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  • FIRST POST
    • jeanniej
    • By jeanniej 11th Sep 17, 11:24 PM
    • 29Posts
    • 1Thanks
    jeanniej
    Switching Bank Accounts
    • #1
    • 11th Sep 17, 11:24 PM
    Switching Bank Accounts 11th Sep 17 at 11:24 PM
    Looking to switch current accounts and the new bank have told me they will re-direct payments going into the new account and inform anyone making these payments of the new account details (presumably including DWP) if so am I still obliged to inform the DWP?
Page 1
    • _shel
    • By _shel 12th Sep 17, 7:38 AM
    • 1,080 Posts
    • 1,839 Thanks
    _shel
    • #2
    • 12th Sep 17, 7:38 AM
    • #2
    • 12th Sep 17, 7:38 AM
    Looking to switch current accounts and the new bank have told me they will re-direct payments going into the new account and inform anyone making these payments of the new account details (presumably including DWP) if so am I still obliged to inform the DWP?
    Originally posted by jeanniej
    Yes inform them anyway or you may end up with stray payments trying to go into the old account.
    Tell everyone who pays money in and all your direct debits
    Thanks to everyone who posts competitions
    • TELLIT01
    • By TELLIT01 12th Sep 17, 7:58 AM
    • 4,115 Posts
    • 4,242 Thanks
    TELLIT01
    • #3
    • 12th Sep 17, 7:58 AM
    • #3
    • 12th Sep 17, 7:58 AM
    I don't know what method the bank would use to inform DWP, but any change would require manual intervention by DWP and may not happen quickly. DWP states that it is the customer's responsibility to inform them of any change of circumstances, so don't leave it to anybody else.
    • bspm
    • By bspm 12th Sep 17, 8:26 AM
    • 439 Posts
    • 678 Thanks
    bspm
    • #4
    • 12th Sep 17, 8:26 AM
    • #4
    • 12th Sep 17, 8:26 AM
    Looking to switch current accounts and the new bank have told me they will re-direct payments going into the new account and inform anyone making these payments of the new account details (presumably including DWP) if so am I still obliged to inform the DWP?
    Originally posted by jeanniej
    Can only speak from my experiences last year.

    I switched banks three times(cash incentives from banks etc) and never told anyone who paid in to my account (including the DWP) neither did I inform any of my payees that I was changing banks, I never had any problems and each time the new bank did it all.

    It is very easy to switch banks nowadays, not like years ago, but, if it puts your mind at rest, inform the DWP when the switch has been made, if the DWP happen to pay in to your old (closed) bank account it will automatically be transferred to your new one
    • takman
    • By takman 12th Sep 17, 8:38 AM
    • 2,825 Posts
    • 2,359 Thanks
    takman
    • #5
    • 12th Sep 17, 8:38 AM
    • #5
    • 12th Sep 17, 8:38 AM
    Can only speak from my experiences last year.

    I switched banks three times(cash incentives from banks etc) and never told anyone who paid in to my account (including the DWP) neither did I inform any of my payees that I was changing banks, I never had any problems and each time the new bank did it all.

    It is very easy to switch banks nowadays, not like years ago, but, if it puts your mind at rest, inform the DWP when the switch has been made, if the DWP happen to pay in to your old (closed) bank account it will automatically be transferred to your new one
    Originally posted by bspm
    Don't forget the bank will only redirect payments for 3 years from the date of the first switch you did last year.

    So if the organisation's paying into your account never update your details then 3 years from that date you could suddenly stop receiving any payments.
    • bspm
    • By bspm 12th Sep 17, 8:40 AM
    • 439 Posts
    • 678 Thanks
    bspm
    • #6
    • 12th Sep 17, 8:40 AM
    • #6
    • 12th Sep 17, 8:40 AM
    Don't forget the bank will only redirect payments for 3 years from the date of the first switch you did last year.

    So if the organisation's paying into your account never update your details then 3 years from that date you could suddenly stop receiving any payments.
    Originally posted by takman

    Which is why I said inform the DWP when the switch has been made..........
    • takman
    • By takman 12th Sep 17, 9:37 AM
    • 2,825 Posts
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    takman
    • #7
    • 12th Sep 17, 9:37 AM
    • #7
    • 12th Sep 17, 9:37 AM
    Which is why I said inform the DWP when the switch has been made..........
    Originally posted by bspm
    Yes I know but you said you have never told anyone who pays into your bank so I was making you aware that you may suddenly stop receiving payments.
    • bspm
    • By bspm 12th Sep 17, 9:50 AM
    • 439 Posts
    • 678 Thanks
    bspm
    • #8
    • 12th Sep 17, 9:50 AM
    • #8
    • 12th Sep 17, 9:50 AM
    Yes I know but you said you have never told anyone who pays into your bank so I was making you aware that you may suddenly stop receiving payments.
    Originally posted by takman

    Understood

    I have already done that but I was answering the poster to put their mind at rest. Just didn't see the need to confuse switching of banks by the poster by having to notify any Companies paying into her account until the switch had actually been done, after all they may not even have the new bank account details yet to notify anyone.

    Any payments in to the old account, as you say, will automatically be forwarded to the new bank account for a few years, so plenty of time to tell them later on.

    Keep it simple, it pays!

    • Avocadotoast
    • By Avocadotoast 12th Sep 17, 12:47 PM
    • 34 Posts
    • 12 Thanks
    Avocadotoast
    • #9
    • 12th Sep 17, 12:47 PM
    • #9
    • 12th Sep 17, 12:47 PM
    Hi OP, all sound advice here. In my circumstances - similar to yours - I called PIP and ESA at 8am (no queues really) and spent a few mins on each call changing my details. It takes no time at all and it safeguards you just in case things might go wrong. Belt and braces. It can be worth it. I've had no issues since. Just make sure you phone up over a week before your next payment is due otherwise it can bounce back and you may have to chase.
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