Declined Application for Current Account

One of the factors in your credit score is the length of time in your current employment. If you have just changed jobs, then that isn't going to help you.

If you recently moved house, then that will depress your score as well.

Ah, I didn't know that, thanks for the information. Seems strange to me that these should be factors in how much of a credit risk you are, although I suppose someone with a steady income over a long period of time is less of a risk for that reason. Still, it's my first job out of university so I can't see how my score can be worse than when I previously didn't have a job. It's also a bit annoying because the very reason for opening the bank account is that I have moved house (and started a new job) in order to live with my girlfriend, and that is why we need the joint account!

Presumably the necessity for them to obtain a credit rating for me is down to the fact that they are offering the facility to borrow money (an overdraft), ironically this is not a feature of the account that I intend to make use of. Would it make a difference if I went to another bank who don't offer any overdraft, or specifically requested that I not be given one, or do the banks still want to check your credit rating just to assess other possible risks? Perhaps there's the possibility I could incur bank charges which I would not be willing/able to pay - are they worried about this?

Perhaps the best thing to do is to wait a few months - we can continue to use our separate current accounts - not as convenient but definitely possible. And then start looking for a joint account at that stage.

In message , Tom Robinson writes

If you already have a current account, why dont you ask your existing bank for a joint account with your GF? Or vice versa.

Yeah, I suppose I'll probably end up doing that actually. The only thing stopping me from doing this in the first place was that I was keen to get a bit of interest on any spare money that was lying around in the account - and my existing bank is NatWest. :)

This is a common problem - try using your/her parents address then changing it after 6 months. The electoral register entry is treated as a minor issue for credit checks.

Daytona

Get reports for both yourself and your girlfriend, just to make sure.

As for your cahoot application. did you qrite the wrong start date of your employer?(the contract was a week after the application) Are you in a probationary period?

As for the low score, when you get the reports you will be bale to check and see how many credit searches you and your girlfriend have.

But then you are lying about your address? Which if found out could land you a nice big fat CIFAS warning(For providing false addresses), which will make it even more difficult if not impossible to get any current account.

The OP should have provide addresses for last 3 years when opening account. If they cannot be found at present address a search on previous address can be made.Either OP has not given all the facts here or they have not been on electoral roll at all OR perhaps there is something untoward on their address now. Either way a 2 cheque or Postal order to Experian will give them a copy of their credit file and if there is anything there that is wrong they will be given an opportunity to correct. So just out of Uni any debts other than student loans eg credit cards where someone forgot a payment on time? or more than one bank account because say in last year of Uni bank were unable to increase o/d so someone opened an account elsewhere? As I say I don't think we have all the facts here. Eric

Who said anything about lying? I wasn't aware any address given to a bank had to be anywhere other than somewhere they could send statements to. No lie involved.

In fact, I've often given my parents address as the point of contact during periods of, umm, address instability (doncha just love shitty rented flats, 'til you find a nice one). I'm sure I'm far from having been alone in this.

Admittedly, if opening a _new_ account these days (rather than redirecting mail for an existing account), that's somewhat harder to do, given all the hoops you have to jump through to prove the address is "valid", which, as has been commented before, is quite hard, if none of the bills are in your name.

(Although you can, of course, use statements from existing bank accounts at that address to demonstrate the validity of *that* address. Duh!)

But it's not false. If a bank wants to know where you live, rather than where they should send mail to, they should _explicitly_ ask for that.

It's not (in my case) as if it's a property the bank has a mortgage in my name over, in which case I could understand them being slightly interested to know where it is, in case they need to get their hands on it ;-) (Although they should probably have that information on file already! :)

That would indeed be a pain. I don't see why a bank should actually care where you live, unless they offer you credit facilities. But they're often, understandably, loathe to do that to new customers, and rightly so.

But all somebody dodgy would need to do is open an account somewhere where they do have a 'demonstrably' valid address, wait a few months, and then at that point tell the bank they've moved somewhere fictitious, if they want to do a runner..

(NB: I'm not advising or recommending this as a course of action!)

It's inherently obvious that it's subdermal GSM transponder tracking devices we desperately need.. :-(

Alliance and Leicester wanted proof of my new address when I moved (for a Cash Isa).

