Direct Debits

SillySo

Hi - I'm new to this and need some help.

I am setting up a DMP and have opened a basic bank account with the Halifax but they cannot offer me a switching service. How do I go about switching my current direct debits to my new account?

Would appreciate any advice you can give.

saltnvinegar

SillySo wrote: »

Hi - I'm new to this and need some help.

I am setting up a DMP and have opened a basic bank account with the Halifax but they cannot offer me a switching service. How do I go about switching my current direct debits to my new account?

Would appreciate any advice you can give.

Hi SillySo

What are the DD's for?

If they are for your creditors then I would not be paying them by DD at all, but you should be setting up a standing order.

The reason for this is you stay in control of when, and more important, how much is taken.

Use DD and the company can make changes at will and only have to give you 14 days notice.

Its a simple process, just inform everyone that you want to move everything over to standing order and you need their bank details.

You then cancel the DD's at your old bank and complete a standing order mandate at your new bank. If you have online banking you can even do this online.

Best

SnV

SillySo

Thanks for the reply. The Direct Debits are for paying my mortgage and bills not my debts. I was told I couldn't set up a Standing Order for these - they had to be direct debits. Normally this is done by a switching service but the bank don't offer this for a basic bank account.

CH27

Ring the companies involved & tell them you are changing accounts & they should be able to change the details over the phone.

Make sure you cancel all the direct debits on your old account.