Bank Switch and Credit Card Auto Payment

seradane

Hello,

For a while I've had a current account and a credit card with the same bank. The credit card is set up to automatically pay the full balance each month. 

Recently I've taken advantage of a switch offer, and moved my current account to another bank. But the credit card stays with the old bank and I'd like to keep it for now.

I just want to check that normally the credit card auto payment will still happen, but just come out of the new bank account? I don't want to inadvertently miss a payment and end up with late fees/blank marks on my credit history. Or do I need to make sure to set this up again?

Thanks!

Band7

Bank-internal transfers will not be switched by CASS. They only transfer Direct Debits. Unless you had a Direct Debit to pay off the credit card, you need to set up a new Direct Debit for your credit card, to take the money from your new account. You can check online or in the app of your new account what Direct Debits have been set up already.

born_again

Check the new switched account & see if the DD is showing in there.
If not you will need to set one up. But be aware that it may not pick up the next payment due.

seradane

Thank you - looks like it was a direct debit and is showing in the new account so assume all is good.

badger09

Band7 said:

Bank-internal transfers will not be switched by CASS. They only transfer Direct Debits. Unless you had a Direct Debit to pay off the credit card, you need to set up a new Direct Debit for your credit card, to take the money from your new account. You can check online or in the app of your new account what Direct Debits have been set up already.

@Band7
I wasn’t aware a ‘bank internal transfer’ could be set up to pay full balance on a credit card. Do you have any examples?

Genuine question as I’m not familiar with that mechanism 😊

@ OP
I echo comment about ensuring 1st CC payment isn’t missed following a current account switch

SiliconChip

I've just checked the payment from my Nationwide FlexAccount to my Nationwide credit card and it is a DD. I suspect that many banks operate their credit card business as a separate entity from their retail bank so they are able to set up direct debits from their own accounts. Like @badger09 I'm not aware of an internal bank transfer option for automated credit card payments, but I'm willing to be corrected if anybody knows of any bank that does operate that way.

Rob5342

seradane said:

Thank you - looks like it was a direct debit and is showing in the new account so assume all is good.

Yes it should just carry on the same way now.