NatWest refuse to remove their hard search.

finalfantasist

Ramon1 said:

finalfantasist said:

It's not vague, it covers them if they do a search and covers them if they don't.  If they said "we will do a credit search" some idiot would probably be claiming compo for not being searched.

Nowhere on their website is stated that their credit searching "is a step by step process" like they wrote me in the email. And performing 2 searches for 1 incomplete application is just ridiculous, if not outright moronic.

Btw, I would really like to see some idiot complaining about not being searched.

It says they might perform a credit check, and they did.  Whether it is a step by step process or not is not relevant to you.  You were warned they might perform a check, you shouldn't have proceeded with the application if a check was a problem for you.  You did, which is on you.

I agree that two hard searches (if they're for the same thing) shouldn't have been done, but all you have to go on a the moment is a vague "Hard Search" x 2  warning on Clearscore so it's not clear whether these are for the same thing or not.  Might be best to find that out before you start ranting at Natwest (again.)

Fighter1986

Deleted_User said:

The odd search for finance has little to no impact on any future rating, particularly at the moment there are many more important reasons as to why you might get credit declined, not because you applied for a current account.

The effect is both cumulative, and varied- depending on who you apply to they will weight recent searches differently.

The point is here, that the customer has not submitted a formal application for a credit scored product, let alone two, so his credit file should not suggest that he has.

The effect is irrelevant, it's the fact that the presence of these footprints is misrepresentative and therefore potentially a breach of DPA / GDPR. 

MattMattMattUK

Ramon1 said:

Both are for rewards.
One is a credit card which I pay off in full each month and the other is a current account with no overdraft. I hope lenders are not too dumb and can work out that this is not something that a struggling person would typically do. Or do people in financial difficulties usually apply for new current accounts with no overdraft and pay off their credit cards in full?

That depends, someone is made redundant, during their redundancy applies for a bunch of cards so that they have the cards available to run up debt on whilst they are unemployed, but in the interim keeps up their payments to keep up appearances until they have what they want. 

It is not that you pay them in full, it is that, in a short period of time you applied for two new accounts, you have then a month or two later started applying for more. In the current risk climate, where banks are looking to minimise their potential liabilities and losses, why take on a customer who might be a risk, when the profit from them is very small. Many banks are only allowing new cards with low limits, others are refusing increases in credit limits as a blanket ban, most banks will not open business bank accounts at the moment and overdrafts are not being as freely granted as before, even with the far higher interest rates which are now being charged on them. 

We are in the middle of the biggest economic crisis in a century, many jobs which seemed secure are no longer secure, many people who previously managed their finances in an exemplary way are no longer doing so, banks are struggling to adjust their risk profiles and so are being overly cautious, someone applying for lots of new accounts has always been a warning sign, in the current climate even more so. 

Jumblebumble

phillw said:

Jumblebumble said:
Nat West hard searched me even though I am not and never have been a customer although my partner is.

They were unable to tell me why but kindly gave me £100 compo in return for my disappointment and suggestions that the ombudsman and ICO  would be interested in not getting a straight answer

Is there a trick to getting them to hard search you, so you can receive £100?

I think they searched because my partner applied to open an additional savings account just like the OP
I assume they  realised that although I am linked via our mortgage account that does not give them any right to hard  search me as I had no relationship with them and I had not consented to them doing so which is probably a breach of GDPR.

Jumblebumble

Ramon1 said:

Hi all.

I've been a NatWest current account customer since 2018.
In December 2020 I got an idea that it might be good to open another NatWest current account for rewards. However, I was planing to open it in 2021 after applying for another product with a different bank. Just out of curiosity, and perhaps because I had nothing better to do that December day, I decided to have a look at what the NatWest application process looks like, whether my personal details will be pre-filled, etc. OK, my details were pre-filled, I typed in some additional info about my income which has increased since 2018, clicked Next, but I did not proceed to the final stage of the application. I just cancelled it simply because, like I said, I wanted to do it after the other application in early 2021 which is more important for me.

At this point you all probably have an idea of what happened. Of course, NatWest hard searched me, even though I never proceeded to the final stage of the application. What I expect from a normal bank is collect up your info first and then run a search. I filed a complaint with NatWest and received an answer that "The application process does not necessarily start at the end when you click a complete button because it is a stage by stage process. I can confirm we’ve followed the right process and there has been no bank error. I’m sorry this is not the response you were hoping for."

