Will opening a TransferWise account affect my credit rating?

Wombat442010

Background:  We are in the process of moving house and looking at selling some US shares.  From what we've read, transferring the money in USD into our bank account in GBP will lose us quite a bit because of bad bank exchange rates.  We've been advised to create a Transferwise account and move the money that way as they have much better rates.  But...
Question:  Will setting up a TransferWise account affect our credit file/ rating.  We've had our mortgage offer already, but don't want anything hitting the file and flagging to the mortgage company and potentially affecting the move process.  (Maybe it wouldn't, we just don't know and don't want to risk it!).
Can anyone advise me?  Thank you

dr_adidas01

Wombat442010 said:

Background:  We are in the process of moving house and looking at selling some US shares.  From what we've read, transferring the money in USD into our bank account in GBP will lose us quite a bit because of bad bank exchange rates.  We've been advised to create a Transferwise account and move the money that way as they have much better rates.  But...
Question:  Will setting up a TransferWise account affect our credit file/ rating.  We've had our mortgage offer already, but don't want anything hitting the file and flagging to the mortgage company and potentially affecting the move process.  (Maybe it wouldn't, we just don't know and don't want to risk it!).
Can anyone advise me?  Thank you

Nope as they don't do a credit check only an ID check.

jcontest

They don't even do a soft check.

Also, you don't need the card if your just going to do account <-> account transactions.

My kids opened it without issue, all three CRA's say my daughter doesn't exist, but I can say for sure that none of the CRA's checked me or my son for this account (had mine ~3 years).

Also use a invite code if you can, it should lower the cost of your first transfer.