Changing bank accounts

continualdiamond

Is this easy to do or not? I've been reading with interest how we hardly change banks and stay loyal, potentially loosing out on good deals.

I was wondering if its worth the hassle to change? We have a joint bank account with a OD limit of £3000, all our direct debts are with this account as well.

Is it hard to switch direct debts and change job details for earnings to go in?

jonewer

I'd also like to know about transferring DDs.

Also, does moving or setting up new accounts affect you credit rating in anyway?

reserved

continualdiamond wrote:

Is this easy to do or not? I've been reading with interest how we hardly change banks and stay loyal, potentially loosing out on good deals.

I was wondering if its worth the hassle to change? We have a joint bank account with a OD limit of £3000, all our direct debts are with this account as well.

Is it hard to switch direct debts and change job details for earnings to go in?

Yes it worth it if you go for an account with a reasonable rate of credit interest and it's no hassle.

The bank you are switching to will get a list of DD's from your existing bank which you check, and if they are ok just sign and the new bank will do all the work for you. Likewise they usually provide a form to give your employer with the new details so they can start creditting your new account.

Go for it!!!!