Does opening a bank account affect your credit score?

4 min read

Updated: Jul 16, 2026

Written by

Emily Tye

Reviewed by

Amy Lancashire

Opening a bank account usually has little lasting effect on your credit score. Whether it has any impact at all comes down to whether your bank runs a soft credit check, which other lenders can't see, or a hard credit check, which can cause a small, temporary dip. That varies from bank to bank. The main exception is an account with an arranged overdraft: because that's a form of borrowing, it can affect your score in its own right.

Below is what actually gets recorded, when an account can move your score, and what to watch for if you're planning to apply for credit soon.

When opening a bank account can affect your credit score

Two things can show up on your credit file and impact your credit score:

A hard credit search, if the bank runs one when you apply. This is visible to other lenders. A soft search isn’t visible to other lenders, so it doesn't count here. The difference is explained below.
Any borrowing attached to the account, such as an arranged overdraft. An overdraft is treated as a credit product in its own right: it shows on your file with its limit, and how you use it feeds into your score much like a credit card. Using a large share of the limit can weigh on your score, while keeping usage low or clearing it is better. Here's how an overdraft affects your credit score in more detail.

Other than that, the way you use the account day to day (e.g. your balance and transactions) is not reported to the credit reference agencies, so it doesn't form part of your score.

Soft credit checks vs hard credit checks

In most cases, whether your score moves at all comes down to the type of check the bank runs when you apply.

Soft credit check: A light identity and eligibility check. Only you can see it on your report, and it has no impact on your score. This is confirmed by Experian, which states soft searches "aren't visible to companies – so they have no impact on your credit score".
Hard credit check: A full search that other lenders can see. It can cause a small, temporary dip in your score. How long it stays on your file depends on the credit reference agency: Experian and Equifax remove most hard searches after 12 months, while TransUnion keeps searches on your report for 2 years. The effect on your score is usually small and eases well before the search drops off.

Which type you get depends on the bank; you can confirm with your bank directly, either online or by getting in contact.

Does it depend on the type of account?

To a point. Whether a hard check is likely can come down to whether the account involves any borrowing, though it still varies by bank:

Basic bank accounts: These have no overdraft or credit features, which is why a soft credit check may be enough.
Savings accounts and cash ISAs: Similarly, here you're depositing your own money rather than borrowing, so a soft check may suffice.
Standard current accounts: It varies here. Some banks run a soft check, others a hard search, so it's worth checking first.
Accounts with an arranged overdraft: The most likely to involve a hard check, because you're applying for credit as well as an account.

Does switching bank accounts affect your credit score?

Switching can affect your credit score slightly, but only because it means opening a new account, which can involve a hard credit search depending on the bank. Where it does, you might see a small, temporary dip, just like opening any account.

The act of switching itself – redirecting your payments and moving your balance – doesn’t affect your score.

Switching is common: the Current Account Switch Service handled 319,529 switches in the first quarter of 2026, up 43% on the same period a year earlier. And if anything goes wrong during a switch, the Current Account Switch Guarantee means your new bank will correct any payment problems and refund any charges or interest that result.

Should I avoid opening an account before applying for credit?

It depends on the type of check the account involves. A soft search won't affect your credit score, so from that point of view there's little reason to wait. A hard search is different: it leaves a mark on your file and can cause a small, temporary dip.

So if you've got a mortgage or a large loan coming up, it's worth checking which type a new account uses before you apply, and holding off on any that would add an unnecessary hard search.

If you have time to spare, it's also a good moment to focus on how to improve your credit score instead.

FAQs

Do banks check my credit score when I open an account?

Most run some form of check, but the type varies. Some run only a soft check to confirm your identity and address, which doesn't affect your score. Others run a hard search, which may be more likely if the account includes an overdraft. If it matters to you, ask your bank which they do.

Being registered to vote helps a bank confirm your identity and address, and it's also one of the things that supports your credit score more generally, which is why being on the electoral roll matters.

Does opening a savings account affect my credit score?

Usually not. Because you're depositing your own money rather than borrowing, there's normally nothing for a lender to assess, so a soft check is the typical case. It can still vary by provider, so check if you're unsure.

Does having multiple bank accounts affect my credit score?

Simply holding several accounts doesn't lower your score. The number of accounts you have isn't a scoring factor on its own. What can have an effect is opening several in quick succession, if each one triggers a hard search.

Does a joint bank account affect my credit score?

Opening the account follows the same rules as any other. The bigger point is that a joint account creates a financial link between you and the other person, and lenders may look at their credit history alongside yours when you apply for credit in future. Learn more about joint accounts and the impact on your credit score.

To understand the full picture, see our guide on what affects your credit score.

There are a range of financial products available that may suit your needs. We encourage you to research your options carefully and consider seeking independent financial advice before making any decisions. This blog is for informational purposes only and does not constitute financial advice.

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