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