Bank Switching: Your questions answered

I asked for your questions on bank switching... and here are the answers
LATEST SWITCH DEALS: becleverwithyourcash.com/the-...
W A T C H N E X T
Why you need to switch bank
• Why you need to switch...
Can switching hurt my credit score? • Can switching bank hur...
Latest bank account and savings news
• Why I won't put saving...
#Bankaccounts #currentaccounts #bankswitching
00:00 Will payments and wages be redirected in the future?
02:14 Do I need to pay wages into the new account?
04:40 What are the rules for my switched account?
06:06 When do Direct Debits need to be set up?
07:50 How does it impact my credit score?
12:24 What if I have bad credit?
13:46 Can I get old statements after switching?
14:30 Can I close the account after switching?
16:42 How often can you switch bank?
17:32 Do you get paid to promote bank switch deals?
MORE
S U B S C R I B E / @becleverwithyourcash
N E W S L E T T E R - becleverwithyourcash.com/news...
(You'll also get a free Quidco bonus for signing up)
T W I T T E R - / andyclevercash
I N S T A G R A M - / andyclevercash
F A C E B O O K C O M M U N I T Y - / 2661970707423383
B L O G - becleverwithyourcash.com
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.

[@hedwigwendell-crumb91]

Thank you for all this helpful information Andy. I find it curious that no one teaches this sort of important information, particularly about the impact of credit scores. They should teach these things in school.

[@wendybrown5935]

Been with my bank for 45 years, never going to change, have a fantastic relationship with them and the service is brilliant, guess I'm just lucky☺

[@itschloetsang]

Thank you for the video! I learned so much!

[@charlottet7548]

Very useful especially re: credit score. I’ve opened about 8 accounts this year and so far my credit score has remained the same. Only thing that impacted my credit score was moving house and not being on the electoral register for 18 months…

[@GCSEALevelMaths]

Congratulations on 32k sir good job.

[@kripashanthi]

I didn’t know that the payments will be forwarded forever. Thought there was a time limit. Thanks for that. I had my plum payments fail in switch as well as standing orders.

[@pjmoseley243]

I am told its very simple 1) apply to your new bank 2) my new bank will then search out all my creditors. 3) paying out all my debits .4) i need do nothing more. 5) make out my will.

[@chrisbowser]

I’d done about 8 switches now, the charity issue could be similar to one with a loan I had. It is up to the originator to change their records, not the bank. Another tip I always pay my wages into the same account which I don’t change and just pay bills from the switched account.

[@hedwigwendell-crumb91]

We don't mind if you get incentives Andy. We appreciate your advice 😉❤️

[@haseenlamha1]

Hi Andy, as always thank you so much for the content. If I had a direct debit from plum set up in my account before switching , do i need to link the new account ( that I have switched to) in plum itself or does the swutching service take care of it? I dont want to make extra direct debit to plum by linking the new account myself if its not needed. Also, is there need to sign and return the switch service paper agreement that the bank sends? Please advise.

[@rhood101]

Hi Andy, thank you for the video. 03:30 I would like to know how long does the money paying in to the new account needs to stay in there for, can I transfer it out straight away or should I wait a day at least?

[@pjmoseley243]

you are too smart for my simple question

[@Ricbro85]

Andy what about overdrafts on account of switching to new account

[@Ann-bm5qg]

I think I’ll open an extra account and gradually change accounts as I would prefer my old bank account isn’t instantly closed down.

[@KishanPatel-mk7qd]

Hi Andy, can you move to a traditional banks that has a switch reward from an online bank (Starling) and still get the reward?

[@Meilleurlivreaudio]

Thanks for your video Andy like your content, I am surprised you don t speak about NEXO when you can have up to 12% on your GBP EUR OR USD ?

[@ML-jr1yz]

@Tahir can you post details how it works?

[@ElliottDay-ok6ti]

hi, would I be able to switch from staring to say NatWest to get the £200 offer? thanks

[@H80989]

Andy what do you think of the black reward credit card from natwest ? Is it worth it ? It has 84£ yearly fee. Thank you

[@rambo7135]

But I want to keep my bank.

[@spcole]

First Direct, after switching to them, said that I was eligible for a switching payment then changed their mind and said they wouldn't pay it. After the worst banking service experience I've ever had in 40 years I said that I would leave and confirmed with them that I would be eligible for the leaving payment but they never paid that either.

[@BeCleverWithYourCash]

Definitely put a complaint in

[@lothropstoddardiii6231]

i have a dispute with a medical office and they are saying i agreed to something i never agreed to and now they are saying it cannot be "undone" and it amounts to about 240$ a month for a year. Now , i agreed to doing TRT and they tried to talk me into taking another drug. i had never gotten a dose of the 2nd drug, and now they are saying it cannot be undone and i have to pay for it for a year anyways. Now i was considering telling my bank i misplaced my card, but if they have my acc# it wont matter if card # changes...so cant i in theory, open another account somewhere else with say a few bucks and then transfer the rest from old bank into the new banks account which will have a new account number that the medical office doesnt have? I am trying to avoid spending hours on phone disputing this charge and weeks to finalize it... I know the medical office wont sue me, they are straight up scammers.

[@user-ot4rj5hj6n]

Does it matter if i just opened a new account and then use it to switch straight away

[@hero0710]

Can i open a new account with one bank and use it to switch to another bank to take advantage of their "bank switch offer". How old does my account have to be to make a switch?

[@sravanisravya5684]

what to do if i don't get 150 from lloyds after switching to club?

[@ahmadthebest2266]

Don’t know if you’ll reply, but if I switch bank accounts, will my previous payee details be transferred too?

[@damiandbg]

Is there anyway to spend £500 without actually spending a penny? I can't get a credit card at the moment because I want a mortgage. Already have an account with Halifax but not the rewards. So no worries about credit search. Plus I get cashback from Chase anyway. Basically I want to pay myself £500 quid and move it back in, then repeat.

[@frankdonnelly8527]

I want to swap all my direct debits from one account to another emediatly do I have to contact all direct debits

[@t__uncensor1337]

Do you need any money in the account before you can switch it?

[@ellisblows7729]

Hi Andy, once you’ve switched away from a bank and shut the account, are you able to bank with them in the future or will they stop you making a new account?

[@mdikeee4817]

15:30

[@pjmoseley243]

you have not simply answered my simple question

[@GremothTheVampire]

Hey Andy, I'm new to bank switching and wanted to know, if I switched would my bank card from the previous bank become void? Even if I choose to switch back to that bank in the future? Many thanks. =)

[@BeCleverWithYourCash]

Hi Gremoth, yes your debit card will stop working. If you go back to that bank in the future you'll be issued with a new debit card with new details (and you'll also get a new account number too).

[@GremothTheVampire]

@@BeCleverWithYourCash Thanks so much! 🙂 Just wanted to be sure before destroying the cards.

[@martynreardon7289]

I switch from a basic santander account. Now that santander are doing a switch deal can I switch into that

[@BeCleverWithYourCash]

I’ve a separate video on the Santander offer which explains which accounts are eligible

[@michellemurray4672]

Hi, Can you switch your Spanish bank account (Bankinter) direct debits to Revolut?

[@mrdando]

Been looking into one of the online account, like chip and others but they want photo id, only current I think is blue badge will that do or can I go a different way HELP

[@OrganisedPauper]

Good question as I have no photo ID at all.

[@sachynwagjiani1173]

Pplplppppl