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  4. Does my debit card and bank account need to be registered in my name and current home address?

Does my debit card and bank account need to be registered in my name and current home address?

YES 👍

Both applicants and guarantors must have a debit card and bank account registered in their own names at their current permanent address.

  • This helps lenders to be able to verify your details so that they can protect against identity theft, fraud and so that they comply with money laundering regulations.
  • Many lenders use an address verification system which will electronically match your card number to the address on file with your card company.
  • Your address cannot be validated if it does not match the address on file with your card company.
  • For additional security, some lenders also validate that your bank account is registered in your name and at your current home address.
  • So, if you have recently moved it might be a good idea to contact your bank with your new address.

 


> See NON HOMEOWNER loans <


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