CASS Partial Switch 14 January 2020 at 10:51AM edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts 12 replies 374 views

abz88

Will be looking to switch my main account from RBS to Santander once the cashback changes at RBS come in place next month. I am slightly vary of closing my main account and came across the CASS Partial Switch which allows you to move chosen payments across and leaves the old account open, however, it doesn't get the same switching guarantees as the full switch

Has anyone used the partial service and did it work out or was it a bit of a mess?

colsten

I am not sure if Santander offer partial switches. If they do, as you rightly say, there are no guarantees attached. So you would have to give them precise instructions, and then check that each of your DDs/SOs has been properly transferred. I think it might be faster, and not any more risky, to just do it all yourself.

SOs are easy to cancel on the old account and to set up on the new one.

Many payees let you change the DD instructions online or over the phone. Very few require a postal DD instruction. All you need to do is give them your new sort code and account number. The old DD instruction should get cancelled / no longer executed automatically, but to be on the safe side, you can manually cancel it in your old account. Best time to change a DD is immediately after it has been paid.

You obviously also need to ensure you have sufficient funds in the new account on the day(s) your SOs / DDs need paying. Transferring funds from your old to your new account is child's play with Faster Payment.

born_again

abz88 wrote: »

I am slightly vary of closing my main account

Just what is your worry?

Might be far easier to get answers to that than find people who have done a partial switch.

TBH. You might as well just open a Santander (have you seen the interest & cashback change) and do it all yourself.

abz88

born_again wrote: »

Just what is your worry?

Might be far easier to get answers to that than find people who have done a partial switch.

TBH. You might as well just open a Santander (have you seen the interest & cashback change) and do it all yourself.

Unlike a full switch there are no gaurantees if it goes wrong, so if a DD doesn't switch over properly, is paid late due to switch etc then I am liable for fines/fees and not the bank as is the case with a full switch. Unlike a full switch that has a guaranteed time limit of 7 days, there's isn't one for a partial switch, so unclear how long it is. So if the process is likely to cause some issues, I'll likely avoid it.

On changes to Santander, it would be the 123 Lite so interest not an issue. I would still make more on their changes to bills cashbank than with the new RBS changes

abz88

colsten wrote: »

I am not sure if Santander offer partial switches. If they do, as you rightly say, there are no guarantees attached. So you would have to give them precise instructions, and then check that each of your DDs/SOs has been properly transferred. I think it might be faster, and not any more risky, to just do it all yourself.

SOs are easy to cancel on the old account and to set up on the new one.

Many payees let you change the DD instructions online or over the phone. Very few require a postal DD instruction. All you need to do is give them your new sort code and account number. The old DD instruction should get cancelled / no longer executed automatically, but to be on the safe side, you can manually cancel it in your old account. Best time to change a DD is immediately after it has been paid.

You obviously also need to ensure you have sufficient funds in the new account on the day(s) your SOs / DDs need paying. Transferring funds from your old to your new account is child's play with Faster Payment.

It's more the time it would take to manually amend various SO, DDs, salary etc.

Ideally I only want to leave 2 x DDs (to get the new reward payment from RBS) and the rent I get from my flat as this would cover the monthly pay in requirement. Thinking it might just be easier to open a new RBS current account, switch my current one to Santander and then upgrade the new RBS one to Rewards and switch back 2 x DD and provide the tenants the new details.

colsten

I think you are overthinking things, and seeing dangers where there aren't any. In the time it took you to write these posts, you could have moved one, if not two DDs.

abz88

Probably right colsten, was hoping the partial switch would be an easy option, but probably as easy to get off my backside and switch DD's myself...

born_again

abz88 wrote: »

Unlike a full switch there are no gaurantees if it goes wrong, so if a DD doesn't switch over properly, is paid late due to switch etc then I am liable for fines/fees and not the bank as is the case with a full switch. Unlike a full switch that has a guaranteed time limit of 7 days, there's isn't one for a partial switch, so unclear how long it is. So if the process is likely to cause some issues, I'll likely avoid it.

Sorry but you have not answered the question over the worry of a full switch and the closure of your account?
Which is how your OP reads.
Not that you were worried of the partial switch.

abz88

born_again wrote: »

Sorry but you have not answered the question over the worry of a full switch and the closure of your account?
Which is how your OP reads.
Not that you were worried of the partial switch.

It wasn't meant to read that way, hence why I only mentioned being wary of it once. Its by far the longest account I have so helps credit report and anyone paying me money would send to that account unless I told them otherwise. Although under CASS payments are forwarded, it only applies for 36 months (seems like a long time, but I don't think it is). That and I have never been with Santander, so I don't see the point doing a fulls switch to a bank I might not like dealing with. Plus I have to renew my RBS mortgage later this year and it was a pain in the backside to deal with them last time around without having to send them accounts from another bank for them to trawl through.

born_again

Forget credit report, that number means nothing to banks and they do not see it.
It is your credit History that counts. As well as all banks have their own internal scoring on any borrowing.

Also CASS will mean that any funds sent to old closed account would be forwarded to new account. If someone has not sent you money in 36 months, then will they ever?

For 3 years after the Switch Date, or longer in accordance with clause 1.14 of the Customer Agreement

Which means it maybe longer.

As to not liking santander. If that is the case then you just switch away.

Can't really see the point of partial switch. As DD's won't take much to updating companies. S/O can just be set up again.

You could always open a 2nd RBS account, if you want to keep a account with them.

YorkshireBoy

born_again wrote: »

Forget credit report, that number means nothing to banks and they do not see it.
It is your credit History that counts. As well as all banks have their own internal scoring on any borrowing.

No mention of numbers or scores was made. The poster is referring to 'time with bank', and that data is most definitely seen by lenders when they search your file.