is this a inquiry

[oracles]

When opening a new checking or savings account, does the bank check my credit report and is that counted as an inquiry on my credit report. Thanks

[MidnightVoice]

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oracles wrote:
When opening a new checking or savings account, does the bank check my credit report and is that counted as an inquiry on my credit report. Thanks

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Very often yes, and if they do, yes.

[oracles]

Is it a hard pull or a soft pull? I don't know why it has to be a hard pull since i am not asking for credit.

[Anonymous]

Us either - but usually is a hard-

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oracles wrote:
Is it a hard pull or a soft pull? I don't know why it has to be a hard pull since i am not asking for credit.

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[Anonymous]

I opened savings and checking accounts a month ago, and it was a hard pull. I think there are two reasons for this:

1. They gave me a debit card with the Mastercard logo.
2. They insisted on overdraft protection, which is equal to asking for credit.

[wmarat]

It depends on bank.

I think WAMU and Valley National Bank of NJ pull soft for checking, but most banks pull hard wrongly justify it by Patriot. Act.

[fused]

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wmarat wrote:

It depends on bank.

I think WAMU and Valley National Bank of NJ pull soft for checking, but most banks pull hard wrongly justify it by Patriot. Act.

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Oh, how I agree with your statement! It's complete BS for a bank to cite the PA. How many of us have inaccurate info on our reports. A DL or a passport is all that should be needed to prove one's identity.

[wmarat]

You are right. It does not make any sence to pull hard for non-credit products. If bank or utility company needs to identify me they can compare my current face to photo on my DL, Green Card, 2 foreign passports and my DW's keychain.

And if bank pulls credit report why it should be hard, what, soft can not identify me?