Oh's Experian file search for my savings - why?

zebidee1

I understand the reasoning behind searching a partner's file if you are applying for credit, but I have just opened 3 new savings accounts (Egg Isa, Yorkshire Reg Saver & ICICI HiSave) and my OH's file has searches recorded on it with regard to these accounts which I opened in my name only.

The accounts weren't meant to be secret as such, but I would have preferred them to remain unknown to him purely because he's always tempted to spend if he thinks we have any spare cash. Not got that option now and he's already planning his next purchase! I wanted to save a few quid every month on the fly, for the kids and to maybe put towards a holiday next year without having to persuade him not to spend it. :rolleyes:

Is this usual for 'in credit' things? Maybe I was naive but it never ocurred to me this would happen.

Is there no way of opening a new savings account without him knowing?

dunstonh

Experian are not just a credit reference agency but they also have electronic money laundering checks that utilise the credit reference system. The check may have been a money laundering check rather than a credit check.

CLAPTON

i assume you have joint accounts with your OH so he is financially linked to you.. in this case then they are liable to check both files... does your file show him as a financially linked person?

zebidee1

Yes, the searches were money laundering checks.

Yes, we've been financially linked for more years than I care to remember at this point, lol.

Is that why his file was searched too......in case I'm cohabiting with a dodgy person? :rolleyes:

Does that mean if there was anything dodgy on HIS file, (there's not btw) then I might have been affected in exactly the same way as I would if credit was involved and I might have been refused?

Anyone know the answer to my last q in my first post?

dunstonh

You could open a savings account using a company that is not as advanced and uses the traditional money laundering checks rather than electronic.

ED

zebidee1 wrote: »

I understand the reasoning behind searching a partner's file if you are applying for credit, but I have just opened 3 new savings accounts [...] and my OH's file has searches recorded on it with regard to these accounts which I opened in my name only.

The accounts weren't meant to be secret as such, but I would have preferred them to remain unknown to him purely because he's always tempted to spend if he thinks we have any spare cash.

This is a shocking disincentive against developing the savings habit...and against marriage and cohabiting. I feel politicians should rectify this situation. Anyone doing something about this?