I don't know about Fold, but I've had an attempt to open a bank account declined in the UK without an explanation. (Presumably based on the data I provided in the form about my finances and intended use of the account). A year later I tried again and they declined it right after I gave them my phone number, before I even gave them my name.

Then someone told me I could request for my personal data to be deleted, as per some GDPR law, and then try again. It had worked for them. I've requested it and been told my data has been deleted. Haven't tried opening an account again with them yet as I no longer need it.

It may not work in the US though if there is no 'right to be forgotten' there. (Which is really an entitlement and not a right).