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experience on current account switching

  • 26-07-2011 1:03pm
    #1
    finnteme
    Registered Users, Registered Users 2 Posts: 970 ✭✭✭


    I started today the swithching process to move my current account from PTSB to Boi.

    Does this operation usually goes smoothly? There is some direct debits involved that will be moved to my new account.

    Do i need to prepare to have some cash at my wallet during the switchover process, i assume that there can be a short breakage when they transfer balances etc between accounts?


Comments

  • #2
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    I deal with people and their Direct Debits on a daily basis and i can report that im yet to hear from a single person that all their DD's were transfered without issue.

    Rather than rely on the assurances of the banks, prepare yourself by getting a mandate from each of the companies you deal with and submit it yourself once you have the account number and sort code of your new bank......and maybe have a few quid in the account to meet the payments as well:D


  • #3
    Dacelonid
    Registered Users, Registered Users 2 Posts: 1,112 ✭✭✭Dacelonid


    In my experience, no it didn't go smoothly (BOI to Ulster Bank). None of my Direct Debits were switched over and I ended up being hassled by 3 for being 3 days late with my payment.
    I would forget the switcher process and do it manually as one of the biggest problems seems to be that neither bank is willing or able to accept responsibility for making sure it happens properly. Also as soon as a problem occurs they will blame each other and you have no idea who is to blame or who can sort it out.


  • #4
    finnteme
    Registered Users, Registered Users 2 Posts: 970 ✭✭✭finnteme


    fingers crossed for me then.. i started the process yesterday, i dont think it can be stopped once initiated?


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