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

pinkdalek

sulphate wrote: »

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:

Talk Talk would be advised on day 2/3 of the switch, therefore giving them sufficient time to switch the account information. Sounds like incompetence from Talk Talk not following out instructions quickly enough.

It is frustrating for customers when a bank has the incorrect DOB, without applying for further products or contacting the bank and answering security details a consumer may never realise. Maybe banks should have a duty of care to let their customers know what data they have about them. For example each year a statement of accounts, with address, phone numbers, employment details, DOB, e-mail, nationalilty etc for the customer to confirm and if any amendments can then get in touch with their bank to amend.

(Awaiting the deathly replies from the Daily Mail readers and some conspiracy about post office workers intercepting mail......)

Archi_Bald

pinkdalek wrote: »

For example each year a statement of accounts, with address, phone numbers, employment details, DOB, e-mail, nationalilty etc for the customer to confirm and if any amendments can then get in touch with their bank to amend.

I don't think I would like to receive any letter listing all my personal details. It would be a fraudsters heaven to lay their hands on such letters, and letters do get lost in the post / stolen from communal letter box areas etc.

pinkdalek

Archi_Bald wrote: »

I don't think I would like to receive any letter listing all my personal details. It would be a fraudsters heaven to lay their hands on such letters, and letters do get lost in the post / stolen from communal letter box areas etc.

Yeah thinking it over it's not a good idea. Not sure if it is something you can check via your online banking. Maybe banks could prompt their online customers to check their personal information every so often to make sure it's correct and upto date.

pqrdef

pinkdalek wrote: »

Yeah thinking it over it's not a good idea. Not sure if it is something you can check via your online banking. Maybe banks could prompt their online customers to check their personal information every so often to make sure it's correct and upto date.

Any security check is self-defeating if you can ask them what answer they're expecting. The whole point is that they ask you something that they know, but don't ever tell you what they know.

pqrdef

sulphate wrote: »

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.

If they weren't ready to claim the payment from the new bank, they should have claimed it from the old one and let the redirection system sort it out.

But most payees' systems won't. So the failure scenario is

(1) payee cancels instruction to collect using old DD, with immediate effect
(2) payee sets up new instructions, to take effect from a later date
(3) payment falls due between those two dates, so no attempt is made to collect any payment from either bank. And both banks say it's nothing to do with them.

wrenny

Switched from HSBC to Santander (3% interest account -thanks to this site) and all when exactly to plan with all DD's going over. Still to find out if payments in go as smoothly but don't doubt it. All completed over the internet with no branch visits needed. Very impressed.:money:

wrenny

Switched from HSBC to Santander (3% interest account -thanks to this site) and went exactly to plan with all DD's going over. Still to find out if payments in go as smoothly but don't doubt it. All completed over the internet with no branch visits needed. Very impressed.:money:

100saving

apesxx wrote: »

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

any news on people switching from Barclays to Halifax?

I have moved DD's from my current account to an old Barclays so i can do the switch. i do not want to close my current account so i moved 2 DD's to an old account i don't use so i can close it no problem and then get the £100 then £5 a month.

Hi_Mum

Two of my DD's were due to come out of my old account last month on the day before the switch finally occurred. No payment went out and never out subsequently from the new account.

One of these two DD's went out a few days later with subsequent payments due to go out on the normal date from this month onwards and a further DD was not collected and I was advised as I was ahead with payments anyway, there would be no harm in leaving this month's payment and just going on with this months payment from the new account from this point onwards.

All other DD's have gone out okay but a couple I have had to chase for reassurance as I had no confirmation that they'd received the instructions.

However, will these two DD's above that didn't get collected on the day affect my credit file, which otherwise is just about perfect?

[Deleted User]

Absolutely first class experience, no hold ups at all. Everything has gone across from smile to halifax in exactly a week, I started the process just a week ago,so 5 working days. We also got the £100 incentive after only 3 working days. So far so good and we are both now on halifax online banking, have the cheque books and used and changed the PINs. DDs look fine and a couple of companies have asked for confirmation of the account change, no problem there either. It has all gone far better than I expected