IVA company wants access to bank accounts. Can they force?

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David Rankin
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by David Rankin » Thu Jun 01, 2017 3:47 pm
Just to clarify this for everyone, when we conduct an annual review we request that our customers use a secure application that allows them to securely access their banking details. This application does not allow Creditfix or any of its employees access to the client’s bank account in any way whatsoever. It uses third party software that complies fully with all applicable data protection and security regulations and is supported by all major banks. Clients are sent a secure link that allows them to enter their internet banking details and the application securely downloads their banking records for a period of up to 12 months. This is sent to a secure area of Creditfix’s own system to enable us to conduct an income and expenditure review. The technology used is known as “Screen Scraping” and interestingly is something that the Money Advice Service have also enquired about. For the purpose of clarification - Creditfix has absolutely no visibility of any client usernames or passwords.

We introduced the process to make it easier, quicker and more secure for our clients to provide information for their annual review. Using this process our clients can complete the review in a few minutes, it removes the need for them to fill in forms and gather together bank statements to send by post or convert to PDF and email to us. It is certainly more secure and confidential than using the post or email.

Shortly before a client’s review is due we will contact them by telephone to discuss the process. Following this call, the client will receive an email and SMS containing a secure link which will start the process.

This short video demonstrates the steps which will provide Creditfix with a copy of a client’s bank statements to complete their review. http://cfix.me/ie

Over 1,500 clients have completed this process with us so far.

If any clients reading this have any questions or would like to discuss the process further please email annual.reviews@creditfix.co.uk or call our review team on 0141 218 4334.
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Lisa Thomas
Industry Expert
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by Lisa Thomas » Fri Jun 02, 2017 8:28 am
See David Rankins comments here:

viewtopic.php?f=145&t=82655
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doritos
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by doritos » Fri Jun 02, 2017 11:41 am
I have screengrabs of your supplier screwing up their SSL (Took them a few days to get that sorted out) , and that's IT security 101, if they can't get that right, then sorry.. not gonna trust them.

Its a nice idea, but sorry, it needs to be better, and screen scraping is very old fashioned, surely an API (The banks are all looking into it) that allows 3rd parties to get a view only of statements etc would be the way to go..
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Foggy
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by Foggy » Sat Jun 03, 2017 3:24 pm
Thank you for that explanation, David. Very interesting. However, my worry is that many of the customers contacted in this regard are feeling bullied into handing over details with which they are not comfortable --- it should be made clear that there is no compulsion (as, indeed, unless they have agreed prior to this, there is none).
David Rankin
Posts: 25
Joined: Fri Apr 03, 2009 11:19 am
by David Rankin » Thu Jun 08, 2017 8:31 am
Foggy wrote:
Thank you for that explanation, David. Very interesting. However, my worry is that many of the customers contacted in this regard are feeling bullied into handing over details with which they are not comfortable --- it should be made clear that there is no compulsion (as, indeed, unless they have agreed prior to this, there is none).


Foggy, for the avoidance of doubt, clients DO NOT HAND OVER their details. The client remains in control at all times and they are not asked to reveal their login details to anyone..

Users may be interested to read the Debt Camel blog here: https://debtcamel.co.uk/iva-banking-details/
FormerlyST1100
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by FormerlyST1100 » Thu Jun 08, 2017 11:52 am
If it was me, and I guess most people on here, the ONLY people that I would be happy with ANY sort of online access to my Bank Account is my bank and myself.

If and when my IP wanted to see anything on my statements they asked for copies ... anything else opens up more security issues ... the least systems that have access to my account the better ... and I work in IT myself.
David Rankin
Posts: 25
Joined: Fri Apr 03, 2009 11:19 am
by David Rankin » Thu Jun 08, 2017 12:10 pm
FormerlyST1100 wrote:
If it was me, and I guess most people on here, the ONLY people that I would be happy with ANY sort of online access to my Bank Account is my bank and myself.

If and when my IP wanted to see anything on my statements they asked for copies ... anything else opens up more security issues ... the least systems that have access to my account the better ... and I work in IT myself.


Using this software you remain the only person with online access to your bank account and security is paramount. I cannot stress this any more than I already have.
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