The Student Room Group

cifas, what to do and importnat questions answered 2021

so last year I made the foolish mistake of giving my card to someone. I have a cifas first party marker on my account. thank god the first year is gone, 5 more left to serve. so anyways im going to university this year September 2021. I obviously need an account for student finance england, and I was wondering what I can do, where I can get accounts and what student finance england will pay into. there must be answers because, im not the first person in this situation, hopefully I'll be the last.

current questions are
1. Do student finance pay into prepaid cards such as Cashplus, cardonemoney, pockit, revolut ect? (monese, monzo, starling are not options, these all will not allow cifas marked people)
2. If not, where can I get a bank account? my monzo was recently closed so im stuck in the mud right now.
3. I've applied for computer science at University, and am going to do a placement year / industrial year at university. I have no intention to work in rhe financial service, as an account banker ect, or even service sector tbh. Will i still be affected and how?

I think these are questions flooding 16-18yr olds minds, and somebody really needs to speak up on this issue. I've seen posts on this same situation from 7-8 years ago, so why aren't banks or schools trying to inform the younger generation better on this issue?

By no means is it the banks fault for the mistake I MADE, and I understand that and 100% not willing to go back to that ever again. however, nobody has reinforced the repercussions it can have.

if anyone could give me some advice and better my situation I'd really appreciate it. we all make mistakes, and I really wish I wasn't so gullible and foolish. Its causing me alot of depression, I just want to better my situation.

we all still have time to fix our situation as best as possible. let's all help eachother and try to rude the 6yr wave as best as possible. Some of us deserved what happened to us and some of us didn't, but im 100% sure all of us regret it and will not make the same mistake!

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Original post by Asr2002
I think these are questions flooding 16-18yr olds minds, and somebody really needs to speak up on this issue. I've seen posts on this same situation from 7-8 years ago, so why aren't banks or schools trying to inform the younger generation better on this issue?

Nobody is deliberately suppressing some easy solution (there isn't one); access to a bank account is not an irrevocable right here in the UK. CIFAS and other similar industry tools (e.g. National Hunter) are not really marketed towards consumers so that's probably why most people don't know about them.
(edited 3 years ago)
Reply 2
you are right tbh, but we need to find a solution to the problem everyone is in
Reply 3
Original post by Asr2002
so last year I made the foolish mistake of giving my card to someone. I have a cifas first party marker on my account.

What actual marker category have you got? Giving your card to someone would not typically satisfy the CIFAS marker requirement..
Reply 4
Original post by Reue
What actual marker category have you got? Giving your card to someone would not typically satisfy the CIFAS marker requirement..

Cat 6. Its okay, I was able to get a bank account with cardonemoney who accept student finance! They do ask for 12.50 a month but its fine I'll pay that.
Reply 5
Original post by Asr2002
Cat 6.


So first party fraud. I'm guessing you let them transfer money into your bank and then they/you either withdrew it or transferred it somewhere else? Sounds like a pretty clear cut case of money laundering.

I agree that there does need to be more education on financial crimes, specifically money mules being targeted by criminals.
Reply 6
Original post by Reue
So first party fraud. I'm guessing you let them transfer money into your bank and then they/you either withdrew it or transferred it somewhere else? Sounds like a pretty clear cut case of money laundering.

I agree that there does need to be more education on financial crimes, specifically money mules being targeted by criminals.

Yep thats exactly it. I made a mistake but it is what it is.
Reply 7
Original post by Asr2002
you are right tbh, but we need to find a solution to the problem everyone is in

Do we? Not sure why known fraudsters should be allowed financial products.....
Reply 8
whats with you and your cheeky comments all the time. everyone makes mistake if you hsvnt got nothing good to say just go somewhere else.
Reply 9
Original post by Asr2002
whats with you and your cheeky comments all the time. everyone makes mistake if you hsvnt got nothing good to say just go somewhere else.

I wouldn't call voluntary money laundering a "mistake". You should consider yourself lucky that you weren't prosecuted for the crime.

A temporary CIFAS marker is much better than a year in prison, no?
Reply 10
Original post by IWMTom
I wouldn't call voluntary money laundering a "mistake". You should consider yourself lucky that you weren't prosecuted for the crime.

A temporary CIFAS marker is much better than a year in prison, no?


your right im not disputing that, but this is for people that need help. People who made a mistake. not for people to be judged, if you dont want to help thats fine, just take what you got somewhere else, I've told this 1000x before I don't need someone to tell me again.
Reply 11
Original post by Asr2002
your right im not disputing that, but this is for people that need help. People who made a mistake. not for people to be judged, if you dont want to help thats fine, just take what you got somewhere else, I've told this 1000x before I don't need someone to tell me again.

Again, it's not a "mistake"... It was a conscious decision to violate the law of the land for financial gain.

Don't do the crime if you can't do the time.
(edited 3 years ago)
Reply 12
Original post by IWMTom
Again, it's not a "mistake"... It was a conscious decision to violate the law of the land for financial gain.

Don't do the crime if you can't do the time.

I think you're being a bit unfair, OP has already mentioned that this situation is causing them depression and seems to accept the negative consequences are fair. They're just asking for advice on what to do next as people do make mistakes (even if you just want to write them off).

I think what OP has done is definitely morally wrong but that's not the end of the line for them and no one gains anything positive by bashing them about their past if they already accept they did something wrong.

@Asr2002 In terms of the future job situation, you'll be restricted from any jobs which require a high level of security clearance (e.g. working at GCHQ) or anything finance related. There are lots of jobs/industries that may or may not be relevant for you but you'll definitely have options available.
Reply 13
Original post by lumiere
I think you're being a bit unfair, OP has already mentioned that this situation is causing them depression and seems to accept the negative consequences are fair. They're just asking for advice on what to do next as people do make mistakes (even if you just want to write them off).

I think what OP has done is definitely morally wrong but that's not the end of the line for them and no one gains anything positive by bashing them about their past if they already accept they did something wrong.

@Asr2002 In terms of the future job situation, you'll be restricted from any jobs which require a high level of security clearance (e.g. working at GCHQ) or anything finance related. There are lots of jobs/industries that may or may not be relevant for you but you'll definitely have options available.

Less unfair, more apathetic to the situation that seems to repeat on a daily basis on TSR.
Hi, I am in the exact same position as you. I was in an emotionally manipulative relationship which ended up him stealing my details and committing a load of fraud with my details. I’m so sorry that you’re going through a tough time at the moment because I feel your pain.

I recently opened a revolut account, which I have been told can be used for university by a teacher at my college. I hope this helps and I really hope you can fix your situation.
Reply 15
So can anyone answer if those banks accept student finance?

Thanks guys
Reply 16
Original post by Asr2002
So can anyone answer if those banks accept student finance?

Thanks guys

Any bank that can accept BACS payments is perfectly adequate for the purposes of receiving your maintenance loan.
Reply 17
Original post by IWMTom
Any bank that can accept BACS payments is perfectly adequate for the purposes of receiving your maintenance loan.

OK thanks
Reply 18
Your 100% right. Yeah I definitely won't make that same mistake again thanks!
Reply 19
Thats not true though is it?

Like Germany gets paid to take its lenders money.

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