Do Banks Run A Credit Check When Opening An Account. They may instead run a chexsystems report. They do this by running a bank history report on you which is different from a credit check. It s important to find out if the bank will perform a hard credit check since a hard inquiry can negatively affect your credit score and may not be worth opening the checking or savings account.
Most financial institutions will conduct a credit check also known as a credit pull or inquiry when you apply to open a savings account. They may instead run a chexsystems report.
According to experian one of the three main credit bureaus banks and credit unions don t check your credit score when opening these two bank accounts.
They do this by running a bank history report on you which is different from a credit check. Most financial institutions will conduct a credit check also known as a credit pull or inquiry when you apply to open a savings account. Some banks and credit unions will pull your credit report as part of the vetting process for customers looking to open a new checking account. It s important to find out if the bank will perform a hard credit check since a hard inquiry can negatively affect your credit score and may not be worth opening the checking or savings account.
