Current account switch guarantee.. Incoming payments?

413x

413x

413x

Caporegime
Joined
13 Jan 2010
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Location
Llaneirwg
Recently switched current account and its happening this week.
What happens if any payments are made to my old account as a bank transfer/bacs?

From what I understand they will automatically be redirected to new account for a year.
Or does the payee get a payment bounce message and it requires reissue?

I'm going through two large refund requests issued before switch completing after. So if anyone knows I'd like to know the actual process!
 
Any payments made to the old account will be forwarded to the new account. Similar is theory to how postal forwarding works when you move house.

Just make sure you check that direct debits have properly changed. Santander won't change DD details without you contacting them personally.
 
Chevalier said:
Any payments made to the old account will be forwarded to the new account. Similar is theory to how postal forwarding works when you move house.

Just make sure you check that direct debits have properly changed. Santander won't change DD details without you contacting them personally.
Click to expand...

If it's like it states (payments forwarded) I'll leave it as is worth the old electric company. I know what they are like if you ask them to change something.
I don't want the electric company to be asked to reissue it from an instruction from my old banking (if that makes sense)
 
In theory there should be a transfer team handling that, ensuring there's no need for you to intervene and everything's set up to go through. In practice, keep a note of things you're expecting to occur and chase up if they don't materialise. As Chevalier points out, there are differences in how different banks handle the switch. Keep an eye on the process.
 
The direct debits are crucial (credit cards) so I'm tempted to make the minimum payment in addition to the full payoff just to make sure it doesn't damage my credit file
 
I switched over to Santander a few months back. Haven't had to lift a finger. All done for me.

My existing HSBC credit card (paid off in full monthly) - no problem
My AMEX (same as above) - no problem either
 
I thought the whole point of these processes was so that all payments/DD type things were automatically switched with the customer not having to do anything apart from a quick check just to make sure nothings been missed.
 
tom_e said:
I thought the whole point of these processes was so that all payments/DD type things were automatically switched with the customer not having to do anything apart from a quick check just to make sure nothings been missed.
Click to expand...

Yup and that's exactly what happens. Both my and my girlfriend did it (a month apart) from different banks and no problem at all.
 
Chevalier said:
Just make sure you check that direct debits have properly changed. Santander won't change DD details without you contacting them personally.
Click to expand...

Yes they will as Santander are signatories of the Current Account Switch Service run by The Payment Council.

Are you sure you're not getting confused with recurring debit card payments, which aren't covered under the Current Account Switch Service?
 
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