MSE News: Seven-day switching: Does it work? We put it to the test

Former_MSE_Helen

"How has the new current account switching scheme fared? MoneySavingExpert.com put it to the test ..."

Read the full story:

Seven-day switching: Does it work? We put it to the test




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Hazzanet

Reads like a bit of a Barclays bashing.

rb10

I'm also sent an email telling me my switch date – it's seven working days from receiving the email that my application was successful, but eight working days from applying for the account (including the day I applied).

I think you mean six and seven working days, rather than seven and eight.

When you are counting days, you don't include the first one. Imagine you applied at 10am on a Monday, and they switched you at 2pm on the same day. Your switch would then have gone through the same day, i.e. no days have passed (zero working days). If it went through on the Tuesday, that's one working day. Keep counting on, and I reckon you'll find your switch took seven working days, as promised.

pqrdef

It found of people who'd never switched, only 22% were likely to change account because of the new guarantee.

Did they ask how many people were less likely to switch?

harrypottersmum

My husband switched from Barclays to Halifax and didn't receive the £100 bonus. When he complained, they gave him an additional £20 for the inconvenience!:T

Young_Tug

Unlike most on here my switch is not going to plan. Am moving from Santander to Nationwide who tell me Santander have not responded to their request for my payment details (direct debits etc.) I managed to speak to a manager in Santander's switch team yesterday who told me he does not speak to customers because the call was not recorded!! He was most unhelpful, said I should not have been given his number and point blank refused to take any details from me thus refusing to try to solve the problem.
Today (24th) Santander claim not to have received the request from Nationwide so the whole process has had to be started again. The switch is now scheduled for 1st Nov instead of 25th Oct.
Meanwhile my income will come into the new account but my direct debits will be requested from my old one where there will be almost no funds!

rb10

Young_Tug wrote: »

Meanwhile my income will come into the new account but my direct debits will be requested from my old one where there will be almost no funds!

On this last point - you can very easily and quickly transfer money from your new Nationwide account to the old Santander account as soon as you are paid.

If you haven't yet set up internet banking, you can phone up. Their geographical number is 01793 65 6789.

Former_MSE_Helen

Hi all, this is a thread to discuss the MSE blog:
Better the devil you know: Where’s my switching bonus, Halifax?

"After 17 so–so years with Barclays I switched current account to the promise of great things with Halifax..."

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Archi_Bald

If this is a freak one-off error (we’ve not heard of anything similar happening),

Several people posted on the forum about their missing £100, but many got their £100 almost instantly, too.

E.g. https://forums.moneysavingexpert.com/discussion/4803722

Hi_Mum

Was due to move from Santander to FD on the 22nd, they messed up so on the 19th then had to set up a new process so ended up having to wait until the 29th. This has came today and the balance has still not transferred over from Santander (apparently they have a 'backlog'), plus two DD's that were due to be paid yesterday (28th) have no records of leaving either Santander or FD.

This hasn't been an easy process this and I'm a little peeved that I'm having to chase this all up and seemingly two DD's have not been paid.

I can't really blame FD for any of this, none of this is seemingly their fault however I'm waiting to pay other bills, people etc and I can't really yet as the balance has not gone to the new account I want to pay these from.

Hi_Mum

I'm also concerned that if the two DD's aren't paid how this will affect my credit report/rating....eugh.