Transferring direct debits to another account

Harmonica89

If I was looking to transfer all my direct debits from one bank account to another in the same bank, how would I go about this? Is this easy to do?

Would I have to advise each company individually?

I know there is a switching process between different banks. I would appreciate any advice on this.

Thanks

Fruit_and_Nut_Case

Harmonica89 wrote: »

If I was looking to transfer all my direct debits from one bank account to another in the same bank, how would I go about this? Is this easy to do?

Would I have to advise each company individually?

I know there is a switching process between different banks. I would appreciate any advice on this.

Thanks

Yes, inform them all individually.

You probably wouldn't want to consider the Current Account Switching Service as it automatically closes the old account when the switch has been done. I don't know if you could use it between accounts with the same bank anyway.

YorkshireBoy

The best time to call the DD originators is the day after payment is taken. That will give them the best chance of getting the new details in place in time for the next payment.


You'll need to be very careful with credit cards because just a week or so after the payment due date they'll produce the next statement...and if the DD hasn't been set up in time it won't kick in until the next statement date. The credit card company should inform you of this, either on the phone or by confirmation letter. You can check whether the DD is set up by checking your next statement. If the message isn't there, you must pay by other means and check again the month after.


If you can leave funds in each account just in case, you can protect yourself from any glitches.

BMN

You can transfer DDs between your own current accounts without having to inform each company individually at Lloyds Bank either in branch and (I think) over the phone.
Same applies for Halifax and Bank of Scotland.

YorkshireBoy

BMN wrote: »

You can transfer DDs between your own current accounts without having to inform each company individually at Lloyds Bank either in branch and (I think) over the phone.
Same applies for Halifax and Bank of Scotland.

Is that because there's some kind of re-routing internally? Or because they contact the DD originators on your behalf?

Simker

I have called individually then cancelled the dd with the old bank after hanging up. I had used a switching service to move a current acct to tsb classic plus and have now decided to use the tsb accts as savings only so wanted to move the dd's without closing.