Scary email from paypal

Ingela

Im in the process of switching bank accounts from natwest to lloydstsb, and lloyds are switching my DDs, but i have told them not to close the account as i will still have a small amount owning on the account, which should be paid off shortly.

Paypal have just sent me an email saying that their bank mandate was returned giving the reason as 'the bank account is closed'

i can still log into natwest internet banking, and as i havent moved my full overdraft yet, still owe approx £1400.

Help! does this mean the account is actually closed? whats happening??

rayday2

I think you need to ring your banks to double check what has happened - Paypal are not the most reliable of information sources!

Good luck I would ring the company you are switching to rather than the one you are leaving.

postingalwaysposting

i agree with rayday, and also with natwest if you start to close the account they will not authorise card transctions and direct debits, this would be the method paypal use, phone the bank to be sure

nickelodeon

I've received the same email and I'm also in the process of transferring accounts and using the new banks switching service. I know my bank account is not closed as I'm still using it so the email is obviously wrong, what I think has happened is that they have cancelled the paypal dd with my old bank and will set up a new one with my new bank.

Ingela

Thanks all, thats great. Was a bit worried that lloyds are trying to close the natwest account, but hopefully that's not the case!