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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am Posts: 29240 Location: Guantanamo Bay (thanks bobbdobbs)
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Bank tells 13 million customers it is to start selling information on their spending habits to other companies |  |  |  | Quote: Barclays is to start selling information about 13 million customers' spending habits to other companies, and has admitted it could share the data with government departments and MPs.
In letters being sent to customers, it is also outlining what details about them it holds and uses which, it said, "may include images of you or recordings of your voice", as well as comments made in interactions with the bank on social media sites such as Twitter and Facebook. Barclays said it may collect "location data derived from any mobile device details you have given us" - suggesting it will be able to pinpoint where in the world a customer is at a particular moment in time.
However, the bank assured customers that any data it passed on to third-party companies would be aggregated to show trends, and that individuals would not be identifiable from it. A spokeswoman said there was "nothing sinister" going on, and added that it would not be profiteering from customers. Like most companies, Barclays has previously used customer data internally, but it has not shared it with third parties before. It is writing to current and savings account customers to let them know about the changes, which will take effect on 9 October.
A leaflet details the "new ways" in which Barclays' companies can use customer data, stating: "We can combine information about you with information about other Barclays customers to create reports which we may share with companies outside Barclays. This information is numerical and not personal, and you will never be identifiable on the basis of it." This could include data on how much people spend on different products and services.
The bank said the data could be passed to government departments and MPs – for example, to give them an insight into what was happening in their constituency. |  |  |  |  |
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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Mon Jun 24, 2013 8:24 pm |
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l3v1ck
What's a life?
Joined: Fri Apr 24, 2009 10:21 am Posts: 12700 Location: The Right Side of the Pennines (metaphorically & geographically)
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What do the data protection laws say about this sort of thing?
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Mon Jun 24, 2013 8:34 pm |
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steve74
Doesn't have much of a life
Joined: Fri Apr 24, 2009 12:43 pm Posts: 1798 Location: Manchester
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Hmm, so how can they be "not profiteering from customers" when they're selling the data? Do they not understand the concept of selling something?
_________________ * Steve *
* Witty statement goes here *
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Mon Jun 24, 2013 8:39 pm |
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pcernie
Legend
Joined: Sun Apr 26, 2009 12:30 pm Posts: 45931 Location: Belfast
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Very little that bank sells is actually real it seems... I'm gonna write a letter to my crappy outfit and ask them what they HAVE to hold on me, then ask them to delete the rest and confirm it.
_________________Plain English advice on everything money, purchase and service related:
http://www.moneysavingexpert.com/
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Mon Jun 24, 2013 9:03 pm |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am Posts: 29240 Location: Guantanamo Bay (thanks bobbdobbs)
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Clearly not, considering the mis-selling scandals. Will this be the next mis-selling scandal?  Sent from my iPad using Tapatalk.
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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Mon Jun 24, 2013 10:25 pm |
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jonbwfc
What's a life?
Joined: Thu Apr 23, 2009 7:26 pm Posts: 17040
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Moving your account would probably be quicker and send a more substantial message.
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Sun Jun 30, 2013 3:01 pm |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am Posts: 29240 Location: Guantanamo Bay (thanks bobbdobbs)
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That can be very hard for many. Look at how few people actually do.
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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Sun Jun 30, 2013 4:10 pm |
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Linux_User
I haven't seen my friends in so long
Joined: Tue May 05, 2009 3:29 pm Posts: 7173
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Overdraft is a very common trap used by banks.
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Sun Jun 30, 2013 4:30 pm |
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pcernie
Legend
Joined: Sun Apr 26, 2009 12:30 pm Posts: 45931 Location: Belfast
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I would, but the interest rate is vital to the moving out fund... Added this thread to faves since I'd forgotten about the draft I'd done!
_________________Plain English advice on everything money, purchase and service related:
http://www.moneysavingexpert.com/
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Sun Jun 30, 2013 4:53 pm |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am Posts: 29240 Location: Guantanamo Bay (thanks bobbdobbs)
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I was thinking more along the lines of the problems of simply transferring it without having to deal with mistakes by the banks.
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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Sun Jun 30, 2013 5:13 pm |
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