Standing Order problems

innovate

Interestingly, the banking industry acknowledges that the current switching services aren't satisfactory, and there's work in progress for a new, industry-wide process, to be available sometime in 2013.

A quick glance at what's in store suggests this will be great if you want to move your account completely, and to close the old account. This might work for some people, but I reckon a lot of people would not want to have their old account closed, and would therefore do the switching themselves.

There's very good reason these days to have more than one current account - not only to have a backup in the case of Natwest-like disasters, but also to exploit offers that depend on a current account (Nationwide ISA, Lloyds Vantage, Santander cashback, First Direct and HSBC Regular Savers spring to mind).

penny_pincha

penny_pincha wrote: »

I thought it strange that other Standing Orders had been cancelled in Nat West (old bank) and this one hadn't.

It evidently isn't a perfect system.