More Useful Information
If you plan on switching your online services, don’t forget to:
- Retain details of all domestic and international bills and/or beneficiaries for payment online from your existing online service
- Download / retain any employee salary details from your online service for uploading to your new service
- If you are the originator of direct credits or direct debits, ensure that you download all files from your existing online services
- Business Planning/Date of Switch
It is important you plan carefully for the switch, for example to ensure you notify customers who make payments directly into your bank account(s). Think carefully about when you want to switch your bank account(s) (ie from which date). You should try to avoid days when there is a lot of activity on your account(s), for example payroll day, when direct debits are paid out, etc. This will minimise any potential risk to your business. If you require credit facilities you must agree these with us in advance, as credit facilities are not covered by the Business Banking Switching Code.
Always make sure that there are enough funds available in both your old and new accounts during the switching period, particularly if you have requested your old bank to close your old account(s) as there may be fees and charges due on it. If you have opted to keep your old account(s) open, please remember that both old and new accounts may be liable for bank charges. Both old and new accounts will be liable for Government Duty on debit cards and chequebooks used with the relevant accounts.
- Standing Orders and Direct Debits
Take note of your standing orders and direct debits and their due dates so payments are not missed in the switching process.
- Cards and Chequebooks
If you have selected to close your old account(s), avoid using your old debit cards and chequebooks once you have received your new ones. This will avoid items being re-directed from your old bank after your account(s) has been closed.