third party on parents account

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onlyspinone
Posts: 16
by onlyspinone » Thu Nov 16, 2017 8:54 pm
I was wanting to be added onto my Mothers account as a third party just for emergencies if she became ill etc. We recently went into her branch and filled out the forms for this to be actioned. Today she received a letter saying that they were unable to add me to the account. Not once when we went into the branch did they say they would run a credit check or ask about my financial status. Our Iva has now completed and been signed off for a month. If they have ran a credit check will this now have a negative affect on my credit score and should the bank have checked without my permission or without telling me they were going to do it. I would not have tried to be added if they would have said they would check my credit score.

Many Thanks
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Foggy
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by Foggy » Thu Nov 16, 2017 9:07 pm
It is standard practice to run a credit check when being added to a bank account and this weill have been mentioned, albeit hidden somewhere, in the tons of small print on the application. It won't do any more damage to your credit score than the IVA is already doing and will disappear within a year.

Rather than be added to the acount you could consider taking a Power of Attorney out -- which will allow you to step in and control the account in an emergency -- the IVA will not affect this. There is a fee and the forms can be downloaded from the .GOV website. A bit long winded, but easy to do.
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onlyspinone
Posts: 16
by onlyspinone » Fri Dec 01, 2017 1:09 pm
Foggy wrote:
It is standard practice to run a credit check when being added to a bank account and this weill have been mentioned, albeit hidden somewhere, in the tons of small print on the application. It won't do any more damage to your credit score than the IVA is already doing and will disappear within a year.

Rather than be added to the acount you could consider taking a Power of Attorney out -- which will allow you to step in and control the account in an emergency -- the IVA will not affect this. There is a fee and the forms can be downloaded from the .GOV website. A bit long winded, but easy to do.


Thanks Foggy :D
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