Big Brother or What????? Take Heed !!!!

junction26

Did you know that on your credit report, details of ALL your Bank Accounts are there for all to see, AND....... the balance in them???????
Since when have the Banks given out these details and the Credit rating companies published them?
Surely this is illegal, Data Protection and all that.......
Anyone know where you can bank Privately anymore?
Offshore ????
Under the mattress ?????
Big Brother or What !!!!!!!

Furious UK prisoner/subject/serf

jen245

Bank account information has been shared with CRA's for more than 10 years!! And your balance is only shown if you are in overdraft. If your account is in credit the balance is shown as zero, it does on mine anyway

junction26

jen245 wrote: »

Bank account information has been shared with CRA's for more than 10 years!! And your balance is only shown if you are in overdraft. If your account is in credit the balance is shown as zero, it does on mine anyway

Accounts in Credit with exact balance!!!!!!

JuicyJesus

junction26 wrote: »

Furious UK prisoner/subject/serf

Paranoid much?

This has been going on for ages. It's quite sensible for lenders to be able to assess current account usage information. Indeed it might stand you in good stead.

(Although I very much doubt the banks are reporting a credit balance. None have in my experience)

jen245

Nor mine, and I have 5 current accounts past and present, with different banks, which are on my credit reports, and none have ever shown a credit balance.

OP, current account usage has been reported to CRAs since 2000, and is in the terms and conditions of the account, which you agreed to when you opened the account. I dont understand what the big deal is to be honest, its no different to credit cards reporting the balance of your credit card on your report.

coolesticeking

Never had mine report when I had a credit balance... And who cares?

Only people who are LICENSED can see this anyways.. It helps fight fraud and it gives you a way of checking your own record to ensure that no one else is setting up accounts in your name!

YorkshireBoy

jen245 wrote: »

Nor mine, and I have 5 current accounts past and present, with different banks, which are on my credit reports, and none have ever shown a credit balance.

The only account that's ever shown a positive balance in my experience has been my Egg Money credit card.

OP, current account usage has been reported to CRAs since 2000

I believe they started reporting negative account conduct long before that? It was the 1998 DPA revamp that, following changes to T&Cs, allowed them to start reporting positive data as well.

jen245

YorkshireBoy wrote: »

The only account that's ever shown a positive balance in my experience has been my Egg Money credit card.I believe they started reporting negative account conduct long before that? It was the 1998 DPA revamp that, following changes to T&Cs, allowed them to start reporting positive data as well.

Not sure about that as I had a Bank of Scotland current account, that I was a bit naughty with back in the late 90's, which eventually defaulted in 2002, which never showed up on any of my credit reports. Maybe some banks did? Also, a Barclays account I opened in 1999, wasn't on my reports, although my barclaycard opened in 2000 is on there

pmduk

jen245 wrote: »

Not sure about that as I had a Bank of Scotland current account, that I was a bit naughty with back in the late 90's, which eventually defaulted in 2002, which never showed up on any of my credit reports. Maybe some banks did? Also, a Barclays account I opened in 1999, wasn't on my reports, although my barclaycard opened in 2000 is on there

I don't think banks were able to retroactively apply the change in rules. It depends when your account was opened, only those opened after the terms and conditions were changed can be reported to CRAs, hence your Bank of Scotland account not being reported.

thumshie

pmduk wrote: »

I don't think banks were able to retroactively apply the change in rules. It depends when your account was opened, only those opened after the terms and conditions were changed can be reported to CRAs, hence your Bank of Scotland account not being reported.

I think Jen was referring to YB's statement that accounts could report negative conduct long before that. If that was the case, her 'naughty' BoS account should have shown up...

balmk

junction26 wrote: »

Did you know that on your credit report, details of ALL your Bank Accounts are there for all to see, AND....... the balance in them???????
Since when have the Banks given out these details and the Credit rating companies published them?
Surely this is illegal, Data Protection and all that.......
Anyone know where you can bank Privately anymore?
Offshore ????
Under the mattress ?????
Big Brother or What !!!!!!!

Furious UK prisoner/subject/serf

Only you or authorised persons can see your credit report. The data is not published for just anyone to see!