MSE News: RBS and Natwest customers in Santander switch alert

System

carrieh wrote: »

I opened two new accounts with RBS Glasgow, shortly after I received the letter explaining the proposed transfer of my accounts to Santander last year. It was easy. I did it all online through my RBS online banking. I then asked RBS to change all my direct debits to one of the new accounts in Glasgow.

I did however keep one original account open at my RBS in Cheshire and left it lying dormant in case anything went wrong. With this account I asked via the transfer form to transfer it to Glasgow. This account has been transferred to RBS Glasgow now too.

I now have 3 accounts at RBS Glasgow, so will close one.

Everything very smoothly, no problems at all, and I'm free of Santander! :T

Frankly however I think it's appalling that our bank accounts can be sold in this way. Still, that's the world we live in I suppose.

It's okay doing it that way if you want more accounts, but credit searches will have been done on you for the new current accounts you opened yourself which will effect your credit rating. Your account history will have been transfered to the new account that was created using the RBS transfer form, which is an important point so at least that is good. DO NOT CLOSE THE ACCOUNT THAT HAS RETAINED YOUR HISTORY

Anyone who has not used the transfer form and has done the whole transfer manually may not have the benefit of this history being retained.

chambta

BAA1 wrote: »

It's okay doing it that way if you want more accounts, but credit searches will have been done on you for the new current accounts you opened yourself which will effect your credit rating. Your account history will have been transfered to the new account that was created using the RBS transfer form, which is an important point so at least that is good. DO NOT CLOSE THE ACCOUNT THAT HAS RETAINED YOUR HISTORY

Anyone who has not used the transfer form and has done the whole transfer manually may not have the benefit of this history being retained.

You make an interesting point re 'your history', though in many cases additional current account are not credit scored for existing customers.

It certainly does seem to be case that closing the previously 'main' account does negatively affect your internal assessment which I didn't expect before doing it.

Being able to keep an eye on its 'recovery' it actually took the best part of a year for things to return to what they were previously.

carrieh

BAA1 wrote: »

It's okay doing it that way if you want more accounts, but credit searches will have been done on you for the new current accounts you opened yourself which will effect your credit rating. Your account history will have been transfered to the new account that was created using the RBS transfer form, which is an important point so at least that is good. DO NOT CLOSE THE ACCOUNT THAT HAS RETAINED YOUR HISTORY

Anyone who has not used the transfer form and has done the whole transfer manually may not have the benefit of this history being retained.

Good point, although I did it that way to avoid being caught up in the internal transfer of thousands of accounts at the same time. I had the most horrific experience when Santander took over Alliance & Leicester and locked me out of my own money for 2 months or more. I wasn't about to take the risk that any account of mine slipped through the net into Santander's hands! Hence I did it swiftly myself a year ago and I have to say it doesn't seem to have affected my credit rating in any way at all. I've had no problems since then.

But I take your point about keeping my account history, so will leave open the transferred account. Thanks! I have banked with RBS (previously Williams & Glyns) for 30 years, and wanted to remain with them.

[Deleted User]

yep my RBS account was moved to its Head Office branch

cing0

Anyone with experiences of internal transfer (account switch) within RBS have knowledge of what happens...

to the money in the old current and savings accounts ?
to your internet banking login

pmduk

cing0 wrote: »

Anyone with experiences of internal transfer (account switch) within RBS have knowledge of what happens...

to the money in the old current and savings accounts ?
to your internet banking login

My experience as a customer whose accounts have already been transferred is that one day my account appeared online showing a new sort code and account number. All transaction history and contents were unaffected. I continue to use existing cards until they're replaced. The online codes have all remained unchanged.

easy

Now, here is a question. If we all go off to the scottish branches, and then in the future Scotland gains independence from the UK, how would we go on holding 'foreign' bank accounts ??

Lith

My RBS account still has an English sort code... even tho i did the branch transfer form several WEEKS ago,

is there a certain time limit etc for when they change to 80 sort codes >?

DJ1UK

A few questions on the branch transfer process.. I am going to fill in a form to transfer my RBS account from England to Scotland.

I understand they will transfer DDs, but am I correct that I will have to notify people paying in (employer etc) of my bank account change?
If they transfer DDs over but my employer isn't too quick in changing paying in details.. will the money still go to the new account automatically even if paid to old account/sort code?
Also, will existing manual payments that exist on online banking (to be paid in the future), remain as is and be paid out of the new account?

Thanks, DJ.

pmduk

I tried a payment into my old account details and it appeared instantly in the new account. However, I suspect you'd be best checking on payees after a few weeks to check there's been no hiccups.