Switching FAQs

The switching process makes it easy to move your payment instructions, saved payees and account balance to a new bank.

It means you don’t have to re-establish your direct debits and automatic payments, or set up your saved payees again, when moving from one bank to another.

If you choose to close your account at your current bank, it also lets you easily move your account balance over to your new bank.

The switching process lets you move your payment instructions – including direct debits and automatic payments – and saved payees over to a new bank.

You can also move your account balance, if you choose to close your account at your current bank.

Switching doesn’t include:

• Any payments coming into your bank account, such as salary payments or direct credits. You’ll need to contact anyone making payments to you and ensure they have your new bank account details.
• Recurring card payments (including credit cards). If you’re closing your accounts at your current bank, you’ll need to set these payments up on your new card.
• Lending, overdrafts, debit or credit cards, or any other products.

Once your new bank submits the switching request, your current bank will share the information you've authorised with them within 5 business days.

From that point on, your new bank will work to meet the arrangements you’ve agreed with them.

Yes. The process is handled directly between your current and new bank, and your data is protected throughout.

Banks will never ask you for passwords, PINs, or other credentials related to any bank account you hold.‍

If you choose to close your account at your current bank, it will be closed on the switch date. Otherwise, it'll remain open.

Loans (including home loans and personal loans) and credit card lending aren’t included in the switching process. You’ll need to talk to your new bank about lending or credit card facilities.

You can’t transfer overdrafts or negative balances to your new bank. You need to pay off any outstanding balances at your current bank before your current bank account can be closed.

Recurring card payments – including debit or credit cards – are not covered by the switching process. You’ll need to update any subscription services or other recurring card payments using your new card details.

Yes. You'll get a new account number, and will need to share it with anyone making payments to you.

If you’re closing your account at your current bank, your bank account history and statements won’t be transferred over.

You’ll need to request this information from your current bank, or download it via online banking, before your account is closed.