Credit search for ISA

ensenar

Hi
Do banks and building societies do a credit search when opening an ISA if you don't have an account with them already? I'm a discharged B/R and so want to protect my credit history.
I've tried googling and searching through the forum but can't find an answer.

Many thanks

E

luvchocolate

Hi I bank with co op but they would not give me a savings account...but they gave me an isa with brittania , I also have a saving acc with Yorkshire building soc..I am 1 year discharged and they told me its long gone now and no problem.
I would go into branch and ask the question

SteveABC

Same with me. As a discharged BR, Co-op wouldn't give me a basic savings account due to failing credit checks, but let me have an ISA, as they don't do credit checks for ISAs.

Since then, Nat West let me open a basic bank account and then an on-line savings account.

OutofDebt-NOT-OutofDanger

I've set up a few savings accounts since discharge without a problem. Most of the checks will be to prove your identity - after all they're not offering you credit.

I've currently got accounts with Virgin Money, Yorkshire Building Society and Nationwide (despite a significant amount of the BR debt being with them).

TrustyOven

I have absolutely no idea about this.

But I always suspected (or shall I say, it made sense to me) that banks would do a credit check on new customers as a means to validate your identity.

So... I guess they do checks just to make sure you are who you say you are?

Especially since by law you are not allowed to pay into more than 1 of each type of ISA per tax year, so they want your NI number to check with the authorities (HMRC?) that you don't already hold too many etc.

I've never been BankRupt (BR just reminds me of Battle Royale (film) :cool: ), but I would guess they don't really care that you are BR for an ISA.

Best to check with them by phoning or going into a branch.