Switching Banks - Who To Tell?

ConnorH

Today I've applied to open a Halifax Reward Current account and switch from Santander.

Although the switching service states that Halifax will notify any payees trying to put money into my old account (and transferring it to my new account) should I rely on this to happen?.. Or should I actively update organisations on my new bank details?

I am going to inform my current work, but I'm more wondering about Student Finance as next year I should start paying back my loans and this June I should receive a bursary payment.

What about my mobile phone provider who I have a DD with? Any one else?

Sorry if this seems like a daft pondering, but I want to be safe rather than sorry!

Thank you.

jonesMUFCforever

It should work automatically - you may have to advise any continuous payments on cards as these won't transfer over.

Hominu

ConnorH wrote: »

Although the switching service states that Halifax will notify any payees trying to put money into my old account (and transferring it to my new account) should I rely on this to happen?.. Or should I actively update organisations on my new bank details?

Actively update organisations who credit your account. Banks don't notify the companies of your new bank details, instead they redirect the credit to your new account, but they only do this for so long.

The only organisations that get your new bank details are those who you have a DD or SO with.

Aquamania

Hominu wrote: »

Actively update organisations who credit your account. Banks don't notify the companies of your new bank details, instead they redirect the credit to your new account, but they only do this for so long.

The only organisations that get your new bank details are those who you have a DD or SO with.

Is incorrect

After the switch date, payments either accidentally sent to or requested from the old account will be redirected to the new account for a period of 13 months. The person or organisation that is trying to debit/credit the old account will be notified of the new account information so they can update their records and ensure that subsequent payments go straight to the new account rather than the old one

http://www.paymentscouncil.org.uk/switch_service/account_switching_explained/comparing_the_current_service_with_the_new_service/

Archi_Bald

I'd still not trust the banks and inform anyone who credits my account myself.

jennie44

Thanks for bringing this to my attention.
I've encouraged my 80yr old mum to switch her bank a/c, she has various pensions debited to her. Should I contact these organisations about the switch or is this done for her. We have an appointment tomorrow with her new bank tomorrow and if we ( I ) need to actively contact these organisations I need to rethink this. I have power of attorney and although she understands everything I need to simplify facts.

puk999

Aquamania wrote: »

After the switch date, payments either accidentally sent to or requested from the old account will be redirected to the new account for a period of 13 months. The person or organisation that is trying to debit/credit the old account will be notified of the new account information so they can update their records and ensure that subsequent payments go straight to the new account rather than the old one

If I logged into my Nat West online banking, sent a payment to someone using outdated bank details (i.e. they've switched bank), would I expect a phone call or email from someone, or would the notification be within NWB online banking? It's not a scenario I expect to encounter, but just curious if anyone knows.

I've been thinking about switching banks but I'm a little skeptical about the notification aspect of it.

System

NatWest will advised that the account has moved and will update the details automatically (in theory).

I would expect a message to let you know, but the rules only require that the payment details are updated.

puk999 wrote: »

If I logged into my Nat West online banking, sent a payment to someone using outdated bank details (i.e. they've switched bank), would I expect a phone call or email from someone, or would the notification be within NWB online banking? It's not a scenario I expect to encounter, but just curious if anyone knows.

I've been thinking about switching banks but I'm a little skeptical about the notification aspect of it.