Bank switching cash going to creditor

Bassist316

Hi everyone,

I'm wanting to take advantage of all the incentives to switch current accounts (I'm also becoming increasingly frustrated with my own bank).

I have one creditor, which I pay by monthly standing order, and im wondering:

(a) will they be notified of my account switch;

(b) will they be entitled to the money banks pay you for switching accounts and;

(c) will they be entitled to any monthly payment that some banks pay - eg halifax £5 a month.

If it helps, I've no CCJ's and I've had been accepted for credit cards etc since engaging with the creditor back in 2013.

[Deleted User]

Yea, no, no.

elrdar

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