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Original poster

Credit agency want bank login details

16 replies

thesurreyyouth · 01/04/2022 15:36

DC4 is in uni student accommodation this year & is in the process of securing accommodation for next year. DH is down as the guarantor as my income isn’t sufficient to cover the rent on the whole property. We’ve already acted as guarantor on 2 other DC when they were at uni but this is the only time the letting agent has requested our personal banking login details for the credit agency. We’ve refused after checking with NatWest if it was secure to give out these details without compromising our account as the bank confirmed we would not be protected should any fraud activity take place.
The letting agent huffed a bit as she said it’s very safe, it’s a large credit agent & if it was illegal it would have been shut down. She will now write to my husbands employer to confirm salary etc.
Is this the usual way for checks to be done or are they trying their luck hoping people willingly give out sensitive information to allow them access to the account as it speeds up the check?

OP posts:
AtomicBlondeRose · 01/04/2022 15:42

This is outrageous and so absolutely not be asked! You should NEVER give your banking login details to anybody at all.

Some apps do ask for you to authorise a link to your bank (financial apps for example) but that doesn't give them a login or access to your accounts or anything. It isn't something like that that's being asked for, is it? That's the only thing I can think of that makes sense.

DeadButDelicious · 01/04/2022 15:43

Every time we,be needed to prove income for renting the referencing agency have got in touch with the employer direct and it was the same when my dad stood as guarantor for us. We have never been asked for our bank login details. Have they given the name of the referencing agency? It sounds dodgy as hell tbh.

MissConductUS · 01/04/2022 15:43

It sounds dodgy. Never give your login details to anyone. If she wants to confirm income offer to send her a scan of a payslip with NI number and any other personal details redacted.

Vapeyvapevape · 01/04/2022 15:44

No one should ever need your login details.

SilverHairedCat · 01/04/2022 15:52

Appalling. Formal complaint to the agency and report them to any ombudsman they are signed up run. Singularly inappropriate.

HellToTheNope · 01/04/2022 15:54

Hell would freeze over before I'd do this. Your everyday banking is absolutely none of their business.

Danikm151 · 01/04/2022 15:58

That is wrong.
At my old place, we used a credit reference service that involved sending a link and the person would log on through their bank secure system then authorise view access to bank statements.
We would never see any log on details.

NameChangeforMoneyThings · 01/04/2022 15:58

@SilverHairedCat

Appalling. Formal complaint to the agency and report them to any ombudsman they are signed up run. Singularly inappropriate.
This.

That's dodgy as hell.

SausagePourHomme · 01/04/2022 16:02

Its against the terms and conditions for any decent banking service. They shouldn't be asking. I'm interested whether its policy or a rogue member of staff, or even a scam where he is not talking to the lettings company at all but they got his details from a list.

Original poster
thesurreyyouth · 01/04/2022 16:05

Thanks for confirming what I thought. The agent said that by giving the details the credit agency could see the activity on the account. The online form definitely had boxes for the login details. It wasn’t Plum which was the credit company the bank customer service knew about that asked for those details. I was so shocked at how defensive the letting agent was when she talked about how sage it was & that most other people were happy to give details the company name has gone from my head.

OP posts:
Chloemol · 01/04/2022 16:09

That is wrong on all levels and must be reported. Absolutely no way should be have anything details for banking. I would just print off a statement detailing salary going in and redacting every other entry

loudbatperson · 01/04/2022 16:15

This is very much not the usual way this is done.

For some financial products viewing of bank statements is required to confirm incomings and outgoing commitments, however this is usually done via bank statements or specialised services, which do not give the agency access to the account directly.

I would put in a complaint and advise that your son and friends find another property, with a different agent.

BernadetteRostankowskiWolowitz · 01/04/2022 16:17

Even the actual bank will never ask for your password to log into the online account you have with them

tulips27 · 01/04/2022 16:19

I would call them again, record them asking for this and then complain to an ombudsman or something.

Grumpyoldpersonwithcats · 01/04/2022 16:21

I would assume that the agent is a fraudster on this basis.

Lougle · 01/04/2022 16:21

No they've got that wrong. You never give out your details to anyone. Ever.

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