Why are my bank checking ICB - are they allowed?

C

copperie

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I just got my credit report from ICB, no problems at all except one thing...

I have an overdraft with my bank (no loans, mortgages etc) with this institution and in the past due to direct debits etc I've gone over the limit, payed the fees and I've always been back to black within a few days.

Once, a year and a half ago, I applied for a loan with them, which they rejected because of the above, I sent an e-mail to the bank manager expressing my dissatisfaction they turned me down on this reason as I was a long-standing customer, he never replied.

Anyway, my ICB report has only one entry from only a few days ago from a bank accessing our details and it's my account holder. I thought they needed permission to access my credit info on the basis of my applying for something with them, which I haven't in 1.5 years? why would they be checking on me now?
 
Open to correction on this, but I think they need your permission to give information to the ICB, not to request it.
 
dont think so, banks can report missed payments/defaults on loans, mortgages etc but need your consent to view which you give them automatically upon signing application for credit
 
They definitely require your consent to disclose information (payments/ defaults etc.) about you to a third party (ICB) - you give this consent when you apply for the loan.
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I think it is standard practive that you are informed when applying for a loan that that will be requesting information also, but I am not sure if they specifically need your consent to do this.

In any event, if you still have your overdraft in place they are providing you with a credit facility and you would have signed the necessary consent when applying.

Accessing your ICB record could be part of their (usually annual) internal credit review process when deciding whether they continue to provide the facility.
 
You have to give the bank the right to check your ICB report. I am not sure if the permission you gave them when applying for something 1.5 years ago still counts. I would have my doubts that it does and you would have a case to ask them why they are accessing your file even though you haven't applied for anything. The previous poster is probably right. Maybe if you have a overdraft facility they have an ongoing right to check up on you. They may do depending on what you signed when setting up the account.
 
It's in the terms and conditions when you apply for the overdraft/loan - must admit it is unusual that they would complete a check now when you haven't looked for a new facility - I'd suggest you ask them why they completed the request.

Regards,


BM
 
Thanks for the comments here guys, good to know it seems within reason to ask them about it. I'm going to close my account with these people anyway, they're highstreet. I opened a second account in my local town and the manager acts like he actually cares about your business, understands you personally and is willing to speak to you like an equal human, not just a series of numbers on a sheet.
 
Hi Copperie

I don't want to appear alarmist but I would definitely ask them straight away. It is possible that somebody else has applied for credit or a loan in your name - identity theft is a growing business......

Regards
Dicey
 
"my ICB report has only one entry from only a few days ago from a bank accessing our details "

Is it possible that the entry a few days ago was your own request for a copy of the report?
 
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