Abbey £100 for switching

YorkshireBoy

aqueoushumour01 wrote: »

does abbey match the overdraft you have at another bank?

Answered (to a degree*) in post #3, and in the offer T&C's on the Abbey website.


* I think you'll find they will 'consider' it. No guarantees.

aqueoushumour01

YorkshireBoy wrote: »

Answered (to a degree*) in post #3, and in the offer T&C's on the Abbey website.


* I think you'll find they will 'consider' it. No guarantees.

ok, that probably means no then I'll try to get to a branch on monday and find out

sabretoothtigger

upto 5k it says


I take it first payment does not need to be made by the 14th just the ac needs to be opened by then

More2LifeThanMoneyWorries

hi,

i need to move bank, at moment i live in my overdraft and would most likely apply for the 12 month 0% for the 1st year option. ( not to fused about the £100 cashback )

i have never switched banks before, can someone clarify if you get accepted and they match your overdraft that them funds will be available before the DD's come out???? do they inform the companies you have DD's with and tell them???

really confused but need to do this, any help appreciated!!!!

bristolleedsfan

More2LifeThanMoneyWorries wrote: »

hi,

i have never switched banks before, can someone clarify if you get accepted and they match your overdraft that them funds will be available before the DD's come out???? do they inform the companies you have DD's with and tell them???

really confused but need to do this, any help appreciated!!!!

Overdraft facility is available as soon as the application is accepted.

If you use switching service the new current account provider will get a list of all your Direct Debits and standing orders from your existing provider, the payees will then be notified of your new account details.

ragingbass

masonic wrote: »

You might be interested to know that when I applied for my egg money credit card, I didn't need to sign anything. In fact, the agreement ended with the following:-

Thanks masonic, that is interesting. I know in other regulated industries they take a quite different approach to replacing paper with electronic signatures. Often software systems will be required to ensure every user's electronic signature is unique in order to ensure the authenticity of who is signing for a particular electronic record.

But from the looks of it, the finance regulators aren't as strict on this.

masonic

ragingbass wrote: »

Thanks masonic, that is interesting. I know in other regulated industries they take a quite different approach to replacing paper with electronic signatures. Often software systems will be required to ensure every user's electronic signature is unique in order to ensure the authenticity of who is signing for a particular electronic record.

But from the looks of it, the finance regulators aren't as strict on this.

Ticking a box certainly doesn't constitute a system of electronic signatures. It really doesn't replace a signed document, but shows that a customer's signature is not required for an organisation to enforce the terms of an agreement it has with that customer. Other examples of contracts I've entered into without ever having signed a document include a mobile phone contract, home insurance and gas/electricity supply. From my experience, the only industries where contracts are always physically signed by customers are industries where there is no convenience in moving away from such a system (e.g. business is not conducted online/by telephone).

ShelfStacker_3

HSBC and Barclaycard use this system as well. I personally like it, as it speeds things up for people while not depriving them of the opportunity to read the necessary bumph. People rarely, if ever, read their T&Cs anyway - they won't read them whether they're online or on paper.

kanchhelskis

i got this account all set up think i got a 300 pound overdraft i never asked for though.

they tryed contacting my old bank for a list of dd and standing orders, but lloyds tsb has not given them to abbey.

now abbey are askin me to contact lloyds/tsb to get the list.

this is surely abbeys job not mine.

am i right or wrong?

thanks in advance.

jlanky81

i got this account all set up think i got a 300 pound overdraft i never asked for though.

they tryed contacting my old bank for a list of dd and standing orders, but lloyds tsb has not given them to abbey.

now abbey are askin me to contact lloyds/tsb to get the list.

this is surely abbeys job not mine.

am i right or wrong?

thanks in advance.

The Banking Code, to which all the major banks subscribe, states that, if you want to move your current account to another bank, your existing bank must supply details of standing orders and direct debits within three working days of receiving a request. Your existing account must be closed without unnecessary delay when you ask the bank to do so. You cannot be charged for either closing or switching a current account, except where charges have already been agreed.

Lloyds TSB therefore have to provide Abbey with the information about your Direct Debits / Standing Orders to adhere to the Banking Code.