If Loop is free, why do I need to enter my bank card when registering my smart meter?

We understand that handing over your bank card details can be a cause for concern, so this article explains why we take them and what we do with them.

online banking imageThe link between your MPAN and your address is semi-public and it is quite possible to find this information online.

Given that, if we relied on just your address and MPAN, someone other than the homeowner may be able to access the home's energy data.

This isn't secure enough.

We spent a lot of time investigating different ways to confirm the address that is both user friendly and rigorous enough to be approved by the Smart Energy Code Company. There were a number of other ideas but we went with bank cards because most people have one, and it's relatively easy to support as there are lots of established companies offering secure address validation checks via bank cards.

Loop is currently free for smart meter customers - we do not take payment at this point or have the ability to take payment in future.

We use Stripe to do this who are one of the biggest payment processors in the UK. Your details are passed straight to Stripe for the address to be checked and we don't retain any ability to take a payment in the future. In the event that future subscriptions or payments are to be made following changes to our service, you will be notified and can make choices about your Loop account at that point.

So that's our logic, but we fully understand that entering your bank card on the site of a company you haven't heard of is off putting.

We are a small company and are keen to understand how we can do things better, whether by:

• Explaining our reasons more clearly

• Making it clearer that we're using established companies to do the processing

• By moving to another solution.

If you have any feedback on this please email support@loop.homes