Switching accounts

FutureGirl

I have 3 accounts with NatWest - 2 current accounts and one savings account.

If I were to switch to another bank, would they close all my NatWest accounts, or just the one I'm switching from?

Dan83

They will switch the account you choose to switch

Grabs39

You'll open a new current account with the new bank.

The new bank will ask for the sort code and account number of the Natwest Current account you wish to transfer. They'll transfer your direct debits, standing orders and credits and if you ask them close the old account. (They'll also hopefully pay you a switch bonus)

Your other current account can also be switched by repeating the process. Your new bank should explain all this to you - if they do not this would raise alarm bells about their service.

The savings account will not be affected. If you wish to move it you can open a new savings account with the new bank, transfer the money then contact Natwest to close the old account.

Normally though the new bank will just close the one Natwest current account you are switching from.

Hope this helps. It may also help to give this a read - http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#fact1