Secret bank account

stolpis100

Hello all,

I would like to open an account that is effectively a 'secret' account, kept away from prying eyes, that will not show up on my credit report nor will a search be made on my credit report.

I would have money being paid in on a weekly basis and would like to be able to withdraw cash from an ATM every week.

I do not want it with Santander, Lloyds, Barclays, HSBC, First Direct or Natwest or any banks connected with these ones.

I was thinking maybe a savings account such as Co-operative's Smart Saver might be the ticket as I would assume a savings account does not require a credit search.

Does anyone here know for sure which accounts will not do a credit search and will not appear on a credit report?

lordash

I have an internet savings account with Yorkshire Building Society which comes with a cash card (no debit card) allowing £250/day withdrawals, and a sort code/account number for paying money in. The interest rate (when I opened it) was pretty decent as well.

This is not a credit account, so no credit search will be undertaken, nor will the account be reported to the CRAs. I can confirm this. However, the building society probibly do a verification search of your files for setting up the account. This is just for checking your name/address and they will not be able to see the rest of the report, nor will other lenders be able to see the search.

Yorkshire BS is not affiliated with any of those banks you mentioned AFAIK.

There are ways of determining whether you have money/accounts elsewhere other than credit files, esp if the government/police/courts are involved, so please bear this in mind.

I hope this helps

stolpis100

Many thanks Lordlash!

I will check it out.

bendix

Why not set up an offshore account. Isle of Man. Jersey etc. I have one, into which my salary is paid.

I can use it the same as an onshore account (ATMs, debit cards etc) and yet it's away from prying eyes.

stolpis100

That's quite interesting i'd never thought about that.

I'm actually using mine to have benefit paid into it, all completely legal, nothing dodgy, but yes I'd rather keep it private from those around me.

I imagine however putting offshore account details down on the forms would look fairly suspicious.

Is it easy to open an offshore account?

rainbowfairydust

bendix wrote: »

Why not set up an offshore account. Isle of Man. Jersey etc. I have one, into which my salary is paid.

I can use it the same as an onshore account (ATMs, debit cards etc) and yet it's away from prying eyes.

having lived on the isle of man for 8 years i can tell you if you get wages piad into an offshore account then you tax is taken off you by the IOM government.

I know as i still have my barclays offshore account open , and i enquired about getting wages paid into the account. The bank advised me against this as i would have to pay an extra 15% on any taxable income (that wasn't island based) . I am now living in the UK

OP i am unsure how this would work as benefits are not income based obviously. If you are interested then check out the IOM bank website

http://www.iombank.com/iom/personal-banking.ashx

choc_mouse

I think it depends on who you want to keep it secret from as someone will know (unless you stash it under your bed).

stolpis100

Mainly my family, we are subscribed to the Experian online credit report, and I'd also my current bank didn't really know to be honest, as I am hoping to get upgraded from a basic bank account in about 2 months time and I don't want to give them any reason to delay that.

jambosans

rainbowfairydust wrote: »

OP i am unsure how this would work as benefits are not income based obviously. If you are interested then check out the IOM bank website

http://www.iombank.com/iom/personal-banking.ashx

Isle of Man Bank are owned by the RBS Group (a.k.a. NatWest).

rainbowfairydust

jambosans wrote: »

Isle of Man Bank are owned by the RBS Group (a.k.a. NatWest).

I know . But they still have to abide by the IOM's laws

choc_mouse

Trying a simple savings account might reduce your footprint but I think most financial institutions would want to verify your identity some how e.g. check some register electronically if possible; unless you are an existing customer. Wouldn't you have to "hide" the mail regarding the new account and also the monthly statements if it's not paperfree?