Refused First Direct Account

thebritishbloke

Has anyone else been refused for the FD account with the switching bonus? I've been with HSBC for 11 years, never gone over limit etc.

Main thing i can think that might have turned them off is that I've opened 7 bank accounts in just over 6 months, but I was offered credit facilities with all of these other banks and refused it.

dr_adidas01

First Direct can pick and choose their customers and they do. Just because you think you deserve to have an account doesn't mean you they have to give you an account.

You might not fit the customer profile that First Direct are looking for, the 6 other searches and credit facilities on your accounts recently opened might also be a contributing factor.

What reason did they give for the decline?

thebritishbloke

dr_adidas01 wrote: »

First Direct can pick and choose their customers and they do. Just because you think you deserve to have an account doesn't mean you they have to give you an account.

You might not fit the customer profile that First Direct are looking for, the 6 other searches and credit facilities on your accounts recently opened might also be a contributing factor.

What reason did they give for the decline?

I know that they can pick and choose, I'm just surprised considering that I've had no problems opening accounts elsewhere.

They didn't actually give a reason, it said they'd let me know why I was declined but that was it.

msallen

They declined me a year or so ago without explanation, and as it happens I just reapplied about an hour ago.

I suspect that they assume you are just going to use it for the switching bonus and the regular saver, and so they would make no profit (actually a loss) from you. Obviously this is also my plan, so I'm hoping their profiling isn't that good!

Steve_xx

It's interesting that you say you are with HSBC and have been for 11 years, and you were refused by First Direct and yet they are a part of HSBC.

EarthBoy

Steve_xx wrote: »

It's interesting that you say you are with HSBC and have been for 11 years, and you were refused by First Direct and yet they are a part of HSBC.

First Direct is part of HSBC, but they operate as a separate division. They have their own lending/profiling criteria and they don't answer to HSBC for the the day to day running of their business, although they are ultimately responsible to them.

Game_Over

thebritishbloke wrote: »

Has anyone else been refused for the FD account with the switching bonus? I've been with HSBC for 11 years, never gone over limit etc.

Main thing i can think that might have turned them off is that I've opened 7 bank accounts in just over 6 months, but I was offered credit facilities with all of these other banks and refused it.

Why are you attempting to open/switch so many bank accounts?

:huh:

If you've not got any money in some of the many accounts you have (see https://forums.moneysavingexpert.com/discussion/5116001 ), perhaps that is why they are not interested.

Or perhaps they've rumbled that you are just trying to take advantage of the backhanders on offer for switching to, and probably then soon switching away from, them :cool:

How did you get offered credit facilities with say TSB??? :huh:
When you apply, it specifically asks if you want to apply for an overdraft. If you do, additional credit checks are made, and you may still be refused.

So are you suggesting you asked for an overdraft, got that all approved, and then asked them to remove it??? :huh: :huh: :huh:

lucystardust87

My friend got declined because they couldn't verify her employment. In her job they all have separate phone numbers which go direct to their desk, so she put that down as her work number. FD will find the directory number for the company and call that, in her case it went through to Glasgow HR which is a separate division so they put it down that her employment status couldn't be checked.

WorkingGirl

lucystardust87 wrote: »

My friend got declined because they couldn't verify her employment. In her job they all have separate phone numbers which go direct to their desk, so she put that down as her work number. FD will find the directory number for the company and call that, in her case it went through to Glasgow HR which is a separate division so they put it down that her employment status couldn't be checked.

LOL

That may be the excuse your friend offered you in order to save face, but do you really think any responsible employer will give out references (without authority from the employee) to anyone who happens to call up and ask?

thebritishbloke

Steve_xx wrote: »

It's interesting that you say you are with HSBC and have been for 11 years, and you were refused by First Direct and yet they are a part of HSBC.

Yup. I presume they look at HSBC internal data, but as I said all my accounts with HSBC have always been in good standing, so I'm really confused as to why they'd refuse me.

Game_Over wrote: »

Why are you attempting to open/switch so many bank accounts?

:huh:

If you've not got any money in some of the many accounts you have (see https://forums.moneysavingexpert.com/discussion/5116001 ), perhaps that is why they are not interested.

Or perhaps they've rumbled that you are just trying to take advantage of the backhanders on offer for switching to, and probably then soon switching away from, them :cool:

How did you get offered credit facilities with say TSB??? :huh:
When you apply, it specifically asks if you want to apply for an overdraft. If you do, additional credit checks are made, and you may still be refused.

So are you suggesting you asked for an overdraft, got that all approved, and then asked them to remove it??? :huh: :huh: :huh:

Firstly, other banks can't see your balances in your other accounts unless it's a negative balance and it's on your credit report. Secondly, as you posted the same response to my other thread, most of the accounts are full and I have a fixed term saver due to mature and the money will be going into these new accounts.

I applied in branch for my TSB accounts, the member of staff said I'd been approved for an £X overdraft and I said I don't want one. You need to research when credit checks are actually done, because when you apply for a current account it does one search, regardless of if you want an overdraft or not. Same goes for Nationwide and Halifax, applied for the account and they offered me an overdraft and I just refused.

Stop diving into threads and acting like a smart-!!!!.

lucystardust87 wrote: »

My friend got declined because they couldn't verify her employment. In her job they all have separate phone numbers which go direct to their desk, so she put that down as her work number. FD will find the directory number for the company and call that, in her case it went through to Glasgow HR which is a separate division so they put it down that her employment status couldn't be checked.

I've never heard of a bank actually checking with an employer if you work there. Your work actually has no right to answer that question to somebody who just asks for it.

msallen wrote: »

They declined me a year or so ago without explanation, and as it happens I just reapplied about an hour ago.

I suspect that they assume you are just going to use it for the switching bonus and the regular saver, and so they would make no profit (actually a loss) from you. Obviously this is also my plan, so I'm hoping their profiling isn't that good!

This is exactly what I wanted to do, haha. I obviously didn't say that, in my application I stated it'd be for personal expenses and I'd put £1000 into the account each month (which I would).

Archi_Bald

thebritishbloke wrote: »

Yup. I presume they look at HSBC internal data

I doubt that. They operate quite separately.