What happens to internal transfers when switching?

etienneg

Consider a current account with Nationwide set up with an automatic monthly transfer into a Nationwide regular saver account. What happens if this current account is switched to another provider? Does the (previously internal) transfer automatically become a standing order, or does it just disappear?


(And before anyone brings this up, assume there is another NW current account that stays at NW which will maintain eligibility for the regular saver!)

Westie983

It could either

** Show on a list of presaved payments, (faster payments, saved recipients)
** Not shown at all as they are neither DD or SO

either way check you have the correct number of DD or SO before the switch commences.

Westie983

soulsaver

Am I missing something obvious? Couldn't you convert it to a standing order prior to the switch?

badger09

Automatic monthly transfer to a regular savings account = SO, albeit an internal one?

In which case, it should automatically be transferred with the switch.

dj1471

I would expect it to be converted into a standing order.

I had a Nationwide current account and mortgage, the latter being paid using an internal process rather than by Direct Debit. When I switched out it was converted to a DD.

JuicyJesus

I would ask Nationwide, as a regular payment to a savings account will use a roll number rather than the sort code and account number every other bank will use.