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Possible to switch bank account if you have a loan
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KKcat
Posts: 1 Newbie
Hello,
I have a small loan of £1,500 with NatWest for 15 months but would like to swap to HSBC. Is it possible to switch bank account if I have a personal loan?
Thank you.
I have a small loan of £1,500 with NatWest for 15 months but would like to swap to HSBC. Is it possible to switch bank account if I have a personal loan?
Thank you.
0
Comments
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Yes. They are totally separate products.0
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As long as the loan isn't linked to the current account, with some offer, in some way (such as you get a lower APR for being a current account holder), and that you should remain a holder for the duration, to retain that offer, it should be fine.
As always, check the T&Cs of your loan agreement.0 -
How are you paying the loan? If via direct debit then you should be OK.
However if the payment is via 'direct transfer', ie its an internal collection at Natwest, then this might not necessarily be transferred via the CASS.0
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