Just switched to Halifax

SpeedyBoots

Hey folks,

I've had a basic Barclays bank account for a while now and I noticed an offer with Halifax, whereby you switch to them and providing your income, ingoings and outgoings go into this new account, you get £100. Has anyone on here just done this?

In all honesty I didn't expect to be accepted with a poor credit rating but in the post this morning was my new Halifax card. I went for the Ultimate Reward Account which gives you various extras including breakdown cover, insurance (home, mobile and travel) for £10 or £15 a month.

I have the following questions and I was wandering if anyone could answer any?

• With me providing my previous (Barclays) account details, will my direct debits be switched for me?
• Do I need to tell my employer my new account details for my wages to be paid in?
• Does my Barclays account get closed down automatically? (if so, what about the money in that account?)
• Will I get the details through, PIN, various extras (insurance) details through soon?
• When does the £100 get credited?

Hope you can help.

Archi_Bald

Some answers:

SpeedyBoots wrote: »

With me providing my previous (Barclays) account details, will my direct debits be switched for me?

Not unless you have instructed Halifax to make the switch. I presume you have seen this: http://www.halifax.co.uk/bankaccounts/switch-to-halifax/

SpeedyBoots wrote: »

Do I need to tell my employer my new account details for my wages to be paid in?

In theory, if you have instructed Halifax to switch your account, they will do this. But it would do no harm if you gave your employer your new sort code and account number.

SpeedyBoots wrote: »

Does my Barclays account get closed down automatically? (if so, what about the money in that account?)

If you have instructed Halifax, since September 16 2013, to switch your account they will ask Barclays to close your account and transfer your balance.

SpeedyBoots wrote: »

Will I get the details through, PIN, various extras (insurance) details through soon?

You need to ask Halifax.

SpeedyBoots wrote: »

When does the £100 get credited?

You need to ask Halifax.

The major question appears to be whether Halifax have been instructed by you to switch your account.

SpeedyBoots

Thankyou very much for that I will pop in and see them tomorrow. I do remember providing all my Barclays details on the application to be fair.

SpeedyBoots

Little bit gutted. I had got my credit score and rating from poor to good but since opening this account it has gone back to poor as a result of this recent credit search? Now I do not understand as the account does not have an overdraft and is not a credit card, little bit sad about this as I thought it was going much better than it had been in recent years

Archi_Bald

I wouldn't worry about credit scores on a CRA file, they are often just meaningless numbers. What is important is that you don't have defaults etc on your file.

May be reading this will alley your fears: http://www.moneysavingexpert.com/loans/credit-rating-credit-score

SpeedyBoots

Thanks for the link. I have a few defaults on my file, one is a large amount with a payday loans company (which I am really trying to sort out despite their inability to recontact me with something apart from a generic email) and another one with a bank, which Is also in the process of being paid off.