5 ms·
There are other implications to switching banks, e.g. credit reference agencies will often deduct points if you frequently switch current accounts and/or don’t
by djmobley 7y ago
There are other implications to switching banks, e.g. credit reference agencies will often deduct points if you frequently switch current accounts and/or don’t have at least one long-standing account.
Also worth noting many of the challenger banks do not yet report to any/all of the three main credit reference agencies.
- loriverkutya 7y agoMonzo and starling does, Revolut does not have a bank license in the UK.
- djmobley 7y agoMonzo report to TransUnion and Experian (as of last month), but not Equifax. Starling report to Equifax and TransUnion, but not Experian. I don’t believe Revolut report to anyone.