New account

dc1000

I am wanting to leave my current bank, been with them for about 30 year, how hard is it to change over to a new bank, and to get all direct debits changed to my new account, do you give your current bank your new account number and they do it for you, or do you give your new bank the details. Also do you actually close the old account. Thanks:)

YorkshireBoy

The new bank will switch all your regular outgoings (DDs and SOs) and set up any bill payments you already have. However, these things can and do go wrong! That's why I'd never use a switching service for key DDs such as mortgage, credit cards, loans, HP, etc.

You will be responsible for re-directing your salary/pension, but sometimes the new bank give you a letter to give your payroll department.

Some banks (NatWest did with me) will close your old account as part of the process, but you should think long and hard about whether to close the old account as a 30 year relationship with your current account provider is a major plus point (shows some stability) when being credit scored for other products.

dc1000

Will i have to give them a list of the DDs and SOs or will they request it from my old bank.

societys_child

The switching team at the new bank do it all for you. they get the info from your old bank when you've completed their form. You can keep the old account open and leave the existing balance if you wish.

dc1000

That will do for me the easier the better... LOL