Bank Account Switchin Service

MOPI

Hi I have decided to take the plunge and switch my current account from Halifax to Santander.

One thing I dont quite understand is - what happens to the money in my Halifax current account, does it get transferred along with the direct debits etc?

Thanks in advance!

scott_lithgows

Dont worry if you dont understand it,Santander dont have a clue either.

Eco_Miser

MOPI wrote: »

what happens to the money in my Halifax current account, does it get transferred along with the direct debits etc?

No, it stays in the Halifax account until you either move it in the normal way, or close the Halifax account, when you specify where to send the balance. Santander will probably provide you with a letter to send to Halifax at the end of the switching process, to close the account, but you're not obliged to use it.

Edit: the above was based on my experience moving to Halifax. I have since opened a Lloyds TSB account and their switching service promises to move the balance in the old account, and close it. I don't know what Santander do.

MOPI

Ahhhhhhhhhh right,thats something I didn't think of. I just presumed the switching process would close the Halifax account.

Getting a bit worried now as I applied for the Santander account over 3/4 days ago but still no email!! Does say on their website that it can sometimes take up to 5 working days so will see if anything comes through on Monday.


Thanks again.

Consumerist

In my experience, the A&L switching went fairly smoothly. I swtched for the incentive payment but their customer disservice is rubbish. Now moving to Halifax.

A&L is better, financially speaking, however, if you use overdraft facilities. I don't.

MOPI

I hope all goes smoothly with my transfer!!!

I received the email today stating that the account will be opened.

Hopefully I wont have reason to contact their customer services. However if I do experience awful customer service I will up and leave in another 6/12 months.

Consumerist

It took about a month for the switching service to start but after after that there was only one DD hiccup (out of ten) which wasn't A&L's fault.

I would suggest that you check both accounts daily once the switching starts then you'll have no problems that you can't fix yoursef. Don't move any DDs or SOs yourself during the switching process unless the A&L attempt goes wrong.