Is Asto finance for ebay a scam?

[strongduck_uk]

I have been approached by a company called Asto who cliam that they are a fiance company for ebay. After uploading ID docs and completing their application, they offered me credit. However, as soon as I tried to use the account for credit, then suddenly they tell me that my application has been denied. 

Now they have my ID and bank details. 

Has anyone heard of this scam?

[rusticrye]

How do you know it's a scam...? Presumably you checked them out before uploading all your personal and financial information...?  If so, and you found they were legit, then it seems that you simply don't qualify for their credit scheme.  Not everyone will be eligible, obviously, which is why such companies have to check you out.

Of course, the email you received may have been a fake, ie. a phishing email, and not from the company at all. If so, your personal and banking information will likely have been sold all over the dark web by now. Contact your bank etc immediately if you think this applies, check your device for malware, and then do a web search for 'staying safe online'.

@strongduck_uk 

[strongduck_uk]

Yes, I checked them out as they claim to be part of ebay. They appear legit, although terrible reviews and I thought that they were just trying to cash in on vulnerable businesses during the COVID19.
They confirmed and offered me the credit account with £1000 credit, AFTER they had checked and verified my docs and ID etc..
Then suddenly today - four days later - from a different email - they ask for more ID "to verify my account" (although they had already done that prior to giving me the credit account last week and confirmed that my ID was satisfactory) Then suddenly the credit account is gone.

[rusticrye]

When you were initially offered the credit, what exactly were you told...? Read it again, as you may find that it says the offer is subject to further checks. It happens. And if you don't supply the further info requested, the offer is naturally closed.

If I were you, I would call Asto for further information, and for confirmation that the emails were actually from them. No point in going through the hassle of getting all your bank and card accounts closed if it isn't necessary.

None of my business, but I can't help wondering why, after reading the 'terrible reviews', you decided to go ahead. That makes no sense at all to me.

@strongduck_uk

[strongduck_uk]

I have now spoken to Asto, who claim that they ARE 'partners' with Ebay (although when I spoke to ebay earlier, they didn't know this!)

Unfortunately, being badly hit by Covid19, credit and funding is very hard to come by, for us small, independent family businesses and sadly, we are easy prey for these unscrupulous credit companies.
But when you desperately need cash to try and save your business - and home - then you sometimes make bad choices.
Thank you for your replies. Appreciated.