How long do DD changes in a Bank Switch take?

fly-catchers

I switched my Tesco Bank to the Nationwide last Monday. The switch included two active DD. As of today both DD are still shown as linked to the Tesco account. One of them is due next on the 9th November. I realise there is a Switching Guarantee but should I do anything in the mean time or not worry?    

Sensory

What is the switch completion date?

Regardless, the money will be debited, whether it's the Tesco account (before or on the completion date) or the Nationwide account (on or after the completion date).

RG2015

fly-catchers said:

I switched my Tesco Bank to the Nationwide last Monday. The switch included two active DD. As of today both DD are still shown as linked to the Tesco account. One of them is due next on the 9th November. I realise there is a Switching Guarantee but should I do anything in the mean time or not worry?    

I switched an account which had 6 or 7 DD mandates.  Only 1 showed up before the scheduled payment date but all were debited correctly from the new bank account on the usual due date

eskbanker

fly-catchers said:

I switched my Tesco Bank to the Nationwide last Monday. The switch included two active DD. As of today both DD are still shown as linked to the Tesco account. One of them is due next on the 9th November. I realise there is a Switching Guarantee but should I do anything in the mean time or not worry?    

You're presumably looking at the information held by the companies that are due to be collecting the DDs, so this just means that they haven't updated their records yet.  Even if they do try to call the DD from the old account, the request will be automatically redirected to the new one, so nothing to worry about....

fly-catchers

I got an email from one of the companies due it’s DD tomorrow. Saying I should check my bank details to make sure they are correct. Of course it’s still showing my old now closed account. But from your comments above I should just leave it and will be paid automatically from my new bank?

eskbanker

fly-catchers said:

I got an email from one of the companies due it’s DD tomorrow. Saying I should check my bank details to make sure they are correct. Of course it’s still showing my old now closed account. But from your comments above I should just leave it and will be paid automatically from my new bank?

I suspect that they'll only have sent that email because they've been notified of your change of bank, but you can obviously see how it plays out tomorrow and take action to rectify if for any reason the DD fails to be pulled from your new bank....

born_again

fly-catchers said:

I got an email from one of the companies due it’s DD tomorrow. Saying I should check my bank details to make sure they are correct. Of course it’s still showing my old now closed account. But from your comments above I should just leave it and will be paid automatically from my new bank?

So what date was the switch completed?

fly-catchers

I was switched just over a fortnight ago. Having never done a switch before I am unsure what to expect particularly with DDs. But am sure it will work out. 

gsmh

I've found that one or two direct debits never show the new bank details when I look at my account on the originator's website. I have also found that most companies will setup a fresh mandate, even though the existing one will work. I have switched a few times and was able to see up to four direct debit mandates lodged on my bank account as a result. It is rather too messy for me. When I tried to cancel the spurious mandates the company concerned deemed that I had cancelled the valid mandate so contacted me to set up yet another. The last time I changed accounts I did it myself so now have just one direct debit mandate for each company. I'm much happier with that.

phillw

I would recommend having all your direct debits go out on the first of the month (most companies will let you choose).

Then you can start a switch a week after your DD have gone out & have it complete at least a week before any DD need to go out.

It's also easier to check to make sure all the DD go out after the switch. No chance of a missed payment indicator if you phone them up on the day the DD was to be taken.