Monzo PayPal charges

[rolanddeschain]

@anon49170733

i will be applying for a mortgage soon so worried it might add complications with the process that’s all…

You could ask for more information from the in-app chat, here on the forum from anyone who has been through the same process, or via help@monzo.com, but a quick search shows me:

@ilyon

We only run a ‘soft’ credit check when you open an account, and this leaves no digital footprint - you’ll have had this check done already when you opened your account.

@ilyon

When we refer to a ‘soft’ credit check and say this doesn’t leave a digital footprint, what we mean is that these kinds of searches don’t impact your ability to obtain other credit in the same way that a ‘hard’ credit check could; other companies checking your credit file to make credit decisions won’t see this ‘soft’ check we’ve run. We’re not running a credit check in order to make a credit decision, rather, we’re running it for identity and verification purposes. Every ‘hard’ credit check you go through is fully visible on your credit file, and other companies performing searches on your file will see these; generally it’s advised not to have too many ‘hard’ searches on your file in a short space of time, as lenders can view this negatively.

I can say that in my yearly account change (switching from secondary accounts that have no active benefits, opening ones that do) it’s never dipped my credit score - but I wouldn’t say I’m an authority as I have never been through a mortgage process.