List of banks with hard vs soft searches for current accounts

pecunianonolet

fm663 said:

RBS Second Current Account leaves a hard search in Equifax.

pecunianonolet can you please capture which bank leaves what type of search in what credit agencies?

Yes, RBS does a hard search for each and every new account like most banks. I could capture which bank leaves a marker with which CRA but don't really see the value in this info to be honest, especially that most banks use all 3 CRA anyway except of a few.

pecunianonolet

Is Metro Bank still only doing a soft search or do they now do a hard search as per their T&C's 

https://www.metrobankonline.co.uk/about-us/privacy/#credit-reference

Can anyone confirm having applied for one recently?

Digital_Payback

pecunianonolet said:

Is Metro Bank still only doing a soft search or do they now do a hard search as per their T&C's 

https://www.metrobankonline.co.uk/about-us/privacy/#credit-reference

Opened a current account with Metro at the beginning of Sept. 23

Soft search only on Equifax. 

No record of search of any kind on Experian or TransUnion. 

jackjones01

Do HSBC do a hard or soft search for a basic bank account? 

pecunianonolet

jackjones01 said:

Do HSBC do a hard or soft search for a basic bank account? 

Basic bank accounts usually provide basic banking functions to those with unfavourable credit files or history e.g. no overdraft. Banks obtain data usually by a soft search in this case.

https://www.hsbc.co.uk/current-accounts/products/basic-bank-account/

Check the T&C's documents to see if you find anything there, otherwise I would give them a call to double check. My assumption is, no hard credit check.

AstonSmith

Do you still get a hard search for non-basic accounts, even if you don't apply for an overdraft or other credit product?

pecunianonolet

AstonSmith said:

Do you still get a hard search for non-basic accounts, even if you don't apply for an overdraft or other credit product?

With most providers as per first page list, yes you get a hard search, regardless of overdraft or other credit product. If you need a current account without any hard search, use the ones mentioned, Metro, Starling, Monzo, etc. if you already bank with one of them, you should be easily able to open a second one. if you intent to use one of those banks in the future, maybe not ideal to open and switch straight back out as they might remember you and deny you an account in the future. 

OH used a Metro account for switching last year, no problems to open a new account for another switch now a year later. 

Firebolt

Unfortunately, I received a hard credit check via Clearscore (Equifax) when opening Metro Bank accounts on 3 Dec 2023. I opened both their current account and their Instant Access Savings account, and it looks like one hard check was recorded, I'm not sure for which account this relates to though.

I've also been notified via MSE Credit Club (Experian) that a hard credit enquiry has showed up, but I'm not able to view it yet. I suspect this was also due to Metro Bank.

I think Metro should, unfortunately, be removed from the list.

pecunianonolet

Firebolt said:

Unfortunately, I received a hard credit check via Clearscore (Equifax) when opening Metro Bank accounts on 3 Dec 2023. I opened both their current account and their Instant Access Savings account, and it looks like one hard check was recorded, I'm not sure for which account this relates to though.

I've also been notified via MSE Credit Club (Experian) that a hard credit enquiry has showed up, but I'm not able to view it yet. I suspect this was also due to Metro Bank.

I think Metro should, unfortunately, be removed from the list.

My partner and I both had new Metro current accounts and applied in early November and neither of us had a hard search. The savings account was for sure not responsible for the search. Did you apply for any overdraft? An overdraft would trigger the hard search because it is a credit application and they are always recorded.

boingy

I've opened three Metro current accounts this year. The first and the third had hard searches. The second one did not. I didn't make much sense

Personally, I think you can worry too much about hard searches. This forum has more than its share of scare mongering on that subject. A couple of searches really do not matter.