Lloyds misusing CIFAS (again)

Ed-1

Another sorry tale of Lloyds misusing CIFAS:

http://www.telegraph.co.uk/personal-banking/current-accounts/lloyds-made-me-a-financial-pariah-for-two-years-after-wrongly-pu/

Surely this has got to stop and the banks should be held accountable for their use of these databases?

kingrulzuk

Ed-1 wrote: »

Another sorry tale of Lloyds misusing CIFAS:

http://www.telegraph.co.uk/personal-banking/current-accounts/lloyds-made-me-a-financial-pariah-for-two-years-after-wrongly-pu/

Surely this has got to stop and the banks should be held accountable for their use of these databases?

o dear :mad:

Rich7111

£500 compensation is nothing. All banks & financial companies have the ability to basically cause this Mayhem and misuse this facility.

CIFA'S has a purpose, one I fully support when it's used correctly, but it's being mis-used too often, stories like this shouldn't be happening, not in 2016 with all this technology.

Companies who get it wrong like this should be banned from adding to the database.

In my opinion, CIFA's should have full proof of the fraud before listing anything, at the moment, any one can be listed without a trial and treated like a fraudster

Bsnimunf

Rich7111 wrote: »

£500 compensation is nothing. All banks & financial companies have the ability to basically cause this Mayhem and misuse this facility.

CIFA'S has a purpose, one I fully support when it's used correctly, but it's being mis-used too often, stories like this shouldn't be happening, not in 2016 with all this technology.

Companies who get it wrong like this should be banned from adding to the database.

In my opinion, CIFA's should have full proof of the fraud before listing anything, at the moment, any one can be listed without a trial and treated like a fraudster

A few things need to change.

-If you add to the database you need to inform the customer they have been added and why.
-Checking your CIFAS record should be free not £10
-If a customer is opening a new account dont allow them to open the account give them account numbers and bank cards to let them think its all be completed then suddenly block the account and put a fraud warning on their name. It starts a chain reaction of accounts being locked just because someone is a bit trigger happy. Simply delay opening the account until the customer has provided ID and proof of address.

I opened an account and transferred my money into it along with my bills, DDs and mortgage payments. It was locked a few days later when my wage was due in and all my DDs and mortgage payments were due out. My wage got bounced back and all my payments were rejected. The reason the account was suspicious was because I claimed to be at a previous address for 2 years and 10 months when other data the bank had said it was 2 years and 11 months. They are also going to take 2 days to unlock my account despite having me proof who I was in branch and they want to speak to me on the phone after two days rather than just unlock the account.

This is Nationwide by the way so you know who to avoid.