Can banks access other bank's info?

braceface

Hi there
I was on a while ago about my ex husband accessing my bank a/c information. I have since opened an a/c with another bank and use that for savings etc and use the old a/c for child maintenance and day to day purchases (creche, groceries, petrol etc)

Now, I have been left a small sum of money by my gran. If I put that into my new savings a/c can my ex or his bank access another bank's accounts?? Am I making sense?
Thanks, b.f.

BuffyBot

How do you think that would work? Do you have access to your competitors computer systems where you work?

Bank A ||||| Brick wall ||||| Bank B

braceface

I am going throught the MARP process, so wasn't sure if banks work together to ensure people aren't 'hiding' money in alternative accounts

Jim2007

braceface wrote: »

Now, I have been left a small sum of money by my gran. If I put that into my new savings a/c can my ex or his bank access another bank's accounts?? Am I making sense?
Thanks, b.f.

No banks don't have access to the accounts at other banks, but then again he would not need to!!! If he is aware of the fact that your grandmother has died then he or his solicitor could apply to the probate office for details.

kearnst2

At present there is no way for banks to share information like this however there is plans for a central register currently in progress and this will be in operation in the coming years.

Essentially it will be used to access the total viabilty of a potential borrower. Currently if someone is doing business with a bank it is not possible to see exactly what loans/borrowerings/security they have with other banks but this will eliminate this to ensure a better risk analysis going forward.

unclebill98

braceface wrote: »

I am going throught the MARP process, so wasn't sure if banks work together to ensure people aren't 'hiding' money in alternative accounts

You would need to give your bank written permission for them to get the information aka "Status Enquiry". If on the statements you show have transfers to your new accounts then they are well within their rights to ask about that transaction thus leading to such a request etc.

Under MARP training, lump sums etc can be asked to be used for paying off debt however with the amount of redundancy money floating about a simple "Its all i have in case of an rainy day" is the most common response to that question. So normally some(small amount) of it is used and this is scalable to the amount in questions. MARP is a open ended process where one case it not the same as the other.

unclebill98

kearnst2 wrote: »

At present there is no way for banks to share information like this however there is plans for a central register currently in progress and this will be in operation in the coming years.

Essentially it will be used to access the total viabilty of a potential borrower. Currently if someone is doing business with a bank it is not possible to see exactly what loans/borrowerings/security they have with other banks but this will eliminate this to ensure a better risk analysis going forward.

Is that not called a "ICB" search???

kearnst2

Previously this process would have been done through an ICB search however not all institutions were equired to register the information with the ICB so this resulted in results which were not 100% accurate. Also this process was not quick or efficient.

With the new process of the central register the banks themselves will have direct access to the register with their systems being linked into the register. This makes for a much more accurate and speedy process.

Anatom

An ICB search will only tell you whether someone has missed a payment on a loan. It won't tell you how much the person owes or anything else. Its used by banks to check credit histories. The rest of their information has to come from the customer - hence the requests for statements, salary slips, tax certs etc....

braceface

My ex is aware that my gran died, but it was almost 2 years ago and I wasn't expected to inherit anything so I don't think he'll think to come looking for it.

Thanks for the help, think I'll leave the money with my dad for now.......