Emm. If the form says "What is your current address?", or "Please give details of your previous addresses within the last 3 years" and you give your parents address when you don't live there, then it is lying. I doubt the form says "What address would you like your statements sent to?"

You are not alone in doing it, but I have seen people get CIFAS warnings placed against their name because of providing false addresses. Point of contact or correspondence address is much different from where you live.

Is this the way you would you like

"What is your address, you know the one you REALLY live at, not a phony address, or your mums address even though you haven't lived there for 4 years, or your mates house, but the one you live at, you know sleep at, you know really and truly live at, cross your heart and hope to die?"

Due to new Money laundering Reg's to change an address you generally need proof, such as a utility bill to change your bank account over.

In message , David Marsh writes

In asking you to prove an address, they are merely complying with Money Laundering regulations - they have no choice as it is a very serious criminal offence not to comply.

Your idea for a dodgy dealer does not actually work but it would not be difficult for a dodgy dealer to create an address where he/she could not be traced, but would be acceptable for bank purposes. Notwithstanding the fact that it is simple to get around this part of the regs. The banks still have no choice.

"Phil Deane" wrote

Hold on - if you move house on (say) 1st June, are you saying you then need to *wait* until you get a utility bill for the new house before the bank will switch addresses?

What if a statement is posted from the bank on, say, the 3rd June? And don't say "you can get Post Office to re-direct mail" - because some people may not wish to pay for something which they don't really need!

I disagree, an "address" is a place to send things to, not necessarily a place where you live. If they want to know where you live then they should ask exactly that.

I think they just say "Address", which I'm sure most people infer to be "Address for correspondence", which admittedly, usually does happen to be the address you live at.

If they wanted to be more specific, they should say so ;-P

Are people made aware that such warnings have been issued (what is CIFAS, by the way?), or are they private to the banks themselves? What effect does this have anyway (do the banks just ask for more and more verifiable information to check a scam is not being committed)?

Well, they'd probably get a Plain English Crystal Mark, at least, for wording it that way! :-)

I think having two fields: "Residential address" and "Address for correspondence (if different)", would do the trick nicely, though.

I moved this time last year, and none of my banks asked. Or have they tightened things up since then?

That's going to be a *right bugger* for many people, though: what if the bills aren't in your name, and what if it takes a while to get paperwork (with the new address) through from the utility company?

(And what is it that banks dislike about mobile phone bills? They're surely the most 'personal' bills you can get)

I know it's the law, but these are the most badly-implemented regulations conceivable. They create massive amounts of hassle for ordinary people, yet, at the same time, dodgy types can still, with a bit of effort, get around them quite easily.

Still, Government Gotta Be Seen To Be Doing Something.. :-(

If you move house on the 1st of June are you going to take a few days of work to phone EVERYONE you could possibly get mail from to advise them you have moved, so as you will avoid any missed correspondance?

Even if you phoned your bank and they changed the mailing address on 1st June it will probably take more than a few days to filter right through their system, to gaurentee your statement to your new address. I would imagine a normal turnaround time would be about 5 working days, but that is just a guess (Most other things seem to take that long)

You are being pedantic. If you asked 100 people What is your address, I would bet at least 95% would assume you mean where you live, not where their correspondence goes to.

You are in a clothes shop, stick a pair of trousers in your bag and walk out, the security guard stops you, and your in court.

"your honour, if they didn't want me to take them, they should have a sign saying that"

CIFAS stands for Credit Industry Fraud Avoidance Systems. What it is can be seen here

When a bank does a credit check and sees a CIFAS warning they can do a number of things depending on what their policy is. At the very least they will ask for mega backup documentation, and the worst is to decline the application(the most probable, if the applicant has applied fraudulently with another lender would you take them on?)

The warnings are placed there by other banks or institutions that find mismatches in the verification process, ie someone says they live at one address(parents) but in fact live at another(their own residence)

People are generally not made aware they have had a CIFAS warning place don their account

I moved 3 years ago and didn't have to prove it to some banks, (But it was phone banking and they asked me all sorts of security information) and the other wanted proof.

I got married in march and my wife went to her bank and changed the name on her account, with no verification at all. That bank was in breech of Money laundering regs

>

Depends in what context you ask the question.

"Phil Deane" wrote

No - phone them all beforehand!

"Phil Deane" wrote

So phone them at least 5 w-days beforehand!