In the US, consumers can freeze their credit worthiness records and receive a code. When the records are frozen, the only orgs that can access the records are those already doing business with the consumer. If a consumer wants to open up a new account, they share the code with the prospective creditor who uses it to see the credit report.
So the question is, how are access controls on credit histories done in various EU nations? Do any use unlock codes like the US, or is it all trust based?
the phone shop must arrange that with a bank and does not have the option of taking on risk
That’s correct, any and all loans go through a bank. But please note that the bank won’t advise if it’s a bad loan, for example a ridiculously overpriced phone and/or phone plan. They just check if you can afford the monthly payment.
I heard SWIFT/IBAN transfers were permanent
These were card payments not transfers. Any payment done with a card, whether online or at a POS machine, can be reversed. And yes it was done for free in both cases.
