is this legal

ooobedoo

I am moving my bank account from RBS due to massive levels of incompetance and a few other reasons.

I am moving to the Halifax and they are doing their transfer of Direct Debits, they have been unable to complete one. I have a RBS loan and they insist that it has to be paid from a RBS account but I want to close it...is this legal? I want to set up a standing order or direct debit but they won't hear

CLAPTON

yes, it's quite a common condition and it's probably part of the contract that you agreed to

CHR15

Set up a Standing Order from your new Halifax account into your old RBS account for the repayment amount and ignore the RBS one.

R0bert_Sterling

The problem is that there are lots of people who tire of paying back their loans. The repayments are taking too much of their income away.

The advice (on this site) is to close down your current account and move it away from the bank who you took the loan out with.

If you carry on banking with them and stop payments, they can take the loan payments from your other accounts.

If you close and move away, the bank will struggle to recoup their money if the payments stop.

I expect they won't let you close it until the loan has been repaid so they have some control if you stop making the repayments.

Not suggesting it is your motive of course.