HSBC - only accept face-to-face ID?

hells_2

Dagobert - nobody except YOU can see what is on your credit file, I promise you.
The Credit Reference Agencies have a system of codes that you will see under your credit agreements, when you have either made or not made payments. This will be the way it is checked...for instance a series of 0000's after the creditor means you pay up on time...a 1 is 1 month late, 2 is 2 months late etc. The credit scoring also shows if you are over-committed, and with 17 bank accounts this will raise suspicion!

Oh and for those of us that work in banks and do this kind of compliance work - it's a 14 year sentence for even KNOWING that someone is a money launderer. You stand up in court and prove that you DIDN'T know....it's a minefield!
And as for checking the people who sign documents, there is such thing as the Law Society website and the Institute of Chartered Accountants that we contact all the time to prove they are who they say they are...or the FSA (spit)....

Dagobert

hells wrote:

Dagobert - nobody except YOU can see what is on your credit file, I promise you.

I don't understand: I thought the whole point was that banks can look their applicants' records up? I thought that's what the searches are for.

hells wrote:

This will be the way it is checked...for instance a series of 0000's after the creditor means you pay up on time...a 1 is 1 month late, 2 is 2 months late etc. The credit scoring also shows if you are over-committed, and with 17 bank accounts this will raise suspicion!

They're all savings accounts!!!

Neither of the three credit agencies (Experian, CallCredit, Equifax) had any entries for me until last year because the Bank of Scotland does not log anything, neither for current account nor credit card. My whole good credit history is invisible!

Recently I took out a couple of other credit cards; they show just 000000, paid in full every month - but not in Experian because these institutions don't happen to use Experian. Now, if I apply for a current account and if that bank checks Experian, all they see is someone on the electoral roll with no credit history because I don't bloody borrow.

hells wrote:

And as for checking the people who sign documents, there is such thing as the Law Society website and the Institute of Chartered Accountants that we contact all the time to prove they are who they say they are...or the FSA (spit)....

What about Ministers of Religion? Do you phone the Pope?

hells_2

Hmmm well technically speaking, we probably wouldn't accept a certification off a minister. In my line of business every one of our customers has a solicitor and an accountant....(big ticket lending) so it's never been an issue.

What I was getting at was when someone runs a credit check on you, the information given to them is NOT what you would see when you apply for your credit report at all. I think this is explained on the CRF websites. I believe they just obtain data for credit scoring, that's all.

I know of very wealthy individuals who have not been able to get a mobile phone contract, because like you said, they don't borrow. It's a nightmare. Everything is governed by "computer says no"...lol!
Thankfully none of that nonsense in my job, it's all about relationship management and individuals having the power to make decisions. Rare, I know.

I know HBoS don't use credit scoring, which is how I got my first mortgage, yaay!
Left them though cos they don't do good deals

littlereddevil

HSBC def won't open an account without you going into a branch with passport or driving licence

Dagobert

littlereddevil wrote:

HSBC def won't open an account without you going into a branch with passport or driving licence

True - but the exception proves the rule, see my post above.