Bank account details for a credit card application

book12

Last time when I applied for a credit card online, it asks for bank details (sort code and account number) to assist them with their credit checks. I have seen other credit card online applications are asking this these days.

How can providing it helps them with the credit checks? The system can't detect if you bank with a certain financial provider by just giving 'numbers'. If it ask what bank you are with, probably easier and realistic.

eddddy

I'm not sure if this is what you're asking, but the sort code identifies the name of your bank, and also the branch were your account is held.

pappa_golf

and a possible test purchase (10p - 99p)to check its valid and has the ability to pay funds when requested

GingerBob_3

CRAs don't supply their business partners with details of the companies appearing on a credit report, just the financial figures .... oh! looks like in some cases they do.

bazzyb

Their credit checking procedure will include more than just glancing at your credit report. The bank details could likely be used for a URU check as part of their overall checks.

Chino

pappa_golf wrote: »

and a possible test purchase

Unlikely - an unauthorised debit from a current account would be theft.

GingerBob_3

bazzyb wrote: »

Their credit checking procedure will include more than just glancing at your credit report. The bank details could likely be used for a URU check as part of their overall checks.

With whom might they check the authenticity of submitted details?

bazzyb

GingerBob wrote: »

With whom might they check the authenticity of submitted details?

A provider who offers that service, perhaps?

Ben8282

There is nothing new or unusual about asking for this information.

GingerBob_3

bazzyb wrote: »

A provider who offers that service, perhaps?

But who, other than your bank, is at liberty to divulge this sort of information?

agrinnall

book12 wrote: »

The system can't detect if you bank with a certain financial provider by just giving 'numbers'.

As edddy has explained it certainly can, and is precisely how the majority of systems do work - for instance, LINK, BACS, CHAPS, etc. Some systems require letters as well as numbers but those are generally the ones processing international transactions (SWIFT, etc.). There are very few computer systems that actually use the bank name, because it's really quite an imprecise means of identification.