How long after moving should I wait before switching banks

cheesemp

Having recently recieved details of LloydsTSBs new overdraft charging I have decided I need to leave. I use my authorised overdraft too often to be hit by a £5 each time I use it. So I've decided to leave (possibly First Direct - the free £250 Overdraft should suit me).

The problem is I have only just moved house (I've ported a nationwide mortgage) - How long ideally should I wait before moving banks - I'm thinking 6 months but just wondered what others would recommend?

Thanks

onlypaddy

You need to get on the Electoral register at your new address asap, and update your address with all comapnies (otherwise a discrepancy will show on your report).

It will take a couple of months for the council to update registries and a few months more (anything up to 6) to update that to the CRA's. I reckon wait around 9 months, or check to see when your electoral roll data has been updated.

cheesemp

Thanks thats just the info I was looking for. Looks like I won't make the shift before the new charges start in December but I'm still going to move if only out of protest!