While Switching Bank Account to HSBC, being asked for Experian password.

jk_daniels

I've been banking with Natwest for more than a Year, but was planning to switch to HSBC.
So Applied online for the switch application from the HSBC Website.

It has been more than two weeks since then, now Everytime i call HSBC to get my progress on the Application process.
They say i have to provide them my Experian password to identify myself or else they won't progress the application any further.:shocked:

This is quite a surprise to me as i have banked with Other High St Banks incuding Nationwide , Natwest who have never
asked me for my Experian password.

I've tried to ask HSBC many times why do they need my experian password for identification.
I'm suprised they won't even accept my passport, Driving License , Council Tax Bill, Other Utility Bills for identification.:shocked:
Let alone i have an existing Bank ac with Natwest.

During the whole application process there was no mention of any experian account.
Banks can do their own credit checks then why do they need me to provide any info.
Besides i do not use Experian , i use other Credit Rating Agency.
Even if i was why should i give my password to the Bank.:think:


Just wondering if anyone else have faced the same issue with HSBC or any other Bank

Ben8282

Have never heard of this. Tell them you don't have one.

MeenaM

Not heard of this either and I have recently switched to them without being asked this,

colsten

Never, ever give any of your passwords to anyone. No respectable organisation would ever ask you for a full password, let alone one that relates to a third party.

If you are you sure you are talking to HSBC when you are calling, please raise a written complaint with them.

Ben8282

I have a possible explanation. Is it possible that you have misunderstood what is being asked here?
I recall some years ago when I made a credit card application with TSB I was asked to give a memorable word which I would be asked by the bank to confirm that they were speaking to me in the event that they should have need to contact me regarding the application. Could something similar have happened here? Could it be that they are not asking for your Experian password, which honestly makes absolutely no sense, but some type of password that you gave in your application that you would quote if you contacted them regarding the application and you have somehow misunderstood what is being asked?
This is the only thing that I can think of as being asked for your Experian password is so ridiculous that it defies belief.

Chino

jk_daniels wrote: »

They say i have to provide them my Experian password to identify myself or else they won't progress the application any further.

That's all you need to hear. Stop wasting your time with these numptys. There is no reason for HSBC to ask you for any password and the fact that they have tells you all you need to know about HSBC.

Just move along and apply elsewhere.

[Deleted User]

What utter nonsense

[Deleted User]

To protect myself from further fraud I once had a memorable word set up with Experian. Anyone applying for credit would be asked for it. Sure they're not asking for something like this?

18cc

"You can add a password to your Experian Credit Report for additional security. Adding a password to your Experian credit report will act as a warning to any lender who uses Experian for credit checking to take further steps to confirm your identity before proceeding with the application. Whilst this will not stop fraudulent applications being made it will make it much less likely that any applications made fraudulently will be successful."

http://www.creditexpert.co.uk/images/LetterTemplate_PasswordAddition.pdf

Jmaho

It is to do with what others have mentioned. You have additional security set up on Experian and any lenders that use Experian will need you to confirm this password in order to proceed. It's to protect against ID fraud. Not nonsense as many have suggested

colsten

Jmaho wrote: »

It is to do with what others have mentioned. You have additional security set up on Experian and any lenders that use Experian will need you to confirm this password in order to proceed. It's to protect against ID fraud. Not nonsense as many have suggested

I am sorry but it is nonsense that any respectable organisation would ask you for any full password. 2 or 3 random digits of a password, perhaps, but never a full password. Nothing in the link you provided does say anyone would ask you for a full password. All they do say is that lenders should "take further steps to confirm your identity before proceeding with the application". Having said this, I think there is every chance that you are right and the OP has set a password on their Experian account.