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Current account switch and DMP

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Comments

  • boo_star
    boo_star Posts: 3,202 Forumite
    Part of the Furniture 1,000 Posts
    Singlemama wrote: »
    I’ve already spoken to them and they’ve said that no payroll changes can be processed after the 3rd of the month.

    I’m seriously worried. :sad:

    They’re full of it, but as the salary is due to be paid on the 23rd and they’re not going to be in the office until Monday there is now nothing you can do but wait and see.

    If Barclays try to take the lot as a payment I’d claim hardship if I were you.
  • meer53
    meer53 Posts: 10,217 Forumite
    Tenth Anniversary 10,000 Posts Combo Breaker
    You need to speak to Barclays to confirm that your overdraft is included in your DMP otherwise they may keep enough funds to repay it before sending the balance to your HSBC account.
  • Westie983
    Westie983 Posts: 5,215 Forumite
    Tenth Anniversary 1,000 Posts I've been Money Tipped! Name Dropper
    If the switch is completed then you wages will get transferred, but Im not sure if they allow you to switch an overdrawn account, and any wages that gets paid in will pay off the overdraft.

    I would cancel the switch and then you still have access to your wages and then pay off the overdraft as part of the DMP.

    Good Luck

    Westie983
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
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