Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • KKcat
    • By KKcat 5th Jan 18, 3:41 PM
    • 1Posts
    • 0Thanks
    KKcat
    Possible to switch bank account if you have a loan
    • #1
    • 5th Jan 18, 3:41 PM
    Possible to switch bank account if you have a loan 5th Jan 18 at 3:41 PM
    Hello,
    I have a small loan of £1,500 with NatWest for 15 months but would like to swap to HSBC. Is it possible to switch bank account if I have a personal loan?

    Thank you.
Page 1
    • Edi81
    • By Edi81 7th Jan 18, 7:01 AM
    • 358 Posts
    • 231 Thanks
    Edi81
    • #2
    • 7th Jan 18, 7:01 AM
    • #2
    • 7th Jan 18, 7:01 AM
    Yes. They are totally separate products.
    • binaryuniverse
    • By binaryuniverse 7th Jan 18, 8:49 AM
    • 535 Posts
    • 304 Thanks
    binaryuniverse
    • #3
    • 7th Jan 18, 8:49 AM
    • #3
    • 7th Jan 18, 8:49 AM
    As long as the loan isn't linked to the current account, with some offer, in some way (such as you get a lower APR for being a current account holder), and that you should remain a holder for the duration, to retain that offer, it should be fine.

    As always, check the T&Cs of your loan agreement.
    • YorkshireBoy
    • By YorkshireBoy 7th Jan 18, 3:02 PM
    • 29,693 Posts
    • 17,647 Thanks
    YorkshireBoy
    • #4
    • 7th Jan 18, 3:02 PM
    • #4
    • 7th Jan 18, 3:02 PM
    How are you paying the loan? If via direct debit then you should be OK.

    However if the payment is via 'direct transfer', ie its an internal collection at Natwest, then this might not necessarily be transferred via the CASS.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,671Posts Today

11,325Users online

Martin's Twitter
  • Hi folks. I'm drowning in questions and can't get to them all. So I'm going to prepare key links which should put? https://t.co/JjGl2DlqBp

  • Depends on the ex-wife's credit score. You acan apply to 'disassociate' if you are truly no longer financially lin? https://t.co/1YBdwA9MBE

  • Annoying barring mortgage most affordability calcs are based more on income and debt rather than your actual person? https://t.co/MbyirMydbx

  • Follow Martin