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Basic bank accounts

isingh1
isingh1 Posts: 51 Forumite
Fifth Anniversary 10 Posts Combo Breaker
in Budgeting & bank accounts
Hi all,

I was wondering if a basic current account would leave a credit check or search on your profile.

i.e. ones with just a cash card and no overdraft or dd facility.

I have heard they are just I.D. checks and would not impact your rating.

If so, could this be opened to use as a buffer in the 'switching to current accounts to get incentives' technique? - which will be credit checked i know.
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Comments

  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    When I opened a basic account with my bank there was no credit check just ID.

    I later upgraded it to a current account about a year later once I had been paying a steady stream of wages in.

    Once you get one you can have them all.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It might depend on who you apply with - with Lloyds/HalifaxBOS or TSB they will credit score you.
  • colsten
    colsten Posts: 17,596 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Paul_1977 wrote: »
    Once you get one you can have them all.

    Can you explain what you mean by that please?
  • willo65
    willo65 Posts: 1,012 Forumite
    Natwest credit score, you can't apply for a basic account and it is only offered if you are declined for a regular account.
  • sexyshark
    sexyshark Posts: 298 Forumite
    willo65 wrote: »
    Natwest credit score, you can't apply for a basic account and it is only offered if you are declined for a regular account.

    I applied for the basic natwest account straight away and not after I was rejected for the regular account
    Sealed pot member 095 SPC No 7 £578.32
    sealed pot No 8 Target £750 TOTAL £1059.86:j
    sealed pot no 9 Target £1200 TOTAL £1073.38:cool:
    sealed pot no 10 Target £1200 TOTAL £1209
    sealed pot No 11 target £1250 total £TBC
  • System
    System Posts: 178,428 Community Admin
    10,000 Posts Photogenic Name Dropper
    All basic current accounts come with a Direct Debit facility and all now credit check on application as far as I'm aware.

    You can get savings accounts with a cash card and these will not credit check but may run an ID check.
    isingh1 wrote: »
    Hi all,

    I was wondering if a basic current account would leave a credit check or search on your profile.

    i.e. ones with just a cash card and no overdraft or dd facility.

    I have heard they are just I.D. checks and would not impact your rating.

    If so, could this be opened to use as a buffer in the 'switching to current accounts to get incentives' technique? - which will be credit checked i know.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • LplateSaver
    LplateSaver Posts: 351 Forumite
    sexyshark wrote: »
    I applied for the basic natwest account straight away and not after I was rejected for the regular account

    Me too.

    I haven't checked to see now it appears in searches yet so unfortunaltely can't answer original question.
  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    colsten wrote: »
    Can you explain what you mean by that please?

    Once I had one current account, every other one I applied for I got without any issues.
  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    jonesMUFCforever wrote: »
    It might depend on who you apply with - with Lloyds/HalifaxBOS or TSB they will credit score you.

    Metro bank I don't think credit score you for their basic account as they made a point about it not credit scoring me when I opened it, however this was nearly five years ago.
  • 10pence
    10pence Posts: 348 Forumite
    jonesMUFCforever wrote: »
    It might depend on who you apply with - with Lloyds/HalifaxBOS or TSB they will credit score you.


    HSBC credit check on their BBA too, in fact they have a tendency to credit check on most account applications.
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