Does the receipt of welfare benefit payment, into a bank account, affect the recipient's credit rating?

Roedd y cais yn rhannol lwyddiannus.

Florence Elizabeth Constance Daisley

Dear The Money Advice Service,

I am a trainee accountant (2nd year). My request is in connection with information needed for the completion of a dissertation.

Please provide all/ any documentation which provides details of how a person's credit rating is affected, if at all, by the receipt of welfare benefit payments into a bank or building society account.

I am interested in documents which detail the types of information shared by financial institutions to inform individual credit histories.

Additionally, please provide details of policies which set out the circumstances, if any, in which the DWP is able to access private financial data of claimants.

Yours faithfully,

Florence Elizabeth Constance Daisley

Enquiries, The Money Advice Service

Thank you for contacting the Money Advice Service.
 
We will aim to respond to you're email within 2 working days.
 
In the meantime please feel free to browse our
website [1]www.moneyadviceservice.org.uk 
 
Kind Regards
Enquiries
Single Financial Guidance Body

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Single Financial Guidance Body

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Enquiries, The Money Advice Service

Dear Florence Elizabeth Constance Daisley, 
Thank you for contacting the Money Advice Service.
The Money Advice Service gives free impartial and unbiased guidance. We
are funded by the Government to provide UK money guidance. We would be
unable to comment on what the DWP can and cannot do as we do not have
access to that information. 
In the UK, companies called credit reference agencies have information on
how well you manage credit and make your payments. 

The three main CRAs are:

* Experian

* Equifax

* Callcredit.

Your credit report typically holds the following information:

[]^

* A list of your credit accounts.
* Details of any people who are financially linked to you, for example,
because you’ve taken out joint credit.
* Public record information such as County Court Judgments, house
repossessions, bankruptcies and individual voluntary arrangements.
These stay on your report for at least six years.
* Your current account provider, but only details of overdrafts.
* Whether you are on the electoral register.
* []^Name, date of birth, current and previous address.
* If you’ve committed fraud, or someone has stolen your identity and
committed fraud, this will be held on your file under the CIFAS
section.

You can see further information here:
https://www.moneyadviceservice.org.uk/en...
I trust this guidance has been helpful. 
Further information and links can be found on our website. 
Alternatively, if you would prefer to speak to one of our advisers, please
get in touch with our contact centre on 0800 138 7777. We are open Monday
to Friday, 8am to 6pm. 
You can access our webchat service via our website: 
[1]www.moneyadviceservice.org.uk.  

Kind Regards,

Jade

dangos adrannau a ddyfynnir

Florence Elizabeth Constance Daisley

Dear Enquiries,

Thank you very much for your rapid response and for the information provided.

Yours sincerely,

Florence Elizabeth Constance Daisley

Enquiries, The Money Advice Service

Thank you for contacting the Money Advice Service.
 
We will aim to respond to you're email within 2 working days.
 
In the meantime please feel free to browse our
website [1]www.moneyadviceservice.org.uk 
 
Kind Regards
Enquiries
Single Financial Guidance Body

singlefinancialguidancebody.org.uk
This communication and any attachments contain information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. If
you have received this email in error please notify
[email address] immediately and delete the
email from your computer. This email is not intended to nor should it be
taken to create any legal relations or contractual relationships.

References

Visible links
1. http://www.moneyadviceservice.org.uk/

The Money Advice Service

Thank you for contacting The Money Advice Service.

 

Your email has been passed on to our Customer Service team who will
respond to your query shortly.

 

Regards

The Money Advice Service
Single Financial Guidance Body

singlefinancialguidancebody.org.uk
This communication and any attachments contain information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. If
you have received this email in error please notify
[email address] immediately and delete the
email from your computer. This email is not intended to nor should it be
taken to create any legal relations or contractual relationships.

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