Frequently Asked Questions
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Is a credit check required while opening an account?
Truly Financial does not perform a credit check when opening an account for your business and your credit score will not be affected.
We sometimes perform a “soft” credit check that verifies your details. A soft credit check is used by financial institutions to verify the identity of individuals and never impacts the credit score.
You can read more about the difference between soft inquiries (which do not affect your credit score) and hard credit checks (which will impact your credit score) in several reputed articles including this by The Balance.