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Switching bank accounts and income support?
Freebyman
Posts: 593 Forumite
Really want to change bank accounts, long story short Nationwide have really given me bad service over the past year so I was wondering if its possible if you are on Income Support and Carers Allowance (Im caring for a disabled wife) to change current accounts with the new switch service? Or would I need to do it the old fashioned way and tell each direct debit and payer my new details?
Old Faithful we roam the range together,
Old Faithful in any kind of weather,
When the round up days are over,
And the Boulevard’s white with clover,
For you old faithful pal of mine.
Old Faithful in any kind of weather,
When the round up days are over,
And the Boulevard’s white with clover,
For you old faithful pal of mine.
0
Comments
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Really want to change bank accounts, long story short Nationwide have really given me bad service over the past year so I was wondering if its possible if you are on Income Support and Carers Allowance (Im caring for a disabled wife) to change current accounts with the new switch service? Or would I need to do it the old fashioned way and tell each direct debit and payer my new details?
Switching current accounts is a two step process. First you have to successfully apply for a new account.
Second, you ask the new bank to switch your Nationwide account.
There is nothing to stop you switching accounts using the Current account switching service.
Some banks are notoriously choosy over who they want as customers (HSBC and First Direct spring to mind).
Did you have a particular bank account in mind?0 -
The switching service is available to anyone over 18 in the UK who wishes to move one bank account to another (provided both banks are on the scheme which most are)
Being on benefits does not prevent, however certain banks as mentioned may not want to know you.
It will be all down to the banks own credit scoring and your own credit history.
Even if you are offered a basic account you can still switch, just be careful as you may forefit future offers and incentives if you use a banks switching service to move to a basic account. Some of the incentives only apply if you are eligible for a "full" account.
Give Halifax a try and see if they can offer you a full account. If they only offer basic then either switch to them (but you could miss out on any further incentives) or try Nat West/RBS/Barclays and then try Halifax 12 months later once you've managed the account well.0 -
Thanks for your advice, I should be ok on the credit check side I hope!
As for the benefits being switched accounts I just didnt want to go through the process of ringing the DSS etc.
I can only but try.Old Faithful we roam the range together,
Old Faithful in any kind of weather,
When the round up days are over,
And the Boulevard’s white with clover,
For you old faithful pal of mine.0 -
But even switching of accounts somebanks still use the old system whereby you must do the switching yourself.You must register yourself on internet bsnking and cellphone banks.My advice is first inquire what are they offering before opening a bank account with any bank.0
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