Cazoo

[JodyS21]

Anyone sold a car to Cazoo before.
I filled in the bits online, got my amazing quote, then it wants me to grant them (well an intermediary) access to my internet banking to get my account number.... I'm not doing that it goes against everything I know.
All they need to pay into my account is my account number/sortcode & account number.
I've spoken to customer services and they've said they must have access to my internet banking otherwise they cannot buy the car.
They also said, if someone hasn't got internet banking then they can't buy a car from them.

It sounds so ridiculous I can't quite believe it.
Any one have any experience of this?

 

[Mark Holmes]

Anyone sold a car to Cazoo before.
I filled in the bits online, got my amazing quote, then it wants me to grant them (well an intermediary) access to my internet banking to get my account number.... I'm not doing that it goes against everything I know.
All they need to pay into my account is my account number/sortcode & account number.
I've spoken to customer services and they've said they must have access to my internet banking otherwise they cannot buy the car.
They also said, if someone hasn't got internet banking then they can't buy a car from them.

It sounds so ridiculous I can't quite believe it.
Any one have any experience of this?

They can stuff that!! No way…..

 

[Cocijo]

Anyone sold a car to Cazoo before.
I filled in the bits online, got my amazing quote, then it wants me to grant them (well an intermediary) access to my internet banking to get my account number.... I'm not doing that it goes against everything I know.
All they need to pay into my account is my account number/sortcode & account number.
I've spoken to customer services and they've said they must have access to my internet banking otherwise they cannot buy the car.
They also said, if someone hasn't got internet banking then they can't buy a car from them.

It sounds so ridiculous I can't quite believe it.
Any one have any experience of this?

Yes. They use an intermediary to securely get your sort code and account number. I agree it’s a bit daunting but many have used it. I didn’t proceed with my sale but I did use the bank system.

 

[Cocijo]

Anyone sold a car to Cazoo before.
I filled in the bits online, got my amazing quote, then it wants me to grant them (well an intermediary) access to my internet banking to get my account number.... I'm not doing that it goes against everything I know.
All they need to pay into my account is my account number/sortcode & account number.
I've spoken to customer services and they've said they must have access to my internet banking otherwise they cannot buy the car.
They also said, if someone hasn't got internet banking then they can't buy a car from them.

It sounds so ridiculous I can't quite believe it.
Any one have any experience of this?

Selling up? Leaving us?

 

[JodyS21]

I think we are going to sell up, I don't really want to, but at the money being offered and my wife is so worried about being able to safely/comfortably do her commute this winter.
But I really don't want to grant some company (even though they're FSA recognised etc) access to my internet banking.
It just makes no sense why they insist on having my internet banking access. This maybe enough to mean we just keep the car as the other option Webuyanycar are offering £1k less.
I'd like to just at least get confirmation they will give me the full price, otherwise we won't be selling up, but you can't book an appointment without doing the internet banking access thing first.

 

[mj224]

Don't do it. *** they don't need those details, just asking for trouble................

 

[Cocijo]

I think we are going to sell up, I don't really want to, but at the money being offered and my wife is so worried about being able to safely/comfortably do her commute this winter.
But I really don't want to grant some company (even though they're FSA recognised etc) access to my internet banking.
It just makes no sense why they insist on having my internet banking access. This maybe enough to mean we just keep the car as the other option Webuyanycar are offering £1k less.
I'd like to just at least get confirmation they will give me the full price, otherwise we won't be selling up, but you can't book an appointment without doing the internet banking access thing first.

It provides sort and account number. There is no access other than to pay in funds. I do understand the reluctance. I spoke to my bank first.

 

[chowbenter]

WoW! I've never come across that before. That goes against everything you've been told to guard your bank account details.

 

[Cocijo]

Yes. It can be quite concerning. Most banking apps have a ‘share my details’ option. This is an automated version of that. it is designed to eliminate errors and provide security for the data. Unless you are completely happy with it then it’s not for you.

 

[Deleted member 823]

Blimey, I don't think I'd be up for doing that despite @Cocijo's experience.

 

[Jto]

Could I suggest to all who are not happy about giving out there main bank details to set up a Starling bank account which is a on line bank.
I use it this way, I only keep a small amount in it and if runs out because you have not topped up it will not let more money out then is in the account,
I have a card and I use it just like my main account card, the good thing if your card details are copied and used they only get the small amount in the account.
when someone needs you bank account details to pay money in I use this one and then when the money is paid in I transfer to main account.
you run it on a app and its Instant money transfers. Also good for using abroad.

 

[C6MFC]

They are internet based so how do you think they are going to pay you without details. How many retailers already have your details for direct debit, Amazon, Domino's pizza etc. As long as approved safe guards are there internet banking is used Billions times a day.

 

[JodyS21]

They are internet based so how do you think they are going to pay you without details. How many retailers already have your details for direct debit, Amazon, Domino's pizza etc. As long as approved safe guards are there internet banking is used Billions times a day.

They don’t want the account details (num/name) which is all anyone needs to do a transfer, they want to access my internet banking

 

[C6MFC]

Understood, run away if that is the case but it very unusual has there been a misunderstanding? I can't see how they are in business with that parameter as surely 90% of buyers would not allow that. Its not as if they are a fly by night company.

 

[JodyS21]

Understood, run away if that is the case but it very unusual has there been a misunderstanding? I can't see how they are in business with that parameter as surely 90% of buyers would not allow that. Its not as if they are a fly by night company.

That’s exactly what I thought, surely not. I spoke to them on phone, then even spoke to someone else as I just couldn’t believe it.

 

[jamesie]

That’s exactly what I thought, surely not. I spoke to them on phone, then even spoke to someone else as I just couldn’t believe it.

Are they asking for just sort code and account number? Or are they asking for security details such as password, memorable info?

 

[Steptoe]

Paypal hold my card details so can both extract and pay into my account with them. It has never happened but I presume they could also take money from my account without my authorization (though I use my credit card account to give an extra layer of security)

I'm therefore wondering if Cazoo do this to give them some comeback if they later find that they've been scammed in some way by the seller?

 

[Lovemyev]

Are they asking for just sort code and account number? Or are they asking for security details such as password, memorable info?

Bank account number and sort code and it stops at that in my book !.
Well dodgy !.
My wife ( now retired ) worked in the fraud department for a large bank.
You should never offer up your banking details that go beyond the account number and sort code.
If that is not enough, then walk.
Use somebody else, please !

 

[Cocijo]

Interesting article.

Truelayer and Cazoo partner for instant payments

TrueLayer, Europe's leading open banking platform, today announced its industry-first collaboration with Cazoo (NYSE:CZOO), the UK’s leading online car retailer, which makes buying or selling a car as seamless as ordering any other product online, to offer instant payments and refunds for its...

www.finextra.com

 

[Cocijo]

And this is the organisation.

TrueLayer - Europe's leading open banking platform

We power faster and safer online payments with our open banking payments network. Onboard users, accept payments & make payouts in seconds. Learn more today.

truelayer.com