current acc switch query

TriathNanEilean

mutty_hc wrote: »

Hi all,

I have a query regarding switching, I am considering the halifax switch.

Basically upon switching do I need to transfer all my old DDs over, and do I need to close my old account?

It seems to infer this on the websites but want some clarification of real world use.

Thanks

Having just used Halifax Reward switch service I can recommend it. Basically, once you tell them the details of the old c/a that you want to be switched, they do all the rest for you. Including closing the old account.

All DDs and Standing Orders were moved over. The switch only took about a week or so. But in addition, a few Standing Orders that I had with 3rd party banks got changed after 3 weeks so that they now pointed to the new c/a and not the old one (which was handy). And in addition, the record of all the payees I'd ever sent money to using the old c/a got moved over, so when I come to transfer money to e.g. my property factor or my brother their a/c details were already there in the Halifax c/a. Useful since having to retype all that stuff again risked typos and money going awry.

Having said all that, always sensible to anticipate problems - I copy+pasted all my info in the old c/a online screen to a text file so I would have it if the worst came to the worst.

Armorica

There is a bit of incomplete information on this thread.

The switching service was changed last September. A 'guarantee' was added as was an automatic redirection of payments for around a year.
http://www.paymentscouncil.org.uk/switch_service/account_switching_explained/comparing_the_current_service_with_the_new_service/ explains the differences. This is the full switching service.

There is a lesser known partial switching process - which does not include the guarantee, or the automated rediction - but provides for your 'old' account to remain open.

In order to get incentives, almost all banks would expect you to close your old account and use the full switching process.

http://www.barclays.co.uk/images/7ds/partswitchserv.pdf is an example of information on a partial switch

jimjames

My account has now transferred.

All DDs moved across as did Standing orders.

One thing that I wasn't expecting to be moved across were all payee details for payments made previously on my old account which is handy as it means I don't need to set them up again.