Switching Bank Accounts

jeanniej
jeanniej Posts: 41 Forumite
in Benefits & tax credits
Looking to switch current accounts and the new bank have told me they will re-direct payments going into the new account and inform anyone making these payments of the new account details (presumably including DWP) if so am I still obliged to inform the DWP?

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  • [Deleted User]
    [Deleted User] Posts: 4,176 Forumite
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    jeanniej wrote: »
    Looking to switch current accounts and the new bank have told me they will re-direct payments going into the new account and inform anyone making these payments of the new account details (presumably including DWP) if so am I still obliged to inform the DWP?

    Yes inform them anyway or you may end up with stray payments trying to go into the old account.
    Tell everyone who pays money in and all your direct debits
  • TELLIT01
    TELLIT01 Posts: 16,454 Forumite
    First Anniversary First Post Name Dropper PPI Party Pooper
    I don't know what method the bank would use to inform DWP, but any change would require manual intervention by DWP and may not happen quickly. DWP states that it is the customer's responsibility to inform them of any change of circumstances, so don't leave it to anybody else.
  • bspm
    bspm Posts: 541 Forumite
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    jeanniej wrote: »
    Looking to switch current accounts and the new bank have told me they will re-direct payments going into the new account and inform anyone making these payments of the new account details (presumably including DWP) if so am I still obliged to inform the DWP?

    Can only speak from my experiences last year.

    I switched banks three times(cash incentives from banks etc) and never told anyone who paid in to my account (including the DWP) neither did I inform any of my payees that I was changing banks, I never had any problems and each time the new bank did it all.

    It is very easy to switch banks nowadays, not like years ago, but, if it puts your mind at rest, inform the DWP when the switch has been made, if the DWP happen to pay in to your old (closed) bank account it will automatically be transferred to your new one
  • takman
    takman Posts: 3,876 Forumite
    Combo Breaker First Post
    bspm wrote: »
    Can only speak from my experiences last year.

    I switched banks three times(cash incentives from banks etc) and never told anyone who paid in to my account (including the DWP) neither did I inform any of my payees that I was changing banks, I never had any problems and each time the new bank did it all.

    It is very easy to switch banks nowadays, not like years ago, but, if it puts your mind at rest, inform the DWP when the switch has been made, if the DWP happen to pay in to your old (closed) bank account it will automatically be transferred to your new one

    Don't forget the bank will only redirect payments for 3 years from the date of the first switch you did last year.

    So if the organisation's paying into your account never update your details then 3 years from that date you could suddenly stop receiving any payments.
  • bspm
    bspm Posts: 541 Forumite
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    takman wrote: »
    Don't forget the bank will only redirect payments for 3 years from the date of the first switch you did last year.

    So if the organisation's paying into your account never update your details then 3 years from that date you could suddenly stop receiving any payments.


    Which is why I said inform the DWP when the switch has been made..........
  • takman
    takman Posts: 3,876 Forumite
    Combo Breaker First Post
    bspm wrote: »
    Which is why I said inform the DWP when the switch has been made..........

    Yes I know but you said you have never told anyone who pays into your bank so I was making you aware that you may suddenly stop receiving payments.
  • bspm
    bspm Posts: 541 Forumite
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    takman wrote: »
    Yes I know but you said you have never told anyone who pays into your bank so I was making you aware that you may suddenly stop receiving payments.


    Understood

    I have already done that but I was answering the poster to put their mind at rest. Just didn't see the need to confuse switching of banks by the poster by having to notify any Companies paying into her account until the switch had actually been done, after all they may not even have the new bank account details yet to notify anyone.

    Any payments in to the old account, as you say, will automatically be forwarded to the new bank account for a few years, so plenty of time to tell them later on.

    Keep it simple, it pays!

    :)
  • Avocadotoast
    Avocadotoast Posts: 39 Forumite
    Hi OP, all sound advice here. In my circumstances - similar to yours - I called PIP and ESA at 8am (no queues really) and spent a few mins on each call changing my details. It takes no time at all and it safeguards you just in case things might go wrong. Belt and braces. It can be worth it. I've had no issues since. Just make sure you phone up over a week before your next payment is due otherwise it can bounce back and you may have to chase.
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