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Can UK debts be seen in Irish CCR file?

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  • 29-11-2023 4:28am
    #1
    Peshy101
    Registered Users Posts: 11 ✭


    Hello,

    Once I inform my UK banks of my new address in Ireland, do you know if my debts will appear in my Irish CCR (Central Credit Register) file?

    Reason for asking is that I’m still 5-6 months away from clearing my UK credit card debts but I’m worried they’ll somehow appear in my CCR file here.

    I know UK banks don’t report into the Irish CCR but I wonder if there’s some back door way such as the Irish subsidiary of a UK bank reporting it

    Thanks.



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    #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,047 Mod ✭✭✭✭Jim2007


    It does not work like that. As a general rule UK banks are not authorised to offer financial services to residents of the EU/EEA/CH. So a couple of different things could happen when you report your change of address the UK banks:

    The bank might be authorised to offer services within the EU/EEA/CH and will immediately start applying with the EU banking regulations including CCR reporting.

    The bank may have a subsidiary authorised to offer services in the EU from somewhere within the EU/EEA/CH and your accounts are transferred to the entity. In which case your debts would be reported to the CCR entity in that state and as a result be available to Irish financial institutions.

    The bank might simply shrugged it shoulders and continue on as if nothing out of the ordinary had happened.

    I have seen banks do all three, so it is very hard to give you a definite answer one way or the other.

    That said, if you are looking for a serious line of credit from an Irish bank, you can expect they will want to see a report from the UK or any other third country you resided in.



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