I objected that this will appear on my files as "application for credit", which is not what happened. Since I never actually applied for anything, I find this nonsensical and misleading for other lenders. If I had really applied for a new product then I would have received a letter or an email informing me about the outcome of the applications. Is that correct? I haven't received anything at all! I don't know whether I was approved or declined, what my OD limit would be, or anything else. Yet NatWest are obiously insisting on keeping the "application" on my files. What's worse, it looks like it's actually 2 searches, not just 1.  If I decided to proceed to the final stage and finish the application, would that mean 3rd search or maybe even 4th search? It looks like each time you press the Next button, they run another hard search.

NatWest in their reply also said it is "clear on their website" that this will happen. But I think it is not. They gave me this link - edit, MSE system won't let me to post the link here since I'm a new member. Just google: "NatWest How we use your information". That's the page they sent me a link to.

Is any part of the website making it clear that I will be hard searched at the very beginning of the application? Is this what other banks do as well? Because I think they don't.

So I ended up with a new search(es) for literally nothing. Now it will look on my files like I have applied for credit and got rejected because there will be a hard seach without any new account opened following the search. I'm really angry about this.

They even said, I can take it to the financial ombudsman "although they hope I will not". Do you think there's any chance they will remove it?


Thanks!

Have you made a formal complaint ?

Ramon1

Jumblebumble said:

Have you made a formal complaint ?

If you mean a letter, not yet.
I've used the complaint form on their website and they replied by email. I then replied back and they replied again (different person) but more or less the same copy-paste answer.

Ramon1

finalfantasist said:

It says they might perform a credit check, and they did.  Whether it is a step by step process or not is not relevant to you.  You were warned they might perform a check, you shouldn't have proceeded with the application if a check was a problem for you.  You did, which is on you.

It DOES matter. Why is it a problem to warn people about their step-by-step process?
What if you just open the application and then change your mind? What if the search have been done already, just by opening the application? How in the world is that OK from your point of view? Just because they say "they might do a search"?

Normally you still need to tick some box and agree with credit check, don't you? That's what any respectable bank should always do. Have you read what Fighter1986 wrote here on 14th January?

And again, it is misleading to other lenders. It says that I have "applied for credit", which I haven't.

Can you tell me what is the purpose of credit reports? I thought it is to provide lenders with informations as accurate as possible. Now tell me how accurate is "application for credit" on your files when you literally haven't applied for anything. Just because a stupid bank is doing their step-by-step process, rather than gathering all the info first and then run a search. They've literally put false information on my credit files.

finalfantasist

Ramon1 said:

finalfantasist said:

It says they might perform a credit check, and they did.  Whether it is a step by step process or not is not relevant to you.  You were warned they might perform a check, you shouldn't have proceeded with the application if a check was a problem for you.  You did, which is on you.

It DOES matter. Why is it a problem to warn people about their step-by-step process?
What if you just open the application and then change your mind? What if the search have been done already, just by opening the application? How in the world is that OK from your point of view? Just because they say "they might do a search"?

Normally you still need to tick some box and agree with credit check, don't you? That's what any respectable bank should always do. Have you read what Fighter1986 wrote here on 14th January?

And again, it is misleading to other lenders. It says that I have "applied for credit", which I haven't.

Can you tell me what is the purpose of credit reports? I thought it is to provide lenders with informations as accurate as possible. Now tell me how accurate is "application for credit" on your files when you literally haven't applied for anything. Just because a stupid bank is doing their step-by-step process, rather than gathering all the info first and then run a search. They've literally put false information on my credit files.

It's not false information. A hard search was performed for a current account, not a search for an "application for credit" or a "search because someone filled out the entire form and hit apply." You might think they're the same thing but they're not.

Don't go blindly filling in appreciation forms if you don't want to be credit searched.  Pretty simple really.

Ramon1

finalfantasist
It's not false information. A hard search was performed for a current account, not a search for an "application for credit" or a "search because someone filled out the entire form and hit apply." You might think they're the same thing but they're not.

Don't go blindly filling in appreciation forms if you don't want to be credit searched.  Pretty simple really.

It says "credit application".  Lenders don't see what the application was for and by which bank.

Ramon1

If this is not a false information, then you agree that I have applied for a new line of credit, don't you?