"Impossible" to release bank account details to Experian

PeteHarris

Experian_company_representative wrote: »

Hi PeteHarris, i'm glad to hear that Barclaycard have been able to share the information once they had your consent. The account information will most likely be sent on their next monthly update, so could take a few weeks to show on your report.

Lenders do need to gain consent before they can share information with credit reference agencies, and as has been mentioned with older accounts this has often not been obtained. It is usually just the case that once they have the consent they can provide us with the details, our Ask James page deals with a similar case.

As StClair has suggested, I think it would be worth writing to them directly to find out why they can't in this instace.
Regards
Neil

Hi Neil

Thanks for your post. I have just written to Barclays Customer Services and, afterwards and on the advice of stclair, I have also written to their Data Exception Team. I will see what comes from that.

FYI I spoke with a Barclaycard rep who said that he would send the necessary papers for me to sign to give my authorisation. The papers have yet to arrive!

gt94sss2

PeteHarris wrote: »

I was an expat for over ten years from 2001-2012 with no need for credit.

This could well be your problem not your unreported accounts - if you haven't been on the electoral roll continuously for 3 years or so it may cause the mortgage firm to reject your application.

Regards
Sunil

grumbler

It's a mortgage, not a CC.
A loan secured on the immovable property.
One doesn't have to be on the roll for 3 years to get a mortgage.

Hanky_Panky

grumbler wrote: »

It's a mortgage, not a CC.
A loan secured on the immovable property.
One doesn't have to be on the roll for 3 years to get a mortgage.

It's not a residential mortgage though it's BTL which is inherently more risky as not owner occupied.

OP - The Knowledge Bank is a team of people based in the Sunderland call centre who have more experience and knowledge than your average Personal Banker and who advise the branches and other call centre staff on more difficult questions such as yours.

It would seem to me that your bank account terms and conditions do not have the option/ability to allow your personal details to be passed on to a third party such as Experian. Your Barclaycard T'S&C's may have a provision to be 'varied' in such a way that by you completing the form allow them to report you to Experian.

On a more general note as a former underwriter, on the scant information you have provided so far you don't seem to be a great risk. Barclays may be prepared to lend you money but they can see your account history. For another lender they look at things like account history as well as time at address and so on. You have little account history and have been living overseas too - I probably wouldn't lend to you either.

Thrugelmir

PeteHarris wrote: »

Correct, it is unreported.

I was an expat for over ten years from 2001-2012 with no need for credit.

When did you restart electoral roll registration?

I assume that companies only want to lend to people who already owe money.

No a suitable period of history is essential for mortgages. That at the current time you don't have.

PeteHarris

Update.

I was contacted by Barclays Executive Complaints who have told me that Barclays are not obliged to give account details out for accounts opened before Oct 1999. I was told that the bank would have to receive the agreement of ALL customers who had accounts opened before Oct 1999 as they are unable to release information on an individual basis. As it would be impossible to gain 100% agreement from these account holders they will not release any information about any account. It is clear from the conversation I have just had that it is technically possible but because they are "legally not obliged to" they will not do it.

I have asked for this all in writing so I can go to the next step of contacting the Financial Ombudsman.

grumbler

PeteHarris wrote: »

... the bank would have to receive the agreement of ALL customers who had accounts opened before Oct 1999 as they are unable to release information on an individual basis. ....

What a shameless bu11shit...

What they meant to say was: "We can't care less and don't want to do this".

Hanky_Panky

Actually I remember something like this before. Essentially it will be a systems thing. Due to the T's and C's at the time no accounts were set up to report and because of the system restrictions they can't flick the switch for individual accounts to report it's an all or nothing type deal. Don't forget that banks are dealing with legacy systems some of which will have started their life eons ago in IT terms.

stclair

Hanky_Panky wrote: »

Actually I remember something like this before. Essentially it will be a systems thing. Due to the T's and C's at the time no accounts were set up to report and because of the system restrictions they can't flick the switch for individual accounts to report it's an all or nothing type deal. Don't forget that banks are dealing with legacy systems some of which will have started their life eons ago in IT terms.

I had the same issue with RBS to be honest have a current account, credit card and loan non of which report the credit reference agencies. In a nutshell for the reasons you have explained RBS cant do anything either and I'm staff lol