7-day bank account switching - how has it been for you?

Former_MSE_Sally

Hi folks

We're after some feedback on your experience of the new seven working days bank account switching service. Have you done it? Did it all go smoothly?

Tell us a little about how it went for you, where you switched from and to, and how long the process took.

And if you're looking at this and feeling inspired to switch, see our Best Bank Accounts article for the top deals.

Thank you

sar050680

Switched from Lloyds to First Direct this month, have to say although I was a little worried that Direct Debits would be missed or payments would not go in I am really happy and all my expecations have been met.

I asked for the switch to be on the 14th of October, that went well, then yesterday I recieved the £125 bonus from FD. :money:

10/10 for FD from me.:)

jimjames

It can only be better than the previous system.

I switched from First Direct to Halifax in May and it has taken till this month to sort out the mess with DDs that it created.

catz77

We tried to switch to N&P and after a fair bit of tooing and froing they told us they were not part of the seven-day switching and as for our direct debits we'd have supply them with a list and they'd post forms to us to fill out. Queried this twice and got the same answer. So no go for us. Pity the newspapers have never mentioned this opting out clause or are N&P talking rubbish?

catz77

Phoned N&P national switching team and they confirm they are NOT part of the 7-day switching, switching can take between 4 and 6 weeks etc!

Archi_Bald

You can check which banks and building societies are part of the scheme: http://www.simplerworld.co.uk/Pages/Banks.aspx. Though if N&P say they aren't part of it, I reckon they'd know.

You can do your own switch - - dead easy to change DDs and SOs, and moving your money by faster payment. I reckon you can do it yourself much faster than a week.

JuicyJesus

catz77 wrote: »

We tried to switch to N&P and after a fair bit of tooing and froing they told us they were not part of the seven-day switching and as for our direct debits we'd have supply them with a list and they'd post forms to us to fill out. Queried this twice and got the same answer. So no go for us. Pity the newspapers have never mentioned this opting out clause or are N&P talking rubbish?

It is not a regulatory requirement for banks to be in the CASS scheme, it's strictly voluntary. I'd imagine the hope is that potential customers vote with their feet and go with the organisation it's less of a pain in the !!!! to join.

pmduk

Archi_Bald wrote: »

Though if N&P say they aren't part of it, I reckon they'd know.

You're more trusting of Banks and Building Societies customer than I am. Although I agree with your comments about transferring accounts yourself.

sulphate

Bit of a headache for us.

Switched our joint account from Natwest to Lloyds recently. Supposed to happen on 7 Oct. 2 days into process were told it failed cos (no fault of ours) my husband's DOB was wrong on one of the accounts. He went in the next day and took in documents (again) to prove his DOB, we were told the switch would be started up again. After 5 days hadn't heard anything so called switching team to be told they knew nothing about a new switch request. Went back into branch and switch request went through this time, my husband's docs had just sat on someone's desk for several days.

It eventually switched on 11 Oct and we were told that all the direct debits would go through no problem. Last week we got a call from TalkTalk to say they hadn't received payment. Turns out direct debits have to be set up for 3+ days before they become active, and this one was set to go on 12 Oct.

Good thing our mortgage payment isn't until 28 Oct. :eek:

Fruit_and_Nut_Case

I haven't used it and probably won't. I don't like the idea of the forced closure of the old account.

apesxx

Currently in the process of switching one of my accounts from Barclays to Halifax x will let you know how it's gone after my switch date of the 24th x