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Changing banks...standing orders?

5 replies

SushiShopSearch · 25/03/2022 09:42

So fed up of Virgin Banking (unable to talk to anyone and their phone app keeps failing) so I'm thinking of changing.

I receive some monies on a regular basis by way of standing orders from people. Is this automatically re-arranged by the new bank or do I have to go to the people myself and get them to change?

OP posts:
MrsWidgerysLodger · 25/03/2022 09:44

I think the new switch guarantee stuff moves all direct debits and standing orders for you.

BritInUS1 · 25/03/2022 09:57

If they are standing orders you RECEIVE, you will need to arrange them yourself

BarbaraofSeville · 25/03/2022 10:38

It's a good idea to tell anyone who sends you money by SO that you have a new bank account, but the payment will be automatically transferred for 3 years so no worry of money getting lost in the short term.

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BarbaraofSeville · 25/03/2022 10:39

Otherwise, the switching service is pretty seamless, I've done it a few times and never had any issues. It's also not that new, I think it's been going for about 5-10 years?

OP, have a look on Moneysaving Expert to see which bank will pay you £100-150 to switch to them.

SushiShopSearch · 25/03/2022 10:47

Thanks all. That's me decided. Now just need to decide on which bank (one that I can visit, one that will answer phone calls, one that supports women)

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