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Half of adults think banks should monitor data to spot financial problems - MSE News

Half of UK adults say their bank or building society should use their financial data to identify potential problems, according to a new report...
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'Half of adults think banks should monitor data to spot financial problems'
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Comments

  • 00ec25
    00ec25 Posts: 9,123 Forumite
    1,000 Posts Combo Breaker
    half of adults should go back to school and learn how to control themselves
  • Monitoring data? Sounds like big brother.
  • motorguy
    motorguy Posts: 22,600 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    00ec25 wrote: »
    half of adults should go back to school and learn how to control themselves

    +1

    It just gives people the further excuse when they get in debt "oh my bank didnt tell me".

    Nationwide and Halifax send you a reminder text if you dont have the funds for an upcoming direct debit. Thats quite handy but i dont think it should go further than that.
  • thriftylass
    thriftylass Posts: 4,030 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 22 October 2019 pm31 3:42PM
    There was an article about someone with mental health issues wishing the bank would have stopped them spending. NOT the banks job. If you're that sick that you're not in control because of your illness, appoint someone you trust with your finances or get an account where overspending is not possible (no OD etc). Otherwise its like asking the chip shop owner not to sell you chips as he can see you are already overweight.

    Selfcontrol and watching your accounts which is easier than. ever with mobile online banking
    DEBT 02/25: total £6100 Debt free date 12/25
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