I keep getting refused when i try to open a bank account.?

Question

as soon as they do a credit check it comes back declined, they say they do not no why, Whot can i do

Answer 1

sounds like you may been a victim of ID THEFT and dont know it yet...

run your credit reports and check to see if there are things on there that are NOT yours (you didnt do/accounts you didnt open).

--10 MILLION people per year are victims of Identity Theft.

--Todays growing target for criminals; are children and teens identities (SS#). Why? Because parents never think to check/protect their childrens reports.

1) run a free credit report from each agency (your allowed one free one per year, per agency). you need to know, so you need to get them.
2) Check your childrens also (check the link below as to how to)
3) if ID Theft has occurred, you need to make a police report first. the rest of what you need to do, is listed in the links below (with GREAT info too).
4) some states allow you to 'lock' or 'freeze' credit reports; to protect against theft. if your state allows it, lock 'em down. that way, no one can open an account on them.
5) once you discover their credit reports have activity on them, then contact each credit reporting agency (the 3 major ones) and report the ID Theft... and request they lock the reports (usually they automatically do it, but ask for it anyway).

REMEMBER; you are only allowed to run credit reports on YOURSELF and YOUR MINOR CHILDREN (NO, not when they are adults).

To run a report on anyone else, they have to authorize it, and you better have proof of that authorization. If you do it without their knowledge, you are legally liable and they can not only report you to the state/federal authorities, but they may decide to sue you in a court of law.
http://www.ftc.gov/credit/
http://www.ftc.gov/privacy/index.html

http://www.ftc.gov/os/2002/05/67fr36585.pdf
“…security or integrity of such records; and
protect against unauthorized access to
or use of such records or information
that could result in substantial harm or
inconvenience to any customer.
EFFECTIVE DATE: This rule is effective on
May 23, 2003.”


'Active Duty' Alerts Help Protect Military
Personnel from Identity Theft
http://www.ftc.gov/bcp/conline/pubs/alerts/dutyalrt.htm



ID THEFT HELP/ INFO
http://www.usdoj.gov/criminal/fraud/idtheft.html
http://www.ic3.gov/
http://www.consumer.gov/idtheft/con_steps.htm
http://www.idtheftcenter.org/index.shtml
http://www.ftc.gov/bcp/edu/microsites/idtheft/
http://www.ftc.gov/bcp/conline/edcams/credit/index.html
http://www.fraudguides.com/consumer-identity-theft-children.asp
http://www.ripoffreport.com/
http://www.fightidentitytheft.com/
http://www.ncpc.org/media/current.php
https://rn.ftc.gov/pls/dod/widtpubl$.startup?Z_ORG_CODE=PU03
http://www.myidfix.com/
http://www.identitytheftassistance.org/index.html
http://identitytheftnow.com/


ORDERING CHILDRENS REPORTS
(yes, its free)
https://www.annualcreditreport.com/cra/helpfaq

ORDERING YOURS: ONLINE, PHONE, MAIL
(yes, its free)
https://www.annualcreditreport.com/cra/order

FAQ ABOUT CREDIT REPORTS
https://www.annualcreditreport.com/cra/helpfaq

FAIR DEBT COLLECTION
http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm

STATUTE OF LIMITATIONS
http://www.fair-debt-collection.com/statue-limitations-explained.html
EACH STATES SoL
http://www.fair-debt-collection.com/statue-limitations.html
http://www.fair-credit-reporting.com/credit-laws/credit-reporting-periods.html

CAPITAL ONE
http://articles.moneycentral.msn.com/Banking/YourCreditRating/WeirdStuffThatHurtsYourCredit.aspx?GT1=8885
Capital One refuses to report its customers' credit limits to the three major credit bureaus. Instead, the bureaus use the highest balance a customer has charged as a proxy for the limit.

As a result, the customers' all-important "debt utilization ratios" -- the portion of their available credit these borrowers are actually using -- can appear artificially high. That can depress borrowers' credit scores, the three-digit numbers lenders use to help determine creditworthiness.

Lower credit scores can mean higher interest rates on mortgages, car loans and other borrowing, as well as potentially higher insurance premiums, since many insurers also use credit-scoring systems to help gauge risk.


