Telling employer you switched Bank

Katiehound

How difficult is it to pick up the phone and inform whoever that your bank details have changed??
Simples........

Abbey1991

Katiehound wrote: »

How difficult is it to pick up the phone and inform whoever that your bank details have changed??
Simples........

For the retired person I'm thinking of advising to switch, probably seems quite a big task to be honest. You have to find the right department, satisfy them as to your identity, read out the account number correctly, hope that they write it down correctly...

Katiehound

Abbey1991 wrote: »

For the retired person I'm thinking of advising to switch, probably seems quite a big task to be honest. You have to find the right department, satisfy them as to your identity, read out the account number correctly, hope that they write it down correctly...

Well the other way to do it is to use good old snail mail.
That way you quote the old a/c & sort code together with the new a/c and sort code.
Then you just ensure you have put your full name , address and the relevant reference/ pension number whatever on the letter. This way the letter can be checked by a helpful friend to ensure that nothing has been missed.
To be honest 'though I think many organisations would prefer phone as it is instant

northwalesd

AirlieBird wrote: »

Perhaps it's not the norm, but I can't recall ever having had a payslip that didn't contain the details of the account it was being paid into.

My payslips don't contain that information, nor those of my partner. I'm pretty sure I've never seen a payslip that does have it on.

Westie983

Redirection for three years when you switch accounts, giving you plenty of time to notify companies of your new account details, that said if you haven't switched again in that time.

Some companies that pay into the closed accounts and it does get bounced back will contact you any way, then you can tell them of the new bank details.

Its the normal way now, less paper and more money in your back pocket.

Westie983

twiglet98

AirlieBird wrote: »

Perhaps it's not the norm, but I can't recall ever having had a payslip that didn't contain the details of the account it was being paid into.

I can't recall ever having a payslip that DID include my bank account details.

When I want to change the account my salary is paid into, I contact the wages dept (in my current job, that's one individual), and ask them to pay into that account from such-and-such date, until further notice. For recent switches using the CASS I did not want my salary paid into the new account.

colsten

Abbey1991 wrote: »

Thanks.. so what about a retired person with a handful of income streams from different pensions etc. It wouldn't really be worth the hassle of switching - trying to inform DWP for example would be difficult.

Why would it be difficult to tell the DWP (or anyone, for that matter) your new sort code and account number?

Westie983

colsten wrote: »

Why would it be difficult to tell the DWP (or anyone, for that matter) your new sort code and account number?

They are notorious for not answering the phone for one, and getting the details changed in time for the next payment, its used to be the main complaint when customers used to move their own payments before the CASS did it automatically

Westie983

verybigchris

When my employees have switched banks I've never heard about it. All that happens is that I put the payment through as normal, and in the background the bank gets the message that future payments are to be redirected to the new account and so they update the saved payee details.

It makes it easy, but it does cause a potential problems in the future (especially during an audit) because the new bank details don't tally with the employee's records, so I'd always appreciate an employee telling me in writing.

Kim_13

The redirection is now indefinite, assuming a payment goes stray at least once a year or so. Taken from the MSE guide on the best bank accounts:

"Your new bank will arrange for payments accidentally made to, or taken from, your old account to be automatically redirected to your new account.

"This will happen for three years or until a 13-month period has passed since the last payment has been redirected, whichever is longest. It will also contact the other person/company and give it your new account details."

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts#fact1 (see the first quick question.)