Technical issues could affect credit ratings - Banking - News - Moneyfacts


Technical issues could affect credit ratings

Technical issues could affect credit ratings

Category: Banking

Updated: 02/08/2012
First Published: 02/08/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Recent technical problems at RBS, NatWest and Ulster Bank last month could have impacted on customer credit ratings.

The credit reference agency, Equifax, has warned that some credit files may have been damaged by payment issues last month.

The Payments Council has said that it is working closely with banks and three credit reference agencies, Equifax, Experian and Call Credit, to determine whether customer files have been affected by the technical glitch.

Customers have also been advised by the Council to check their credit files if they are concerned they have been affected.

Customers can claim the cost of the credit check back through their bank, if the check is made prior to the end of October this year.

Neil Munroe, external affairs director at Equifax, said: "We are recommending that consumers wait until at least August to obtain a copy of their report to ensure there hasn't been any negative impact.

"Our advice is that if someone is concerned that a payment hasn't been received, firstly they should check any accounts to which payments should have been made to see if they have been received. If not, they should contact the lender to advise them of the reasons for delay." Find the best bank account for you - compare bank accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

More people are switching current accounts

Competition in the current account market remains intense, which means if you’re not happy with your account for any reason, now’s a great time to switch! Happily, more and more people seem to be getting in on the switching action...

Financial services complaints continue to fall

Many people feel dissatisfied with their financial providers at times, but happily, it looks as though the most serious complaints are becoming less and less common.

Contactless spending hits yet another record

Contactless spending is going from strength to strength, hitting new records on a seemingly monthly basis - and it’s just broken yet another one, with monthly contactless spending having passed the £2bn mark for the first time.