Switched bank - what if someone pays my old account?

NorthantsPete81

So Ive switched accounts from hsbc to natwest
I was also in the middle of a loan process... they approved me and now want to send the money to my old account
The switch is complete as of monday so my old account wont work anymore


What if they send me the loan money to my old account or try to take a direct debit - will it bounce/fail?


I rang them to change it but they aid theyd have to reapply for my loan and i coul dbe declined


Should i just leave it, and hope the money gets to my new account?? Im wishing i hadnt takent he bait and switched now until my loan was complete - idiot!

18cc

the money will be forwarded to your new account provided you switched using the current account switch process.

you should simply call the loan company at some point and give them your new account details for the direct debit

NorthantsPete81

sounds logical to me.

gozaimasu

Here's another one:


Switch bank from Halifax to Natwest, then switch that to BoS. Does the payment system thing roll over even if you switch bank accounts more than once?

Ben8282

I really can't help wondering why you found it necessary to switch accounts right in the middle of the loan process. You really do like make life difficult for yourself.

18cc

yes any payment will go from original bank A to new bank B then onto new bank C etc etc right down the line.

Katiehound

I accidentally sent money to a switched a/c and it moved on to the new home very speedily, within a couple of days, I think.