Refused Bank Account by Santander

AdyMack

Hi - I've just been refused a current account with Santander. They say it's got something to do with information provided to them by Experian. I think this must be a mistake - I just checked my Experian Credit Rating and it's 992 out of 999 - they term this "excellent".
Also I already have a Select account with Santander - which is always in credit and which I thought they only offered to good customers as it has enhanced credit facilities. I didn't even want credit on the new account - I just wanted an additional account to park money in away from my main account for exceptional items (holidays, Christmas, etc).
It says I can appeal but does anyone know if their initial refusal will impact on my credit rating and if so what I should do about it??
Many thanks  

[Deleted User]

They mean they use the data from Experian - not the pretend score. They have only added a search to your file, so no harm done.

Check your file to see what appears in case something needs correcting. To be declined a bank account suggests all is not well.

You should also check your other files and perhaps CIFAS while you're at it.

MinuteNoodles

If you've already got an account with them and just want an additional account to park money for exeptional items and birthdays etc just open an Everyday Saver account online. No need to open another current account as you can transfer money to and from your main account to the Everyday Saver instantly in online banking or their mobile app.

As for the 992 score, plenty of bankrupts get 999 even when not discharged.

AdyMack

Thanks for the responses. Still unclear. I got the full credit report from Expedia. Absolutely nothing negative on it. No debts whatsoever, credit card repaid every month. No bills paid late. Absolutely nothing that needs correcting. Any ideas?   

[Deleted User]

AdyMack said:

I got the full credit report from Expedia. 

Hopefully you mean Experian.

Check CIFAS and the other CRAs.  If there's nothing on those, then you've simply failed their internal rules.

AdyMack

Haha - yes I meant Experian not Expedia. Sorry, everyone. What an idiot I am. Thanks for flagging this up ZX81.

funkycredit

If you have a Select account then email or ring your relationship manager and ask them to appeal it based on your existing account conduct. They are usually pretty good. 

I was refused a credit card and I asked my select manager to send over my income info (as salary wasn't paid on that account) and had email a few hours later accepted for credit card with a decent limit. So there's no harm asking them to appeal it / get underwriting to take a second look. 

george9071

I have an account with Santander, it took me under 5 mins to complete the savings account application really quick and easy. I wouldn’t bother opening a new bank account just for saving in, it’s pointless and with the everyday saver you do get a cash card also instant access. 

AdyMack

Thanks George and Funky 

notveryeducated

Deleted_User said:

They mean they use the data from Experian - not the pretend score. They have only added a search to your file, so no harm done.

Check your file to see what appears in case something needs correcting. To be declined a bank account suggests all is not well.

You should also check your other files and perhaps CIFAS while you're at it.

It won't be anything to do with CIFAS because OP applied to his current bank, and his existing account would have been closed down after they discovered his CIFAS marker. 

cymruchris

Could it be something as simple as they only want you to have one current account, and so automatically declined the second?