Changing address with bank

Jtro

Hi all

Bit of a stupid question, but one I can't really find the answer too online so I'll come to you!

Basically, the circumstances are quite complicated, so I won't go into them, but I need to change my address with my bank, but only for a couple of weeks to a month before I then change it again to a new address.

I just wondered if this would have any effect on my direct debits as the associated companies have the original address? I don't need (or want) to change my details with them for the temporary change, but obviously I can't be having them all knocked back because of a mismatch in details or something.

As far as I can work out there's nothing I need to worry about, as the address is important for the credit check, but the direct debit actually has no address associated with it, but I just wanted to check.

Cheers :beer:

InsideInsurance

No impact on DDs, they are linked to the sort code and account number which remain static. Gone are the days that moving address meant switching branches and thus changing these details

Jtro

InsideInsurance wrote: »

No impact on DDs, they are linked to the sort code and account number which remain static. Gone are the days that moving address meant switching branches and thus changing these details

That's good to know, thanks!

There are no other effects on anything else I don't suppose? I guess it's just a correspondence address for 99% of the time?

InsideInsurance

Jtro wrote: »

That's good to know, thanks!

There are no other effects on anything else I don't suppose? I guess it's just a correspondence address for 99% of the time?

Some future lenders wont like the quick moves which will show up on the CRA files but if its what you need to do then so be it.

plunt

I was going to mention this, when I was a student i ensured i kept the same address (parents home) throughout purely to ensure I looked stable on my credit file.

Granted some times the situation forces you to (eg: break ups meaning you wouldn't want your mail going to the old address) Many times you can get the bank to change the correspondence address which is a temporary measure but you keep the original address as is. As it is such a short period of change I would have recommended doing that, or nothing at all....

Then again if you aren't looking for any new credit cards/mortgages in the coming months then you may be fine.

Jtro

Thanks to both of you, that's something to consider; I may see if I can change just the correspondence address in that case

Jtro

(sorry for the double post)

I've just spoken to my bank and they said they can't change just the correspondence address, so it looks like it's either keep it the same or flip it for a short time.

The change is worth over £2k to me if I do it, so it might be worth it for me as I'm not in any urgent need to get new credit any time soon. I was looking at upgrading my student credit card once I start work. My credit is good otherwise, any idea how long it would take for this to stop having an impact on my credit rating?

Lith

I've changed my address like 15 times over 10 years, and i still have no problem getting credit cards or accessing my banks,

doesn't do any harm at all... we are all human and need to 'move around' after all yea? lol

No harm will be done at all, you can change your address as much as you want as short as you want.

plunt

it will only impact you with some lenders, and will also be dependent on how all your other finances are doing. I dont reckon it has major impacts, atleast from my own experience but if it can be avoided then its always best to do so!

still trying to work out how you will benefit 2k by changing address!

Jtro

plunt wrote: »

it will only impact you with some lenders, and will also be dependent on how all your other finances are doing. I dont reckon it has major impacts, atleast from my own experience but if it can be avoided then its always best to do so!

still trying to work out how you will benefit 2k by changing address!

Like I said, it's a bit of a long story, but basically comes down to relocation benefits at a new job and a slightly unconventional living situation over the last three years!

My address has gone 4 years unchanged up to now, and I've been with my bank for 6, so that will hopefully go in my favour when it comes to stability, even with a couple of address changes in a short period. I was looking to upgrade my student credit card once I start working, but other than that I have no plans for significant credit applications over the next 3 years minimum.

Might just have to do it, I'll have a think.

Jtro

Stupid question again...

When applying for credit and stuff and you put in your address and then say how long you've lived there, then give other addresses of the previous 5 years or so, is that checked against the bank account?

I always assumed that the information from that came from elsewhere given that it asks for dates and people often just redirect mail for months before notifying their bank etc...