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    • ryan121
    • By ryan121 6th Jan 18, 1:14 PM
    • 143Posts
    • 47Thanks
    ryan121
    Outstanding debt when switching bank accounts
    • #1
    • 6th Jan 18, 1:14 PM
    Outstanding debt when switching bank accounts 6th Jan 18 at 1:14 PM
    I'm switching to a different bank on the 10th but I have a fee for an overdraft coming out on the 13th. Does anyone know what happens in this situation? Obviously, I will pay it straight away but I don't want any damage to my credit rating.

    I have paid off the overdraft so the fee is only £2 but I also have a monthly fee of £1 as I have a 123 lite account with santander.

    Reading the current account switch guarantee it just says if you have any outstanding fees your old bank will tell you but I presume closing a bank account with outstanding fees isn't going to be good for your credit rating.
Page 1
    • enthusiasticsaver
    • By enthusiasticsaver 6th Jan 18, 1:17 PM
    • 6,608 Posts
    • 13,855 Thanks
    enthusiasticsaver
    • #2
    • 6th Jan 18, 1:17 PM
    • #2
    • 6th Jan 18, 1:17 PM
    I would have thought the fees would have been taken on closure but to be sure why not give Santander a ring and double check?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • jonesMUFCforever
    • By jonesMUFCforever 6th Jan 18, 1:25 PM
    • 24,869 Posts
    • 12,055 Thanks
    jonesMUFCforever
    • #3
    • 6th Jan 18, 1:25 PM
    • #3
    • 6th Jan 18, 1:25 PM
    Any charges due on date of closure will be debited prior to balance being sent over to new bank.
    What goes around - comes around
    give lots and you will always receive lots
    • ryan121
    • By ryan121 6th Jan 18, 1:32 PM
    • 143 Posts
    • 47 Thanks
    ryan121
    • #4
    • 6th Jan 18, 1:32 PM
    • #4
    • 6th Jan 18, 1:32 PM
    Yeah, that's what I thought, they would just take anything they are owed from my balance before they transfer it to my new account.

    I will just wait to Wednesday and see what happens. Just thought someone might have gone through the same thing and wanted to know what happened to them.
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