Hi, I'm currently filling in a Standard Financial Statement for KBC with a view to restructuring a loan.
It states: "By signing this consent you acknowledge that KBC Bank Ireland may undertake searches with credit reference agencies (including the Irish Credit Bureau). The credit reference agencies will keep a record (usually for a year) and may disclose the fact that a search has been made to their other members. KBC Bank Ireland and its successors may use any information received as a result of a search to make credit decisions in relation to you, to help prevent fraud and to recover its property."
Does this mean they are checking our credit rating/history? Or does this credit search mean they will have access to account details with other banks/credit unions?
Thanks in advance for any information.
It states: "By signing this consent you acknowledge that KBC Bank Ireland may undertake searches with credit reference agencies (including the Irish Credit Bureau). The credit reference agencies will keep a record (usually for a year) and may disclose the fact that a search has been made to their other members. KBC Bank Ireland and its successors may use any information received as a result of a search to make credit decisions in relation to you, to help prevent fraud and to recover its property."
Does this mean they are checking our credit rating/history? Or does this credit search mean they will have access to account details with other banks/credit unions?
Thanks in advance for any information.