Smartsave not letting me change my bank account

RussWWFC

On 13th November last year, I opened a year fixed saver with Smartsave, nominating my old bank account as my link account.

But in August, I changed my bank account from Halifax to Firest Direct. Every other organisation has been OK to deal with but Smartsave are not letting me change my linked account. Their replay when I got in touch was...

Hi 

 

As a digital bank, we use an online tool, and information provided by Credit Reference Agencies (CRAs), to check that your bank account is registered to your name and address. This helps us confirm your identity and protect against fraud and money laundering.

When changing your nominated current account details, it’s important you check that:

• Your bank details are correct
• The bank account is registered in your name and current address
• Your bank accepts faster payments

If we can’t match your account details, we’ll always give you the opportunity to try again using the same information or a different bank account.
 
Although some companies offer alternative ways of verifying details such as bank statements, we’ve made the conscious choice to continue verifying our customer’s details 100% online. This helps us keep costs low so that we can offer the best rates for our customers and provide a better way to save for the majority of our customers. 

This also means, however, that if your bank account hasn’t been shared with CRAs just yet, we won’t be able to successfully verify your details online and help you open a savings account. This issue impacts a number of different bank accounts; partly because the industry standard for current account details to be shared with CRAs was only introduced from around 1998. 
 
Our digital approach allows our customers to manage their savings account completely online, allowing us to keep costs low so that we can continue to offer the best rates possible. This does mean, however, that some customers won’t be able to change the details we currently have saved for you, depending on who they bank with, as we mention above.
 
This can sometimes be resolved by speaking to your bank directly and giving your consent for them to share your bank account information with CRAs.

If we can’t verify your account then we won’t be able to use it to return any savings at the end of your fixed term.

The good news is that we'll continue to hold the details of your existing nominated current account and return your savings balance there, if your bank details don’t change.

 

Thanks
 

Kieran

SmartSave

My question is if I am still unable to change my bank account by 13th November, will my old bank account details be still linked to my new one or will that have long expired? If not, and Smartsave are uncooperative, is there a financial ombudsman I can go to to get my money back.

Thanks

Peter999_2

Did you use the switching service to move banks?   If so, the new bank "should" contact the old one and update the sort code and account to the new bank.

Bigwheels1111

I use FD to fund or receive funds, Never to switch the account.
Have lots of other accounts to switch with.

RussWWFC

Still showing as my old Halifax details on the Smartsave page. Guess I'll have to wait until November to see what happens.