Account opening with online debit card deposit

diamonds

Does this exist ? Preferable one of the highest savings rate :rotfl:

Need to start moving money from TSB over £2000 and Halifax Reward to a feeder account into Halifax and M&S current accounts monthy for their regular savers (4% HTB & 6%RS) but want to move this bulk pronto into such feeder account.

I have opened 2 current accounts in 8 weeks and think a another opening online without deposit at opening may get rejected as I now have TSB, Halifax, M&S and Clydesdale (currently in transfer to Halifax via switching service) showing as active on my credit file.


I am not showing any balance borrowings on credit file on any current accounts for over 10 months which goes in my favour but a third account opening whilst Clydesdale is still active may look like fraud/over subscription as they all have (unused) overdraft availability showing on credit file.



I think way back it was maybe Egg that allowed a deposit at opening from a debit card I had, but they are long gone to openings.

grumbler

It might be just me, but I don't understand what you are doing and what are trying to achieve.

What's wrong with FP? Why 'bulk'?

If you are worried about possible rejection, I don't think that a card deposit during application can have any effect.

colsten

grumbler wrote: »

If you are worried about possible rejection, I don't think that a card deposit during application can have any effect.

I know of no current account application that offers, or requests, an opening deposit.

diamonds

grumbler wrote: »

It might be just me, but I don't understand what you are doing and what are trying to achieve.

What's wrong with FP? Why 'bulk'?

If you are worried about possible rejection, I don't think that a card deposit during application can have any effect.

Opening current accounts with standard overdrafts, ie First Direct etc may not like the fact I have just got access to two overdraft current accounts in 2 months, ie computer says no because of high risk or fraud concerns.

A security check is done on debit/credit card deposits via house number & postcode, same as sim only orders etc etc, thus a fraud marker for high credit file activity or high financial risk is not flagged on the credit search as much without the card security check on a internal nor external credit check.

diamonds

colsten wrote: »

I know of no current account application that offers, or requests, an opening deposit.

Thanks colsten, as I thought, I'm sure it was unique to Egg savings being online only.


Frankly for security and fraud they should all do it, a small deposit from a card matching the applicant and address.

colsten

diamonds wrote: »

Thanks colsten, as I thought, I'm sure it was unique to Egg savings being online only.

Savings accounts are a totally different matter. Many allow deposits by debit card.

diamonds wrote: »

Frankly for security and fraud they should all do it, a small deposit from a card matching the applicant and address.

That would mean that anyone without a debit card could not apply for a current account. Seems counter-productive.

diamonds

colsten wrote: »

Savings accounts are a totally different matter. Many allow deposits by debit card.


That would mean that anyone without a debit card could not apply for a current account. Seems counter-productive.

At account opening or just when open ? I think any bank search will be refused even a savings because of fraud markers due to high use of bank searches and newly opened current accounts, I am trying to keep it clean as possible for a mortgage in the next year or two.

Branch with ID for the first account with a debit card, opening a new account using such online deposit ongoing - given the current account transfer process asks for the losing bank details including a debit card 16 digit debit card number a little integration would go a long way for fraud, security and stop clogging up branches with account openings (for those who use the internet) and possible subsequent ID security checks after online application.


A debit card uses a house number and postcode as security checks for online orders against, why that cant be applied to banks with new account opening deposits beggers belief

colsten

diamonds wrote: »

I think any bank search will be refused even a savings because of fraud markers due to high use of bank searches and newly opened current accounts, I am trying to keep it clean as possible for a mortgage in the next year or two.

Nobody has ever got fraud markers due to high use of bank searches and newly opened current accounts.

Searches will drop off most CRA files within 12 months, and searches for current accounts are most unlikely to affect mortgage applications. It's the amount of debt, and the amount of available credit that can negatively impact mortgage applications.

I can't comment on your idea of using debit cards to prevent fraud, mainly because I don't understand what you are proposing and what you are trying to achieve.

diamonds

Ok! got a Tesco internet saver online opening with a £1500 visa debit card opening deposit, will call and do their current account in a bit, you cant open online logged in after opening a internet saver?!

Tesco & M&S accounts will be handy for 3&6% savings and instore banking as I shop there for topups and main shops.

Halifax Reward for £5 & HTB, TSB for 5/5/5.

Tesco as feeder to M&S/Halifax currents to feed RS.


I'm getting damn good at this, I'm paying my mobile bills, getting government bonuses and gaining interest

I'm not just tight anymore but getting paid to be tight

diamonds

colsten wrote: »

Nobody has ever got fraud markers due to high use of bank searches and newly opened current accounts.

Searches will drop off most CRA files within 12 months, and searches for current accounts are most unlikely to affect mortgage applications. It's the amount of debt, and the amount of available credit that can negatively impact mortgage applications.

I can't comment on your idea of using debit cards to prevent fraud, mainly because I don't understand what you are proposing and what you are trying to achieve.

You can be marked as high risk/poss fraud markers on any internal evaluation, I know I done manually reconsiderations many years ago with perfect credit files. Any internal marker can be raised as concern reports to CRA manually or automatically. (I didn't fully understand internal or external impacts at the time I just processed as trained, I was 19/20 years old)

In the next 12 months my searches will be as high as offers from institutions so I know to keep them as low as possible because none of us savers know what will be happening or how many accounts we will actually be opening & moving.


Exactly thats why I have a small personal unsecured loan. Not a revolving credit card, and current accounts with a few hundred overdraft buffers max on most but not all. TSB (£300 (offered £700) by choice and previous management used to show good debt repayment) Clydesdale (£100 by choice & never used by choice, offered £500) M&S by default of £500, Halifax no overdraft by choice (offered £1000).

Likely small mortgage in 10/11 months minimum if all goes to plan...credit file as perfect as can be, showing great management and payments of debts on current accounts and unsecured loan, which for a part time income application for a mortgage put me in the best position possible, it is alot harder for a part time employee to obtain a mortgage

Certain deliveries and checks happen when you pay by card against the account address and delivery address, ie sim only verifies such with a deposit or refundable deposit, banks should use such for account openings. Anyone can use your details on a credit application saying you just moved, some slip through, a debit card deposit on new online accounts would stop the slipping through the net.

diamonds

Feeder Tesco 3% Current Account approved