Switching Query

Psyduck1980

Does anyone know if a switch will complete successfully if there is nothing to switch on the old account (i.e. no balance, no direct debits etc)?

eskbanker

I can't think of any reason why it wouldn't - it's not just about the one-off activities of shifting a balance and transferring DD/SO instructions, but also setting up ongoing redirection arrangements, including notifying other institutions, etc.

Having said that, it can't do much harm to stick some sort of token balance in there, just to be on the safe side....

born_again

It will. Was there any payments set up?

mwarby

If this is being used for a switching incentive, the payer of said incentive.may not be keen on classing a switch which switched nothing as a switch

[Deleted User]

A full switch of an empty account is a switch, and will result in the empty switched account being closed. However such an arrangement may not qualify for a switching bonus if one is going begging, need to read the t and c's of the switch bonus offer.

I've read on this forum of people switching empty accounts as a method of closing accounts they no longer need or want. It may be quicker or easier than asking the bank to close the account.

Tharweb

I switched a Tesco account with a £1 balance and no DD's to RBS. RBS t&c's only require me to pay in £1500 before January 20, and access the account using their app or on line banking. Depends on the back you switch to and their terms.

girllikeme1

I've switched zero balances with no DDs from Tesco to Santander and from Santander to RBS. All fine and got the incentives.