Vanguard keeps cancelling my direct debits when I switch bank?

maz_hartley

Vanguard seem to cancel my 2 direct debits whenever switch bank and as a result I have to set up a 2 new direct debits. But looking at the direct debits in my new bank account I see 4 Vanguard dd’s. Obviously 2 that have switched over and 2 new dd’s I’ve had to set up. This is rather annoying and I can’t use the redirected dd’s as they’ve been cancelled. I’ve sometimes not noticed and not changed bank details so have missed some payments. Has anyone else had issues like this with vanguard or any other company?

ZeroSum

The post office did this with their savings accounts when they used to accept DD's

born_again

Some banks will only show DD once a payment is taken.

You would need to ask Vanguard why they are cancelling.

TheBanker

I can't remember how I set up my Vanguard Direct Debits, but do they ask for/check proof of account ownership when it's set up, to ensure funds that are being collected are actually yours? They could be cancelling the transferred DD because they've not carried out any checks on the new account. Because the money is being invested, and may be subject to tax relief if in a pension, maybe they have decided to be a bit more cautious than other DD collectors?

The OP's post implies that they are regularly switching account, presumably to claim incentives from the banks. If you're switching your main current account, you may have to live with this. If you're switching a second account purely for incentives, then maybe move the Vanguard DDs to your main account and set up DDs with someone else if needed as part of the switching incentive criteria. 

PloughmansLunch

TheBanker said:

I can't remember how I set up my Vanguard Direct Debits, but do they ask for/check proof of account ownership when it's set up, to ensure funds that are being collected are actually yours? They could be cancelling the transferred DD because they've not carried out any checks on the new account. Because the money is being invested, and may be subject to tax relief if in a pension, maybe they have decided to be a bit more cautious than other DD collectors?

The OP's post implies that they are regularly switching account, presumably to claim incentives from the banks. If you're switching your main current account, you may have to live with this. If you're switching a second account purely for incentives, then maybe move the Vanguard DDs to your main account and set up DDs with someone else if needed as part of the switching incentive criteria. 

This first paragraph is key - under 'My Profile' in Vanguard you have a sole linked bank account which needs to reflect where the DD's are pulled from. If it still has the old account you'll need to remove it and add the new details, along with (I think) sending a statement to CS to confirm ownership.