Switching when people paying me via bacs

jamels2

Hi
I'm not happy about nationwide directors salaries and thinking of switching.
I have two direct debits so that's fine.
However I have a couple of people paying me money ( rent and loan repayment) .
If I get a new current account will I have to tell these people to pay me with different account details?
Thanks!

TadleyBaggie

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

Q: What happens to payments that people send to my old account?
A: 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.

Chino

jamels2 wrote: »

If I get a new current account will I have to tell these people to pay me with different account details?

If you make use of the Current Account Switch Service:

"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

Although I would have thought that the sensible thing to do is to advise the payers of your new account details just to be safe.

18cc

I would absolutely advise the people of your new details it is the first thing I would do switch service or not

that said if they keep sending it to your old account the switch service will forward it onto your new account

EarthBoy

18cc wrote: »

I would absolutely advise the people of your new details it is the first thing I would do switch service or not

I've never given anybody my new bank details when I've changed banks, -I reckoned it would just confuse people. Instead, I've let the system take care of it and I've always received any payments instantly they were made.

spingoblin

My brother sometimes makes payments into my account and I didnt have to do anything like give him my new details - I switched from TSB to Santander and my new sort code and account number updated within HIS Barclays online banking after the first re-directed payment.

Ballard

EarthBoy wrote: »

I've never given anybody my new bank details when I've changed banks, -I reckoned it would just confuse people. Instead, I've let the system take care of it and I've always received any payments instantly they were made.

Advising people of the change yourself would also bring human error into the equation. Either you or the payer could easily bring a typo into play. In the unlikely event that something goes awry during the automatic process you’d have reason to complain and should not be out of pocket.