OpenRent/Rentguard Referencing

greggyt94

Hi,

I am looking to rent a flat and have found one through OpenRent. I've paid a holding deposit and have now been asked to submit a form to Rentguard Referencing. I am slightly concerned, however, as they are asking for full online banking login details. In effect, they are requesting for complete unrestricted access to my bank account, which seems excessive when I could easily provide bank statements and invoices or whatever else they might need. What are peoples thoughts on this request, and any comments on Rentguard generally. Do you think it would be best to speak to my (prospective) landlord directly and offer to show him evidence?

Thanks in advance.

anselld

greggyt94 wrote: »

Hi,
I am slightly concerned, however, as they are asking for full online banking login details. In effect, they are requesting for complete unrestricted access to my bank account

You have misunderstood. Unrestricted access would ridiculous. What have they actually asked?

Many landlords use Rentguard referencing because they want to take out rent protection insurance. In which case it would be pointless to appeal to the L directly because the insurance is only valid if the T has passed referencing.

Ultimately the L has chosen the use a reputable referencing Company. If you will not comply with the requirements then they will no doubt find another prospective tenant who will.

G_M

greggyt94 wrote: »

..... I am slightly concerned, however, as they are asking for full online banking login details. In effect, they are requesting for complete unrestricted access to my bank account, ......

I find this hard to believe. What is the exact wording please?

If you are right about this, then do not agree. YOU SHOULD NEVER PASS YOUR BANK LOGIN DETAILS TO ANYONE ELSE, not even a customer services adviser from the bank itself.


edit: Looking at the Rentguard tenancy application form here, I note that they ask for
* account holder name
* sort code
* account number

NOT for login details!

greggyt94

Hi, just to say yes I had misread slightly, it was to do with Open Banking, but I can submit statements etc manually. Also thanks for the info regarding rent insurance relating to this.