ICB Credit Report to open a Standard Halifax Current Account

[Papercut]

I yesterday went into Halifax bank armed with my various forms of acceptable ID. I informed them that I wanted to open a standard current account (not a high interest account), & that I didn’t require an overdraft, a cheque book, cheque guarantee card or credit card.

I went through the application process during which I was informed that my application would be subject to an ICB credit check. When I enquired why this was considering that I was not applying for any sort of credit & that the visa debit card that comes with the account would surely be declined if I were to attempt a transaction greater than available funds in my current account.

I was told that with the type of debit card (Visa debit card) that they supply, an ICB report was required. I don’t foresee any problem with the report, & went ahead with the application.

Does anyone else find it strange that they require this, considering if I had gone to Ulster Bank, for instance, I could have done the same thing & got a Visa debit card automatically with no ICB credit check? Or is it the case that I am being pre-checked for future credit, even though I stated I don’t require it?

 

[pjmn]

I'd suspect this will become 'standard procedure' from now on....

Presumably if a person has a poor credit history/account operation with one (or more) financial institutions - then the others will be less inclined to do business with them, on the basis that at some future stage the same thing might happen with them....

 

[Papercut]

Yes, maybe.

I was just looking at the terms & conditions on their website:

Subject to the Consumer Credit Act 1995 (where it applies), we may close your current account and end your agreement immediately without notice if:

• any judgment or other process is made or levied against you or any part of your property or assets;
• you are unable to pay your debts as they fall due or if any receiver is appointed over the whole or any part of your property or assets.

So, maybe this is their way of checking this.