Bank Balances

Steeplearningcurve

Hi. I wondered if anyone could help me understand whether my actual bank balance could or does show up on my credit file and if any other financial information, such as payments from / into my bank account show up? Does having an overdraft affect any of this? Thanks, SLC

engineer_amy

In my experience with the 3 CRAs, bank balances do not show. the CRAs list my bank accounts and mark them at zero. But I do not have any overdrafts. I would assume if you have an overdraft, this is a credit product and would show on the CRAs. Someone else may be able to confirm this


it definitely does not show transactions in or out of accounts, although theoretically you might be able to work out amounts of payments of other credit products shown, but not which account it comes out of (if you have multiple bank current accounts)


for example, my report used to show my car loan and the contractual monthly payment, and it showed it being paid each month, but you couldn't work out which one of my 3 bank accounts it came out of. Same with the mortgage and credit cards

Stevie_Palimo

I see the zero thing to on one a few accounts and thought wth where's my money gone to, After logging straight into my accounts they did show the correct balance and it was not a zero one.

graeme647

Hi, the best advice I can give is to sign up for Clearscore or Noddle both give free credit reports that refresh each month, you can see everything that shows up yourself this way.

In specific reply to your question bank accounts usually show on a report, only overdrafts will show balances and this will be a snapshot as at a single point in the month so if you're always in credit then nothing but details showing the age of your account will be visible.

Payments in and out will never show up.

Anthorn

Steeplearningcurve wrote: »

Hi. I wondered if anyone could help me understand whether my actual bank balance could or does show up on my credit file and if any other financial information, such as payments from / into my bank account show up? Does having an overdraft affect any of this? Thanks, SLC

Credit Reference Agencies report on credit, i.e. borrowing. They do not show in credit balances on bank account. But they do show the limit (overdraft facility) and the amount of the overdraft (credit) used in much the same way as they do for credit cards.

pvt

There has been discussion on this forum before about whether banks report Current Account Turnover (CAT), which is essentially just a single figure indicating how much money flowed through your account.

I am not sure who can see this figure as it certainly does not show on my Noddle or Clearscore reports.

It has also been suggested that this is down to how old your account is. Older current accounts do not have this agreement so the banks cannot report CAT, whereas opening a new account now there will be a clause that permits them to report CAT to the CRAs.

Like the others above, my current accounts all show £0 and state what my agreed O/D limit is. But they are all accounts opened more than 10 years ago.