The Top Easy Access Savings Discussion Area

Sg28

RG2015 said:

TheBanker said:

AmityNeon said:

Freedommm said:

Oxbury declined. They did those checks that they "don't do for savings accounts", or "shouldn't do" ie soft credit checks. Once again, its because my address has been used by someone else with bad rating.

Ps. I can be ok with that, since I never heard of Oxbury until two days ago. 

A soft search for a savings account verifies your identity, so your credit history is irrelevant.

Why do you believe a completely different person’s credit ‘rating’ has any influence on your application for a savings account? What, specifically, have you been told by Oxbury?

You should not spread misinformation like this.

The bit in bold is not completely true. There has to be a credit history for the soft search to verify the identity. It shouldn't matter what the credit history is - but if there is none then the ID check will fail. So someone who's got accounts with missed payments/arrears should still pass, but someone who's never had credit accounts (or other things like certain utility bills/mobile providers that report to the credit reference agencies) won't pass. 

I agree however that another person's credit history will have no impact unless you are financially associated e.g. through holding joint accounts. The fact someone who used to live at your address has a poor credit history will make no difference what so ever to your applications. 

I wouldn’t have thought a financial association would be relevant if applying for a savings account.

Its not, it more of in general terms the only way someone elses credit history can effect yours. 

The original poster actually said the account was "declined" so its not a failed ID check, which would just trigger physical kyc document request. 

The op should probably start a new thread as something strange must be going on with their credit file which they need to look into urgently.

RG2015

Sg28 said:

RG2015 said:

TheBanker said:

AmityNeon said:

Freedommm said:

Oxbury declined. They did those checks that they "don't do for savings accounts", or "shouldn't do" ie soft credit checks. Once again, its because my address has been used by someone else with bad rating.

Ps. I can be ok with that, since I never heard of Oxbury until two days ago. 

A soft search for a savings account verifies your identity, so your credit history is irrelevant.

Why do you believe a completely different person’s credit ‘rating’ has any influence on your application for a savings account? What, specifically, have you been told by Oxbury?

You should not spread misinformation like this.

The bit in bold is not completely true. There has to be a credit history for the soft search to verify the identity. It shouldn't matter what the credit history is - but if there is none then the ID check will fail. So someone who's got accounts with missed payments/arrears should still pass, but someone who's never had credit accounts (or other things like certain utility bills/mobile providers that report to the credit reference agencies) won't pass. 

I agree however that another person's credit history will have no impact unless you are financially associated e.g. through holding joint accounts. The fact someone who used to live at your address has a poor credit history will make no difference what so ever to your applications. 

I wouldn’t have thought a financial association would be relevant if applying for a savings account.

Its not, it more of in general terms the only way someone elses credit history can effect yours. 

The original poster actually said the account was "declined" so its not a failed ID check, which would just trigger physical kyc document request. 

The op should probably start a new thread as something strange must be going on with their credit file which they need to look into urgently.

Sorry, I re-read  @TheBanker ‘s post and deleted mine before I saw yours, as that is not what they were saying.

ForumUser7

UBL Raisin UK to 4.01%
Monument Bank to 4.00%

(Source ~ MoneyFacts)

pearl123

ForumUser7 said:

UBL Raisin UK to 4.01%
Monument Bank to 4.00%

(Source ~ MoneyFacts)

Cynergy and Al Rayan still to make a move. 

stehouk

Zopa 3.92% instant access
7 day boosted 3.96%
31 day boosted 4.06%
95 day boosted 4.16%

dingling68

stehouk said:

Zopa 3.92% instant access
7 day boosted 3.96%
31 day boosted 4.06%
95 day boosted 4.16%

Damn, beaten to it again 

Freedommm

AmityNeon said:

Freedommm said:

Oxbury declined. They did those checks that they "don't do for savings accounts", or "shouldn't do" ie soft credit checks. Once again, its because my address has been used by someone else with bad rating.

Ps. I can be ok with that, since I never heard of Oxbury until two days ago. 

A soft search for a savings account verifies your identity, so your credit history is irrelevant.

Why do you believe a completely different person’s credit ‘rating’ has any influence on your application for a savings account? What, specifically, have you been told by Oxbury?

You should not spread misinformation like this.

That is NOT what I was previously told by Coventry, for example. They specifically told me they were unhappy with the address having been used by someone they see as bad. 

Sg28

stehouk said:

Zopa 3.92% instant access
7 day boosted 3.96%
31 day boosted 4.06%
95 day boosted 4.16%

Hmm is that enough to renew my last 2 95 day pots out of laziness?... 

Teacherretired

Hi, Following yesterdays BoE Rate rise, I was looking at the Principality Building Society, Easy Access offer of 4.15% listed in the latest MSE issue thismorning. As always, I logged onto the FSCS website to check them out and they arent listed as being covered by the £85K protection scheme. I thought all those offers listed on the MoneySavingExpert site were protected or am I reading it wrong??

masonic

Freedommm said:

AmityNeon said:

Freedommm said:

Oxbury declined. They did those checks that they "don't do for savings accounts", or "shouldn't do" ie soft credit checks. Once again, its because my address has been used by someone else with bad rating.

Ps. I can be ok with that, since I never heard of Oxbury until two days ago. 

A soft search for a savings account verifies your identity, so your credit history is irrelevant.

Why do you believe a completely different person’s credit ‘rating’ has any influence on your application for a savings account? What, specifically, have you been told by Oxbury?

You should not spread misinformation like this.

That is NOT what I was previously told by Coventry, for example. They specifically told me they were unhappy with the address having been used by someone they see as bad. 

That sounds like a rogue employee making stuff up. A bank cannot use a previous occupant as a reason to reject your application and there will be nothing in your credit file about previous occupants of your current address unless you have joint finances (e.g. joint bank account or mortgage) with them. However, they could refuse you if they cannot find evidence that the stated address is your primary residence, or doesn't exist, or the person they 'see as bad' is a member of your current household.