Think Money to first direct

Blue69

ok I didn't agree with the new monthly charges for my think money account so decided to change my account and applied to first direct and was granted a first account. So good so far. Have set up telephone banking, sms and nearly sorted online banking. Phoned them today to sort out switching the accounts and was asked to phone think money to find out whether they support the switch over. They don't. Aren't they an affiliate of RBS who do support the switch over? Please help advice eagerly accepted since it looks like I may have to do the switch the old way

Archi_Bald

ThinkMoney is not participating in the Current Account Switch Service. http://www.simplerworld.co.uk/Pages/Banks.aspx#t

Blue69

Thanks Archi. Any thing that I need to not forget whilst switching manually??

Vortigern

Blue69 wrote: »

Any thing that I need to not forget whilst switching manually??

Ask first direct if they will give you an interest free overdraft while your manual switch is in progress. Otherwise you'll have to keep a high enough balance in both accounts to cover your direct debits.

Switch each direct debit immediately after it has been paid by think money, to avoid any late payment fees from the beneficiaries.

Similarly for your salary - wait till you've been paid to the old account, then give your employer the new bank details.

Check your statements for any continuous payment authorities you may have given, allowing companies to take a debit card payment for regular payments. Contact those companies and give your new card number.

Watch out for annual payments, insurances etc.

Check for irregular incoming payments, dividends, interest from building societies, gifts from relatives etc.

Don't forget to close the old account when it's all completed and get a final statement showing "Account Closed" and balance = 0.00

Have I forgotten anything?

pmduk

Think Money are not and never have been affiliated with RBS in any way other than banking their customers's money with them.

Blue69

Yes after talking to FD they confirmed this. Think Money also use Nat west for payments/ paying in, unfortunately I will not qualify for the switch incentive.