Experian FAQ’s

As part of our application process, we require you to share transaction data from all of your eligible bank accounts via Open Banking. Having this data gives us a clear overview of your financial situation so we can make an accurate assessment of the affordability of the loan.

What is the Affordability Passport?

We ask all applicants to provide their digital bank statements for all active current accounts via Experian’s Affordability Passport. This gives us a read only breakdown of your income and costs so that we can make sure our loan is affordable.

How does the Affordability Passport work?

  1. After you have submitted your application, you will be automatically taken across to Experian’s Affordability Passport. If you run into any issues, you can contact us to get a new link.
  2. When prompted, connect all current accounts held in your name, including any joint accounts.
  3. Your Digital Bank Statements are securely sent to Norwich Trust, and one of our team will then review the data before contacting you to finalise your application.

Experian FAQ's

Your digital bank statements will show us who your accounts are held with, and what payments and transfers go in and out of those accounts. 

So that we can assess if any loan we offer you is affordable.

Yes, you will need to be registered for Online Banking to provide your digital bank statements, but you can complete the process on a mobile phone, tablet or computer. 

Yes, the Affordability Passport has been designed with your safety and security in mind.

  • All companies working with The Affordability Passport must be regulated by the FCA (or European equivalent)
  • You can choose how long businesses have access to your data and can withdraw your consent at any time.
  • Only your transactions are shared – companies will not be able to see your pin, passwords or other private data linked to your bank account

Yes, we do require all applicants to provide digital bank statements as part of the application process. If you are not happy to do this we will not be able to complete the application.

Yes, providing digital bank statements is entirely free. Neither Experian nor Norwich Trust will charge you for using this service

There are a limited number of banks that aren’t currently compatible:

These are:

  • Cumberland Building Society
  • Metro Bank
  • Think Money

If your main account is held with one of these banks, we will not be able to accept your application. 

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