Can you switch without closing the old account?

7sefton

Hi

Trying to switch a bank account to Bank Of Scotland using their online switching form but do not want to close my old bank account. Can't see to find this option on their form - is it available or is closure a compulsory part of all switches nowadays?

Thanks!

Lungboy

As far as i understand it, a switch is just that - you are totally switching your account from one institution to another. I don't think you can switch and leave the original account.

stclair

You do a partial switch which will transfer your Direct Debits etc.

colsten

stclair wrote: »

You do a partial switch which will transfer your Direct Debits etc.

Not all banks offer partial switching, and if they do, there will be no guarantees.

OP, why do you not want to close your old account? What is it you want to switch to BOS? You can switch bits and pieces yourself.

EarthBoy

Closing your old bank account is an essential part of the new Current Account Switching Service, which comes with the guarantee that all payments to and from your old account will be redirected to/from your new account for 36 months, -it was 13 months up to 31 March.

For this redirection to work, the old account must be closed. Otherwise, how would the old bank know whether you wanted the payments redirecting or not.

As has already been mentioned, some banks offer a partial switch service which transfers your direct debits and standing orders, but it doesn't close the old account. This sort of switch doesn't come with any guarantees and it doesn't redirect any payments other than the DDs and SOs which have been transferred. Not all banks offer this sort of switch, and if they do it won't come with the joining bonus because it means that you still want to keep an account with one of their competitors.

System

BOS doesn't offer a switching bonus AFAIK

EarthBoy wrote: »

Not all banks offer this sort of switch, and if they do it won't come with the joining bonus because it means that you still want to keep an account with one of their competitors.