Fear of switching current account provider!!

jamesd

Just let FD do it and keep the original account open. Easy enough to switch back if you find you don't like FD or if you want to take a customer only offer for something like a mortgage or savings account deal from the old account.

BandJB

PC1984 wrote: »

Paul_Herring posted a reply which suggested that I should switch direct debits etc manually myself - is there a reason for this? I know that with First Direct, they do it all for you (and it think that you have to allow this in order to receive the £100 incentive).

Im now wondering if there is a negative implication to letting FD do the swap over for me?

The changeover depends on (a) your bank sending FD the correct information, and (b) FD then correctly notifying the holders of the DDr authorisations, and (c) the holders making the changes in a timely fashion.

When I changed from Natwest to A&L there was a similar 'Let us do the switch' condition but I just asked them if I could manage it myself and they agreed. Good job I did! Natwest supplied a rubbish list of DDr authorities: some long-dead ones and missing some current ones. Took me two days to sort the wheat from the chaff and I shudder to think what would have happened if A&L had just actioned what Natwest had told them.
Also, part of the switchover service is normally for the new bank to tell the old bank to close the account and, as jamesd has suggested, you might want to keep the old account for a while and only close it when you're good and ready.

It's really easy, honest, so go ahead - vote with your feet.

Fairzo

Have recently changed from "Satan"der to First Direct. Had a few issues with the Direct Debits not transferring properly but not FDs fault. Easy enough to sort out yourself. Phone service is excellent.

The £100 is a good incentive to change but I would question whether the hassle of changing again is worth another £100 after a year. Just my opinion though.

jamesd

BandJB, when I did that A&L sent me NatWest's list and I could select which ones to transfer. Then they moved only the ones I selected.

I didn't plan to fully transfer and I'm glad I didn't because the banking basic services from A&L are generally poor compared to NatWest. Things like worse online banking at A&L, statements around online for nine months instead of six years, £250 (if lucky) compared to full £10,000 support for faster payments.

BandJB

jamesd wrote: »

BandJB, when I did that A&L sent me NatWest's list and I could select which ones to transfer. Then they moved only the ones I selected.

That's fine, but part of my problem was that NatWest didn't have some of my current DDRs on the list, so I couldn't have selected them! Luckily, I'm quite meticulous (anal, according to my kids) and I spotted the omissions. Many people are too busy/lax to have my approach (disability?) and it's easy to forget things like annual insurance premiums, infrequently used credit cards and the like. I raised the example as a warning that, despite their multi-million pound computer systems, banks can't be trusted to prepare a simple list.

jamesd wrote: »

...the banking basic services from A&L are generally poor compared to NatWest.

That all depends on what you need from your bank and, possibly, subjective opinions on web site presentation. A&L does everything I need and their online system has never been down in the three years I've been with them. (And I check my accounts every day, including weekends. Told you I was 'meticulous'!) They also have a great facility of accessing large'ish amounts of cash via the local Post Office, which is excellent for us because we live in the country. I've never even set foot in an A&L branch - the nearest one is 40 minutes drive away - but I've withdrawn £2,000 in cash via the Post Office 3 miles down the road, and I pay in any cheques I receive there as well.

One thing I hated about NatWest online banking was the need to use their electronic verification gizmo whenever I made an unscheduled payment to anyone. I normally do my banking in the dead of night or very early in the morning and I just couldn't read the damned thing under artificial light. As far as statements are concerned I have my own files, downloaded directly from A&L onto my PC monthly and (you've guessed it!) backed up in multiple locations. I don't depend on the bank to do it for me: the tax man might want up to 7 years of records, and no bank keeps that much accessible as far as I know.

Horses for Courses, as they say.

jamesd

Having checked, I can currently access online statements back to 2 May 2003, so seven years back at NatWest, though not quite back to the start of that tax year.

For you it seems that the cash facility at the Post Office is ample reason for wanting an A&L account. I would as well, though probably not as my only account.

We're both pretty meticulous, it seems.