Current Account Switch - what does the new bank know?

Don80

Hi, I am curious. When you use the current account switching service, what (aside from DD/SOs) does your new bank find out? Do they find out for example, what charges you have paid, how often you go overdrawn etc? Would they find out about cancelled direct debits?

mwarby

Don80 wrote: »

Hi, I am curious. When you use the current account switching service, what (aside from DD/SOs) does your new bank find out? Do they find out for example, what charges you have paid, how often you go overdrawn etc? Would they find out about cancelled direct debits?

I'm pretty sure they don't see old transactions, unless you show them statements

They can see some detail on overdraft usage through your credit file, but I think that's it. If your transferring the balance, they will of course see the balance

They can see some charges through credit file too, if your old bank set say a late payment marker

As far as I know they only see the current direct debits, although maybe still see very recently cancelled ones(like from a few days ago)