read the T and Cs

lidl_1

thanks latest newsletter/email

what worries me slightly is why you do not warn people who switch bank accounts that some banks eg  (FIRST DIRECT) will or may...require 'certified' ID documents...which invariably incur costs to obtain

the requirement is hidden in the T and Cs and I would bet that most do not read all of that.

by the time you are required to produce these proofs...your old account is closed and all DDs etc are transferred

so you over a barrel

of course they might not ask for proofs....but???

blue.peter

This is just one reason why you shouldn't close your old account (or start a switch using CASS) until the new one is up and running.

northwalesd

Who decides which bit(s) of the multiple T&Cs should go in the newsletter? How big would adding lots more information into the newsletter make it?

Sorry, but if you're signing up to a new financial product, the onus is on you to read all the information supplied to ensure that product is right for you.

Zanderman

lidl_1 said:

thanks latest newsletter/email

what worries me slightly is why you do not warn people who switch bank accounts that some banks eg  (FIRST DIRECT) will or may...require 'certified' ID documents...which invariably incur costs to obtain

the requirement is hidden in the T and Cs and I would bet that most do not read all of that.

by the time you are required to produce these proofs...your old account is closed and all DDs etc are transferred

so you over a barrel

of course they might not ask for proofs....but???

Not really the case. 

The old account is closed after the new account is open and also after you start the actual switch (account opening and switching are two different processes).

If the new account isn't opened until you've produced those documents then the switch can't even start, let alone be finished. 

And, when you open the account and are asked to select a switch date (you always are asked) choose one a week or two ahead, to ensure you're happy with the new account being open and functioning before the switch.

Your old account remains untouched until the switch begins.  You are in control of when that is.

Your worry re the old account being closed prematurely is misplaced.

(As for being asked for certified ID I've opened and switched dozens of accounts in recent years and never been asked for certified ID.)

grumbler

northwalesd said:

Who decides which bit(s) of the multiple T&Cs should go in the newsletter?

Those who write it. Certified copies are extremely uncommon nowadays. This is a very important bit that people have to be warned about. 

How big would adding lots more information into the newsletter make it?

Who said lots? Also, the letter can easily direct to a more detailed article on the website. I checked and didn't find anything in the article. However, it does say "switching is quick and easy" - in the usual Martin's fashion.

eskbanker

grumbler said:
it does say "switching is quick and easy" - in the usual Martin's fashion

Switching IS quick and easy, but the separate process of opening a new account may not be, and, judging by the number of posters who confuse the two, it would perhaps be worth MSE emphasising the difference more prominently - OP is one of many who's had issues with the opening, rather than the switching....

born_again

Given they will not open a bank account until they have the proof required. The switch process will not start until the account is opened. No matter what date you request the transfer to start.

So the OP comment ".your old account is closed and all DDs etc are transferred" is not correct as the switch process can not start as there is NO account to transfer too.

lidl_1

many thanks all replies
I have NOT applied or had any problems when opening any accounts, because having read the T and Cs I make certain in advance that I am eligible and comply

I was not aware that existing account would remain open and active until ALL requirements of new bank had been met.
that does alleviate this problem

adamp87

grumbler said:

northwalesd said:

Who decides which bit(s) of the multiple T&Cs should go in the newsletter?

Those who write it. Certified copies are extremely uncommon nowadays. This is a very important bit that people have to be warned about. 

How big would adding lots more information into the newsletter make it?

Who said lots? Also, the letter can easily direct to a more detailed article on the website. I checked and didn't find anything in the article. However, it does say "switching is quick and easy" - in the usual Martin's fashion.

Have to agree above, the onus is on you when signing up to check any terms and conditions with anything in life especially financial products.

Newsletter is fine to send out what you need to do to qualify for a switch (deposit, direct debits.. etc) that’s fair. 

But even if they included tons of terms & conditions in the newsletter, the onus is still on you to double check the t&c’s before signing up regardless of a newsletter.

Zanderman

lidl_1 said:

many thanks all replies
I have NOT applied or had any problems when opening any accounts, because having read the T and Cs I make certain in advance that I am eligible and comply

I was not aware that existing account would remain open and active until ALL requirements of new bank had been met.
that does alleviate this problem

It stays open until you want it to close.  You set the date for the switch..

born_again

Zanderman said:

lidl_1 said:

many thanks all replies
I have NOT applied or had any problems when opening any accounts, because having read the T and Cs I make certain in advance that I am eligible and comply

I was not aware that existing account would remain open and active until ALL requirements of new bank had been met.
that does alleviate this problem

It stays open until you want it to close.  You set the date for the switch..

Which a bank can/will override if they want further ID details to open the account.