First Direct closed my account without warning during a switch? What will happen

n1guy

So I came across the cashback offer on Monday and decided to give them a go.  Account and credit card opened instantly, I had a couple of bank accounts that I didn’t use and decided to switch them over to FD.  And in order to get the cash back I switched my current account with chase over. All good.  

I went into the app yesterday noticed couldn’t log on.  I phoned them up,  after various security checked which do seem to be over the top compared to any other banks and various back and forwards they tell me my account has been closed,  they could not give me a reason other than I must have been accepted in error.  My main concern now isn’t the FD account but the switch of my main account over, one person said yes it could go ahead and I will be left with a bank account or access to my money, the other said it won’t.

Any ideas? Chase themselves have said once initiated it can’t be stopped.  

TheBanker

Just to be clear, it's your Chase account that's been closed? This is what normally happens when you switch an account. You can ask for the old account to remain open, but generally to qualify for the cashback offers you need to let them close the old account.

If your account has been switched to First Direct, then that's where your money will go to. 

n1guy

TheBanker said:

Just to be clear, it's your Chase account that's been closed? This is what normally happens when you switch an account. You can ask for the old account to remain open, but generally to qualify for the cashback offers you need to let them close the old account.

If your account has been switched to First Direct, then that's where your money will go to. 

No,  it’s the new first direct account, but I had already initiated the switch over from chase.  They closed the FD account the day after opening 

km1500

strange what Chase said as often when I switch accounts I get a letter from my old Bank saying sorry to see you go etc but if you change your mind call us or something like that

TheBanker

Is your Chase account still open and does it still have the balance in it?

I'd suggest going into the Chase app, opening another current account and moving the balance. This won't fully solve your problem because any Direct Debits will still get moved, and any incoming credits e.g. salary will still get re-directed. But at least you'll still have an account and access to your money while you sort things out.

n1guy

TheBanker said:

Is your Chase account still open and does it still have the balance in it?

I'd suggest going into the Chase app, opening another current account and moving the balance. This won't fully solve your problem because any Direct Debits will still get moved, and any incoming credits e.g. salary will still get re-directed. But at least you'll still have an account and access to your money while you sort things out.

Yes it’s fine.  I even asked chase can they see a switch initiated they said no

km1500

good suggestion from @TheBanker

go onto the app now, open a second chase account which is super easy. the first one will get switched but it will leave you with the second one

then start switching your direct debits etc from the old one to the new one as soon as you can