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Al Rayan problems
System
Posts: 178,408 Community Admin
This discussion was created from comments split from: LBG closing all my accounts on 18th May.
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
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I opened an Al-Ryan account. Had it 1 year fixed term matured and they sent the money back with interest in April 24. I was refused a current bank account recently...baffled I did a CIFAS SAR and it stated: 'Al-Ryan Bank PLC undertook a search on 08 Apr 2024 using your details - please contact AlRayan Bank PLC for further information'
I have no idea why they have done this. I am lodging a complaint with them. I see some other people have had issues can you advise me how you have resolved?0 -
Split into separate thread for clarityOfficial MSE Forum Team member. Please use the 'report' button to alert us to problem posts, or email forumteam@moneysavingexpert.com1
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A CIFAS search does not negatively impact you in any way. Only a CIFAS marker could, potentially.From what you say, it was merely a search, to which any financial institution with whom you have, or want to have, an account is entitled.
It is highly unlikely that your current account application has been turned down because of al Rayan.
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Nothing to complain about, they probably just did an identity check before paying you your money and the profit.
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Which bank refused you a current account? As others have suggested, it is completely normal to have activity relating to active relationships with financial institutions on your file and this would not affect your ability to open new accounts. The thread you posted in has a lot of details of things that could be a problem for maintaining a relationship with a bank. Do any of those fit the bill?
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Hi Masonic, it was Virgin Money (Clydesdale Bank) in May that declined me...even for their basic account - something which I haven't ever experienced before so sounded all a bit odd and coincidental - hence why I went to CIFAS. I've looked at the thread before posting and useful info on there also.
Having seen the responses then it sounds like the search is not negatively impacting me perhaps. I've just found it all a bit odd and a bit of a coincidence. Credit reports don't show anything either in relation to their CIFAS section.
I did a Hunters search and Virgin are on there but even though it was a decline the check was marked as 'clear'.0
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