VW Emissions- Milberg and Shieldpay

Monica18

Hi
We’ve had a claim in with Milberg for so long had forgotten, however received a letter recently regards settlement and arranging payment to ourselves via Shieldpay?. Today received an email for Shieldpay with link using DirectID to connect to bank account to verify ID ? I’m always very dubious regards anything relating to access to banking details? . Also on said email  states can scroll past and alternative method to verify bank details ? I’d be happy just to give details in order to get said payment ? Anyone else has anything similar ?  Googled Milberg and Shieldpay and seem genuine ? and aware Milberg have been mentioned in articles on MSE website . Any advice or suggestions welcome 

baser999

Didn’t I read on another emissions thread that someone had signed over their bank details as you’re being asked to do and then had their bank account cleaned out. Suggest you have a look at that other thread. Possibly someone might link it for you

Monica18

Cheers
Thankyou for replying ? Will have a look ? My husband has a bank account with only a very small balance so he would use that account so ……

user1977

What exactly is it asking you to do? All anybody needs to send money to you is a note of your account number and sort code. Anything asking you to log in to your bank sounds like almost certainly a scam.

rigolith

baser999 said:

Didn’t I read on another emissions thread that someone had signed over their bank details as you’re being asked to do and then had their bank account cleaned out. Suggest you have a look at that other thread. Possibly someone might link it for you

Not saying this isn't a scam, but someone having your bank details alone is not enough to drain your account.

Lots of people, particularly sole traders and small businesses, share their bank details on invoices as a matter of course.

There is more to that story, or it's unrelated.

Monica18

user1977 said:

What exactly is it asking you to do? All anybody needs to send money to you is a note of your account number and sort code. Anything asking you to log in to your bank sounds like almost certainly a scam.

Hi 
they’re asking to access account for verification- our bank said it’s ‘open banking’? Not keen on that to be fair ! Would open another bank account solely for purpose of this and close once we’d received funds ?  However calling them today to discuss options and see. Online they look 👀- and covered by FCA?

user1977

"Open banking" exists (e.g. apps which allow you to aggregate all your bank info) but I don't see the relevance here, where all that is happening is someone sending you money. They don't need to "verify" anything other than your account number and sort code, and they can do that via the (separate) process which already exists for checking that a payee's name appears to match the account.

Ganga

Do not forget your bank account number and sort code are shown on every cheque you have used /issued and that has never been a problem.

WellKnownSid

user1977 said:

"Open banking" exists (e.g. apps which allow you to aggregate all your bank info) but I don't see the relevance here, where all that is happening is someone sending you money. They don't need to "verify" anything other than your account number and sort code, and they can do that via the (separate) process which already exists for checking that a payee's name appears to match the account.

With open banking you can share your bank details from the banking app - it will ensure the exact details are passed on and can help with things like KYC checks where they must verify it’s going to the right person via an account they control (just handing over a bank account and sort code doesn’t confirm your connection to that account).

I’ve done this several times where I’ve been paid for things.

But that doesn’t mean that this particular request is genuine, just that sharing your account details via open banking is actually a thing these days.

400ixl

The only time you need to give a 3rd party Open Banking access is for when they need to verify your transaction history. Such as for a mortgage application.

They do not need it to pay you or to verify your name matches the account details.

user1977

WellKnownSid said:

user1977 said:

"Open banking" exists (e.g. apps which allow you to aggregate all your bank info) but I don't see the relevance here, where all that is happening is someone sending you money. They don't need to "verify" anything other than your account number and sort code, and they can do that via the (separate) process which already exists for checking that a payee's name appears to match the account.

With open banking you can share your bank details from the banking app - it will ensure the exact details are passed on and can help with things like KYC checks where they must verify it’s going to the right person via an account they control (just handing over a bank account and sort code doesn’t confirm your connection to that account).

Does it do any more than the "normal" confirmation of payee check when you enter account number/name?