Bank entitled to ask for joint account statements in assessing loan application

Lending restrictions,
In September 2021, Rosemarie asked the bank for a loan to consolidate her various debts into a single loan. As part of the loan application, the bank requested copies of bank statements for a joint account Rosemarie held with her partner. Rosemarie declined to provide the statements, saying she was applying for a loan in her own name, not a joint loan with her partner. A week later, the bank declined her application.
May 2023

Rosemarie complained that it was inappropriate for the bank to ask for copies of her partner's bank statements.

Our investigation

In assessing a loan application, a bank is required to assess whether a prospective borrower can repay a loan without suffering any undue hardship. As part of this assessment, the bank must make reasonable inquiries into the customer's income and expenses. This will normally involve collecting bank statements as evidence of the applicant’s financial position.

Rosemarie’s housing, transport and utilities payments came from her joint account, so the bank needed to review the joint account statements to assess her expenses. The bank could not approve Rosemarie's loan application without evidence of her outgoings – including expenses paid from her joint account. We therefore found it was reasonable for the bank to request copies of her joint statements.


We did not uphold Rosemarie’s complaint.

Print this page