Possible to switch bank account if you have a loan

KKcat

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.

Edi81

Yes. They are totally separate products.

binaryuniverse

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.

YorkshireBoy

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.