Switching bank accounts and employer salary

bikeman

Hi

I recently switched bank accounts. All my sto's and dd's have been moved and my old account closed.

However, my employer pays my salary via BACs and they have confirmed that payroll still has my old account number, which is now closed.

My bank assure me that the switching service takes care of everything but this does not seem to be the case.

Has anyone any experience of this?

Thanks

Paul_1977

They should set up a re-direction for anything that is sent to your old account to your new account. Test it by sending £1 to your old account maybe?

bikeman

Hi Yes I know that a redirection is in place and it does work but it is for a finite time. How will they notify my employers payroll before the redirection expires?

JuicyJesus

bikeman wrote: »

Hi Yes I know that a redirection is in place and it does work but it is for a finite time. How will they notify my employers payroll before the redirection expires?

They will send a SWIFT 199 message (a secure interbank email, basically) to the sending bank advising that the account has been switched, the payment has been forwarded and that the new account number and sortcode are whatever they are. It is then up to the sending bank to get in touch with their customer (your employer) and notify them.

In practise the best way to change the details is for you to change them yourself, then there is no worry.

agrinnall

If the process that JJ describes is correct (and I've no reason to think that it isn't) then it is completely dependent on the payer acting on the notification from their bank. I doubt if there is any way they can be compelled to make the change, so I would definitely agree that requesting the change yourself is the best option.

pinkdalek

If you are that concerned just tell your employers your new bank details yourself.

Paul_1977

When I switched my new bank sent a letter to my employer telling them to pay the wages into my new bank, my employer asked me to check the details so you might as well do it yourself.

SevenOfNine

When I changed banks I just gave my new sort code and a/c to my employer.

It would seem you are making life difficult for yourself.

JuicyJesus

agrinnall wrote: »

If the process that JJ describes is correct (and I've no reason to think that it isn't) then it is completely dependent on the payer acting on the notification from their bank.

It is also completely dependent on the notification from the bank being issued in the first place. They'll have the 199 message, whether they will inform their customer about it is another matter.

bikeman

pinkdalek wrote: »

If you are that concerned just tell your employers your new bank details yourself.

Yes of course i can do that and will do so but I was concerned on the wider issue of how it was supposed to work on the basis that if the system relies upon failed payments (and it appears that it does) then I would have to notify all parties who make regular payments to me.

System

When I switched to Cydesdale it was too close to my next salary payment to get my employer to action a change of account details. The salary payment was made to my switched account which by that time was closed and I received the payment in my new account with no delay whatsoever.