Will a transfer to my pre-switch account be instantaneous?

juw8e7

I forgot that I have a few payments inbound to my old bank account before I switched.

So my question is, will those payments be instantaneous or will they bounce back and the payer then have to do something i.e. chase up or call the bank etc?

Thanks.

Zanderman

Payments made to the old account will be transferred to the new one. That's a basic principle of the switch process.

See the summary here:

https://www.currentaccountswitch.co.uk/media/h1rpe0ky/currentaccountswitchguarantee.pdf

juw8e7

I know that they will, somehow, but that's not my concern. Its more a question of speed.

Zanderman

juw8e7 said:

I know that they will, somehow, but that's not my concern. Its more a question of speed.

They should be fast. 

Your post implied that you didn't know that they will transfer automatically - as you asked whether they'd bounce back and whether the payer would have to take action. 

PRAISETHESUN

My experience is that it's pretty much instant, or at least it's as fast as a normal faster payment

northwalesd

My experience echoes Praisethesun's.

eskbanker

Payments being sent to the old account won't ever actually reach it for forwarding as such, or bouncing back for that matter - they're automatically redirected to the new account via a central BACS-operated redirection engine, so they should reach the new account in the same timescale as they'd have arrived at the old one.

juw8e7

So its instantly re-routed by modern banking magic. Wonderful!

Thanks for clarification guys. Much appreciated.

blue.peter

Generally speaking, payments should come across very quickly. My experience of this matches the reports of others above. However, it does sometimes go awry - see, for example, this thread.