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changing bank accounts

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
Did a google and thesite.org came first :razz: so I thought I'd ask!

Going to change from baryclays additions to royal bank of scotland as they give you £2,750 interest free overdraft a year which might come in handy if I'm an impoverished student. But how do I handle all the direct debits and things like that?? So much of a headache :(

Comments

  • littlemissylittlemissy knit chick Posts: 9,972
    Did a google and thesite.org came first :razz: so I thought I'd ask!

    Going to change from baryclays additions to royal bank of scotland as they give you £2,750 interest free overdraft a year which might come in handy if I'm an impoverished student. But how do I handle all the direct debits and things like that?? So much of a headache :(


    :o

    They never used to give you that. The maximum used to be £2000 and that was only by the end of first year (ie year 1 - £1000, year 2 - £1250 etc etc) Make sure you double check this.

    Also, just go into the bank, ask to speak to an advisor and explain what you need to do and they will tell you. I think a lot of things are done automatically by the bank. But they will need to advise.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    .
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    When I switched my bank from Halifax to HSBC they changed over all the direct debits for me, except for Halifax had to be pricks about my loan but thats another story all together.

    Ask them wether they do an account transfer service, most of them do.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Did a google and thesite.org came first :razz: so I thought I'd ask!

    Going to change from baryclays additions to royal bank of scotland as they give you £2,750 interest free overdraft a year which might come in handy if I'm an impoverished student. But how do I handle all the direct debits and things like that?? So much of a headache :(

    RBS limit is £2,500 - it's halifax/bank of scotland which is offering £2,750.

    Luckily i'm with them already. :cool:
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Spliffie wrote:
    RBS limit is £2,500 - it's halifax/bank of scotland which is offering £2,750.

    Luckily i'm with them already. :cool:

    bank of scotland / royal bank of scotland :confused:

    seriously confusing!! I just follow instructions from Martin Lewis :yes:
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    bank of scotland / royal bank of scotland :confused:

    seriously confusing!! I just follow instructions from Martin Lewis :yes:

    The Martin Lewis account is at Halifax/Bank of Scotland (HBOS), and not Royal Bank of Scotland/NatWest (RBS).

    RBS and HBOS are two entirely separate banks.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Most banks will swop all your DD etc over for you. However if you want to close your old account, it might be a good idea to keep it open for a couple of months after the switch just in case something goes wrong, like a dd not being swapped in error. You only need to keep a hundred quid or so in there and then when everything is running smoothly transfer it over and close the account.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Kermit wrote:
    The Martin Lewis account is at Halifax/Bank of Scotland (HBOS), and not Royal Bank of Scotland/NatWest (RBS).

    RBS and HBOS are two entirely separate banks.

    Well they sound similar enough, thanks for the heads up :)
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Well coming from an Ex-Employee, Halifax will most certainly transfer your DD's etc over for your.

    I wouldnt trust my money with them ever again though, they like to thorougly fuck you over and are the worst for complaints etc. Its your funeral though! I dont think they even offer any freebies to Students either.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Generally you pay for the freebie with the T&Cs of the account. No iPod, but a huge overdraft and good post-grad terms is worth it.

    All banks will rob you blind, the best thing to do is sue them for any overdraft charges- you will almost certainly win.

    If Martin Lewis is recommending them they can't be all bad.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    You can ask them to switch your current account, which means they sort out all the headaches of changing over your direct debits and so on.
    :yes:
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    at work, just registered online :p. Fridays realllly do drag on. I've just done EVERYONES mail on the franking machine as I was that bored. Seem quite nice, though they did say I could only have the one student bank account.

    But do they actually check? I mean, they say either I need to pay in my student loan OR I need to make regular payments. Whats to stop me paying my student loan into that account, opening up one with barclays, paying regular payments into there, then bouncing them into a student account with RBS, then HSBC, etc. etc.

    I know you *used* to be able to get away with it, as many people have told me about their ridiculous amounts of overdrafts. One of the teachers at my old college still had his student interest free overdraft as they never cancelled it.
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