Are DD’s & SO’s still honoured.

Wannabedebtfree21

When a main usage bank account is frozen are direct debits and standing order still honoured. 

For example when I submit my application, let’s say my account gets frozen by the bank on Wednesday/Thursday and there are Direct debits due on the Friday, will they be honoured. 

And.......... alternative question, if my accounts are frozen on a particular day that isn’t Friday (my usual pay day) and my weekly wage is then paid in on the Friday, does it bounce back to my employer. Or does the Official receiver take it? My employer requires at least a full week notice to update bank details, which won’t be enough time to stop my wages going in the same week my accounts are frozen. 

sourcrates

You should remove these matters from the equation by opening a new basic bank account, and transferring payments and credits to your new account, or by using cash.

This is a basic first step before you press the “send” button.

Accounts are not usually frozen for long if the OR has no interest in them, but it pays to be prepared.

luvchocolate

We seem to be getting a lot of threads about bank accounts recently. 
My BR was 9 years ago and we always advised getting your ducks in a row before applying for BR. 
This always involved opening a basic bank account and transferring wages and direct debits over...in those days there was only the Co op and Barclays who offered a basic account. 
Fortunately now there are many more. 
It's all in the planning and an extra couple of weeks to do this makes for a much more positive experience 

Wannabedebtfree21

Thanks guys, I have an existing monzo account, and recently opened a basic account with HSBC. So will ask my employer to transfer everything over to the new account on Monday. 

As I understand it, a basic account is one that doesn’t have any overdraft facility and one that doesn’t do any hard credit search’s