CREDIT REPORT INFO / REPAIRS / DISPUTES
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.htm
http://www.kiplinger.com/columns/starting/archive/2007/st0221.htm
http://www.bankrate.com/brm/news/cc/20040116b1.asp
https://www.annualcreditreport.com/cra/helpfaq
http://www.bankrate.com/brm/news/forms/credit-report-error-fix.asp
http://www.bankrate.com/brm/news/bankruptcy/20070313_credit_report_stains_a1.asp
http://www.bankrate.com/brm/news/forms/credit-report-error-fix.txt
http://bankrate.com/
http://www.occ.treas.gov/customer.htm

TO ORDER A FREE CREDIT REPORT
(all three are free once a year)

Equifax
P.O. Box 740241
Atlanta, GA 30374
www.equifax.com
1-800-685-1111
_______________
Experian
P.O. Box 19719
Irvine, CA 92623
www.experian.com
1-888-397-3742
_______________
TransUnion
P.O. Box 2000
Chester, PA 19022
www.transunion.com
1-800-916-8800


FIND YOUR REPS
http://www.usa.gov/
http://www.usa.gov/Agencies/State_and_Territories.shtml
http://www.nga.org
http://www.naag.org/attorneys_general.php
http://judiciary.senate.gov/

Answer 2

Refused A Bank Account

Answer 3

This is unusual because the basic bank account is supposed to be available to everybody. The bank cannot refuse to open an account even if you have county court judgements. If you are a bankrupt it can be more difficult, but you should be able to get the basic account.
Type in basic bank accounts in a search engine and look for the one with the best facilities like a debit card and apply online. Sometimes you have to go round those automatons that work in the branches.
We all need a debit card in this day and age, so I have listed the banks that give a debit card on a basic account. Natwest, Halifax, Yorkshire, Co-op, Abbey, they are all listed on the website.
Get your credit file, but be prepared for mistakes on it and complacency from the credit reference agency. If anything is wrong, or it doesn't relate to you, ask them to remove it ( they won't because creditors cannot be wrong- EVER, and you don't matter). You can write a footnote to go on your file, stating your side of things.
Apply online and then just take your ID into branch. If you have any further problems, contact me.

Answer 4

if you do not to your knowledge have bad credit then your best bet would be to contact Experian for a copy of your credit report. This will show all information held about your finances and may show why you are being refused.

if you have not previously held any credit this can also go against you but personally i wouldn't have thought this would have mattered when opening a current account.

If you still have trouble why not open a basic bank account (most banks allow you to open these) - they are basically the same but do not offer any credit facilities such as an overdraft or cheque book. Once you have held one of these for 6 months the bank will then consider opening you a current account if you have proved yourself as 'credit worthy'. banks such as Halifax, natwest, Co-Op offer a debit card facility known as a VISA ELECTRON - you can use this in supermarkets etc but it will only allow you to spend what you have available in the bank.

Hope this helps and good luck x

Answer 5

If you are declined when you try to open a bank account, the banks are by law supposed to send you a letter stating the reason why and the company they got the information from. The reason why does not really have to be specific though.

You then can send a copy of that letter to the company to get a free copy of the report.

Most likely you were refused because of chex systems(or similar). This is a company that keeps tracks of people and checks that they bounced. When you get a copy of the report you need to make sure it is accurate, if it is not you can dispute it have it removed.

Answer 6

You are entitled to a free credit report when you are denied for anything (credit cards, loans. bank accounts, etc.). Ask the bank which credit bureau (or bureaus) they use to make their decisions. Once you find that out, contact that credit bureau within 60 days of your denial and request a free report. That will hopefully give you a clue as to what the bank is seeing to make them deny you. If there is incorrect information, dispute it and have it removed. If there is negative information that is accurate, take care of those accounts and then try again.
Good luck!

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Answer 9

you can contact a company called experian they will give you a credit report online, however are you applying for a fancy bank account or a plain hole in the wall account ? also are you on the electrol role ? i had trouble getting a account and i managed to open one with barcleys, just a basic acount .

Answer 10

You need to get hold of your credit check file to see where your bad credit rating is showing. You can do this on line and one of the credit rating companies is Experian. You need to check it when you receive it as someone could have stolen your identity and be using it to run up debts. Alternatively there could be a mistake on your credit rating file in which case you would need to write to them, preferably with proof, that they have got it wrong. It could also be that someone has lived at your address who had a bad credit rating and it is the address which is causing the problem - again you would need to write to them and explain. Hope this helps, good luck.

Answer 11

Contatc Experian and Equifax, 2 companies who hold credit records of people.
You can get them to send you your credit file with all the information they have - it costs £2.
Then you can query anything that looks incorrect with the lenders (whose addreses are even included). They are able to tell Equifax and Experian to make changes.