opening bank accounts with diff banks on same day-will each bank see credit search?

pcyam

I have one main account which I use for all mandates and salary goes into this, and have a few accounts for cashback and dont use it at all (eg 3 halifax rewards).

I'm planning on moving my salary over to an un-used santander bank account and setting up 2 standing orders to my savings account and asking haliufax to switch everything over to one of the existing reward bank account for the £50. Then on the same day switch the main account to first direct and transferring £1500 every month myself for the £100 cashback, and setup 3 lloyds TSB vantage bank account for the 4% interest. If I open tbe first direct and lloyds the same day will they see the credit checks?? also, as the halifax accounts are already open am I right in thinking that the switch does not need a credit check?? I'm planning on doing it all in the branch (halifax and lloyds) and telephone (first direct) so that theres no need to send ID and hold things up and incase they do the credit check on different days. Have I got all the above right??

tia and hth's others if they plan to do something similiar.

Consumerist

pcyam wrote: »

If I open tbe first direct and lloyds the same day will they see the credit checks??

Clearly, one of the banks will see the credit check made by the other.

Olipro

The bank will only do a credit check if you are applying for a credit product (i.e. an overdraft) - if you make it clear that you do not want an overdraft you will not be credit checked.

YorkshireBoy

Olipro wrote: »

The bank will only do a credit check if you are applying for a credit product (i.e. an overdraft) - if you make it clear that you do not want an overdraft you will not be credit checked.

That's not been my experience, with the 15 or so current accounts I've opened over the last 4 years.

Each account search, whether with an overdraft facility or not, has shown as "Application Type: Current Account" and was not an 'unrecorded search'.

opinions4u

Olipro wrote: »

The bank will only do a credit check if you are applying for a credit product (i.e. an overdraft) - if you make it clear that you do not want an overdraft you will not be credit checked.

I'm not familiar with that.

For example, Halifax / Bank of Scotland will credit score a full facility current account application even if no overdraft is requested. They then use internal performance scoring should that customer later apply for an overdraft.

YorkshireBoy

Just to add, whilst they're being phased out, a book of 30 cheques and £100 cheque guarantee card offers a pseudo £3K overdraft facility. Hence the need for a "credit check", whether a formal overdraft is being requested or not.

Olipro

YorkshireBoy wrote: »

Just to add, whilst they're being phased out, a book of 30 cheques and £100 cheque guarantee card offers a pseudo £3K overdraft facility. Hence the need for a "credit check", whether a formal overdraft is being requested or not.

yes, you're quite right, if the account is going to give you any credit abilities (such as unauthorised overdraft) then yes, you will be credit checked.

exel1966

Consumerist wrote: »

Clearly, one of the banks will see the credit check made by the other.

I don't believe so as the recorded checks are not shown in real time (or they weren't) hence why it is/was possible to apply for multiple credit cards simultaneously and be approved for all/most of them as one organisation couldn't see the others searches due to the time delay within the system.
This was a particularly good ploy to use during the times of prolific stoozing.

pcyam

thank you for the advice, what I meant was as the creit checks were all done on the same day would each see the credit checks done as they each provider would not update the credit companies that same day hence not being able to see the checks done on that very same day, read the posts on the credit cards. in the end didnt bother opening up the first direct account as the advisor said that a standing order no longer classed as a mandate in their terms and conditions!!!

thank you all.