Do I need to tell the bank that I've moved?

The_Grouch

Sounds like a stupid question, of course I do you'd assume, but....

About 6 weeks ago I moved out of my parents and into a housing association property, my head was turned by the really nice flat, but sadly the horrid area/neighbours/commute are getting me down. (particularly the commute).

I'm actively looking to move closer to work into a private rented flat, hopefully within the next few months I can make this happen.

So far I've signed up for all the necessary utilities, and told my car insurance and council tax/electoral register about the move. Everyone else still thinks I'm at my parents address, which suits me because I'd rather my post went there for now.

If I tell the bank, I guess I have to change my billing address with all my direct debits, of which there are many, and all my post will start coming to the new flat.

Are there any repercussions for not telling the bank about the move? I'm most worried about credit score and previous addresses tallying when they credit check me for a new property?

Thanks in advance for any input!

Rambosmum

If you are moving shortly I wouldn't bother - particularly if you can still get the post easily at your parents.

I can't think of any repercussions off the top of my head, other than the 'what if you get a charge' type thing, but with everything being online these day's I doubt you'd wait for a letter to tell you about it.

smdabs

Its no worries at all, the bank don't need to know anything about your house move until you find your permanant residence. Your credit report is only linked to your electoral roll address - if you don't change it when you apply for a loan etc and there is a mis-match on the electoral roll address, it can cause a problem however all you'd have to do is get it amended and you'd be fine from there.

No detriment to your credit file if bank not made aware - you just wont receive your statements etc.

(Banks have millions of customers with old/dormant accounts that haven't been used in a while and a registered to previous/old addresses - i have never heard of this ever causing a problem for any of the customers)

The_Grouch

Thanks both!