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  • FIRST POST
    • KKcat
    • By KKcat 5th Jan 18, 3:41 PM
    • 1Posts
    • 0Thanks
    KKcat
    Possible to switch bank account if you have a loan
    • #1
    • 5th Jan 18, 3:41 PM
    Possible to switch bank account if you have a loan 5th Jan 18 at 3:41 PM
    Hello,
    I have a small loan of 1,500 with NatWest for 15 months but would like to swap to HSBC. Is it possible to switch bank account if I have a personal loan?

    Thank you.
Page 1
    • Edi81
    • By Edi81 7th Jan 18, 7:01 AM
    • 475 Posts
    • 325 Thanks
    Edi81
    • #2
    • 7th Jan 18, 7:01 AM
    • #2
    • 7th Jan 18, 7:01 AM
    Yes. They are totally separate products.
    • binaryuniverse
    • By binaryuniverse 7th Jan 18, 8:49 AM
    • 686 Posts
    • 434 Thanks
    binaryuniverse
    • #3
    • 7th Jan 18, 8:49 AM
    • #3
    • 7th Jan 18, 8:49 AM
    As long as the loan isn't linked to the current account, with some offer, in some way (such as you get a lower APR for being a current account holder), and that you should remain a holder for the duration, to retain that offer, it should be fine.

    As always, check the T&Cs of your loan agreement.
    • YorkshireBoy
    • By YorkshireBoy 7th Jan 18, 3:02 PM
    • 30,157 Posts
    • 18,015 Thanks
    YorkshireBoy
    • #4
    • 7th Jan 18, 3:02 PM
    • #4
    • 7th Jan 18, 3:02 PM
    How are you paying the loan? If via direct debit then you should be OK.

    However if the payment is via 'direct transfer', ie its an internal collection at Natwest, then this might not necessarily be transferred via the CASS.
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