Banks and sharing data

KJSmith

Buzby wrote: »

No you haven't! The bank needs explicit permission from the customer before they can run fast and loose with your data.

To be clear, I am in no way suggesting that banks "run fast and loose with your data", just that Lloyds shares data within Lloyds Banking Group for the purposes listed in their privacy notice.

Buzby wrote: »

I've been with RBS for 30 years, pre dating their T&C's free-for-all. It was made clear if I opened any new facility, the terms would apply not just for the new account, but for everything. So I didn't. It doesn't show up on any report. Of course it isn't simply passing on details within the group, but any whitelist data they wish to pass on to Credit Reference Agencies too.

Well done for spotting the change - they still need express permission to do so, and if your account was opened before 1996 you'll be protected from external disclosure.

Did you mean 1998?

I'm not sure the rest of what you're saying is correct either. I can't speak for RBS as I've never been a customer but surely the permission to share data both within the RBS Group and with external CRAs would've been obtained by advising customers of a change in terms and conditions.

I thought many firms chose not report any pre-1998 accounts to CRAs where there was only positive data to report (assumedly because of costs involved with reporting). I think you'll find that if there was any negative account conduct to report regarding your RBS account it would indeed start being lodged with the CRAs.

Teessideexpat wrote: »

KJ smith, that's actually not correct...I asked them to provide information that I agreed to this...as they said they could via a twitter exchange, when I took it up in the local branch. No surprises when the deputy manager said that wouldn't be possible as the account was opened in 1987!... now granted they may update terms and conditions ad it could well be hidden in the small print. Does that make it right?

Due to the time frame they probably won't have a copy of the original terms you agreed to and signed. As you've suggested, over time these terms have been updated and you would've been advised of these. You didn't close your account so these terms are in effect.

Browntoa

Teessideexpat wrote: »

Applying for credit cards, credit, utilities and the need for an ID and or credit check to prevent fraud, insurance companies to prevent fraud.....absolutely get that!

This is none of the above

Again , you are ignoring the point of the terms and conditions

These businesses divide, reorganise , takeover , sell off

The "sharing of data" terms covers any of the above without the need to get new signatures each time the change occurs

Come back to the thread when the ombudsman has refused your complaint with their reasons

I never in a million years believe you will get anywhere with your complaint

tempus_fugit

Teessideexpat wrote: »

Peaceful waters: try keep the comments constructive for everyone's benefit!

I thought they were actually.

stclair

Browntoa wrote: »

You apply for a new credit card , they share your data with experian as part of their process (as do BT and other utilities when you change to them )

You make an insurance claim they share your data with other insurers to prevent fraud

This is the same for all financial institutions so good luck finding one that doesn't

You are seeing far too much in this data sharing but as someone else said don't waste the ombudsman time on this pointless exercise.

I got an email from TSB the other day regarding a change in terms and conditions and it stated this:

Happy with the changes?

If we don't hear from you, we'll assume you're happy with the changes. If you're not, you can choose to close your current account or savings account at any time with no charge, but we'd be sorry to see you go.

Shakin_Steve

stclair wrote: »

I got an email from TSB the other day regarding a change in terms and conditions and it stated this:

Happy with the changes?

If we don't hear from you, we'll assume you're happy with the changes. If you're not, you can choose to close your current account or savings account at any time with no charge, but we'd be sorry to see you go.

This post sums it up nicely. I've been asked to sign (tick a box to say I agree) to new T&C's lots of times over the years, esp. when a banking app updates. And the phrase used above is, more or less, what you get every time. "These are the terms and conditions under which we operate. If you don't like them, goodbye".

YorkshireBoy

Teessideexpat wrote: »

However I've spoken to nationwide and will probably move there as they said they don't...so it could be a bank thing?

Their privacy section and FAQ state otherwise. Maybe spend a few minutes reading the info provided on their website? After all, when you apply you're going to have to confirm you've read, understood, and agree to it.

PeacefulWaters

Peaceful waters: try keep the comments constructive for everyone's benefit!

I'll try a different angle. The FOS will rule against you. Don't waste your time.

stclair

PeacefulWaters wrote: »

I'll try a different angle. The FOS will rule against you. Don't waste your time.

It's more a concern that should be directed to the ICO.

https://ico.org.uk/global/contact-us/

I think in big companies they can share certain data internally and externally for legitimate interest purposes.

System

EarthBoy wrote: »

It's so that they don't have to chase you for unpaid debt with one of the group's companies, whilst having available funds in a different group company. They can offset one against the other. Other banks have similar conditions.

They can use it for tracing but the right of 'setting off' which I think you mean doesn't apply between different legal entities.

So a Halifax debt can't be setoff by funds in a Lloyds account.
The fact that they have a common parent company is irrelevant.