CASS and Incoming Standing Orders

Fingerbobs

Believe it or not, I've never actually done a CASS current account switch.

Just curious as to how incoming standing orders from other accounts into the account being switched are handled, if at all?

I know that incoming payments are redirected indefinitely, but is there any upstream process to change the standing order at the sending bank to point to the new account?

EarthBoy

From CASS:

What happens to payments that people send to my old account?

The Current Account Switch Service will redirect payments to your new account. Each time an electronic payment is redirected an automatic message is sent back to the originator advising them of the new account details so they can update their records. Some organisations may contact you directly to confirm your details have changed.

https://www.currentaccountswitch.co.uk/helpandsupport/Pages/help.aspx

Armorica

Yes. There is an automated redirection and a process to update the original standing order.

Westie983

Fingerbobs wrote: »

Believe it or not, I've never actually done a CASS current account switch.

Just curious as to how incoming standing orders from other accounts into the account being switched are handled, if at all?

I know that incoming payments are redirected indefinitely, but is there any upstream process to change the standing order at the sending bank to point to the new account?

Hi,

You don't mention which bank you are referring to, but the redirection is not indefinitely it will more likely be for 36 months.

You ask if there is a process to change the standing order, i'm not understanding your question, you are able to amend the details of the standing order from the sending bank to the new account details you have opened and remove the old account details of the account which is being switched out.

Westie983

Westie983

Armorica

Westie983 wrote: »

Hi,

You don't mention which bank you are referring to, but the redirection is not indefinitely it will more likely be for 36 months.

You ask if there is a process to change the standing order, i'm not understanding your question, you are able to amend the details of the standing order from the sending bank to the new account details you have opened and remove the old account details of the account which is being switched out.

Westie983

Westie983

That information is out of date.

https://www.moneysavingexpert.com/news/banking/2017/01/redirection-period-for-payments-to-old-bank-accounts-to-be-extended-

It's essentially indefinite redirection now - as long as there is a payment every thirteen months. (And it would be incredibly unusual/often impossible to set a standing order for less than once a year)

If you are a recipient of a standing order made at least every 13 months - you will receive it for decades to come (unless it is cancelled/source account closed). There is a process for the standing order details to be amended - but banks may choose to rely on the redirection instead.

And the arrangements vary for 1:1 standing orders vs. where there is a major recipient of standing orders (such as a national charity). In the latter, there is an automated update process than can be applied.

https://www.business.rbs.co.uk/business/turnover-2m-or-over/cards-and-payments/making-and-accepting-payments/Indirect-Access-to-UK-Payments-System/UK-Payments-Systems-and-Associated-Services.html (public info is hard to find - SOFA/ASOFA - but these exist, are known about by the payment teams of banks, and are used)

Ballard

From my experience, whenever I’ve made a payment to a switched account a message has been returned and the payment instructions have been updated to show the new details for future payments. I don’t see why this would be different for standing orders.