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Old May 13, 2015 | 9:54 am
  #1828  
winebug
 
Join Date: Dec 2014
Programs: CX, AF, UA
Posts: 214
Originally Posted by abari
...I thought it was standard for a credit pull when opening a chequing account with a new bank?
No, unless you request a credit product, or want cheques deposited into the account immediately available during the first month of account opening instead of waiting 7 days, banks have no reason to do a pull other then hitting your score.

Watch it when you sign the papers you tick the box you do not want credit pulled and do not want any credit products (having a cheque immediately available upon deposit is considered a credit product believe it or not).

Bankers think it is good to hard pull you on account opening, and don't mention it is hidden deep in their T&C.

If you want to make 100% sure, don't give your social insurance number. Yes, they can open an account without your number ... you're just limited in your movements during the first month.

Legally they can not force you to accept the hard pull, but they can refuse you to open an account.

Just argue your way and point them to the bad consequences of their action, you're just opening to park money kind of thing (and do it) and don't need credit products. The after opening, ask for the credit card, or wait 6-9 months parking a steady amount every month to get a pre-approval. Usually works.
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