New bank question

lilmissworry

I've opened a new bank account and the switch is going through now. I just wondered if anyone knows,does the switch include letting my employer know for my wages or do I need to inform them?

Thankyou.....

Candyapple

You need to inform your employer.

bobobski

If you're using the switching service it will automatically forward payments to you for some length of time (I think in the order of 3 years but I'm not sure and can't be bothered to look it up). However, given that there is a fixed length of time this service operates for, it would be prudent to tell your employer immediately.

agrinnall

bobobski wrote: »

If you're using the switching service it will automatically forward payments to you for some length of time (I think in the order of 3 years but I'm not sure and can't be bothered to look it up). However, given that there is a fixed length of time this service operates for, it would be prudent to tell your employer immediately.

I believe that it is changing to do forwarding indefinitely as long as payments are still occuring. And the originator is informed by the old bank that a switch has taken place so they can update their information (although they may contact the account holder first).

Westie983

CASS transfers and forwards any credits for three years, as part of the service, so any funds that go into the old closed account are transferred in to the new one, this includes any benefit payments, although I would also call to confirm they have the right details.

KJSmith

You probably won't need to inform you employer. When they next pay your salary (whether by BACS Direct Credit or the Faster Payment Service) they will receive notice that your account details have been redirected and should automatically update their records.

bodjen0611

KJSmith wrote: »

You probably won't need to inform you employer. When they next pay your salary (whether by BACS Direct Credit or the Faster Payment Service) they will receive notice that your account details have been redirected and should automatically update their records.

i think for something as important as getting a salary paid into a different bank, I would notify my employer. Employers will be notified that the account details have been directed but whether they will automatically update their records is another question. Some employers will require written authorisation from the employee before amending bank details.