Skip to main content

What should I do with my automatic payments when switching banks?

What should I do with my automatic payments when switching banks?

Find Help

More Items From Ergsy search


Understand Your Current Automatic Payments

Before switching banks, identify all your existing automatic payments. These typically include direct debits, standing orders, and recurring card payments.

Review recent bank statements or use online banking tools to list all regular outgoing payments. This will help ensure no payment is missed post-switch.

Notify Companies of Your Bank Switch

Inform companies that collect regular payments about your new bank details. These might include utility providers, subscription services, and insurance companies.

Most companies in the UK allow you to update your bank information online. Check their websites or contact their customer service if needed.

Use the UK's Current Account Switch Service

The Current Account Switch Service (CASS) is designed to simplify the process of switching banks. It automatically transfers your payments for you.

Ensure your new bank offers CASS. If so, they'll manage the transfer of all direct debits, standing orders, and incoming payments within seven working days.

Double-check Standing Orders and Direct Debits

Standing orders need to be manually set up at your new bank. Make a note of all existing orders from your old account.

For direct debits, confirm with your new bank and the service provider that they have been successfully transferred. It's crucial to avoid missed payments.

Handle Recurring Card Payments

Recurring card payments tied to your old debit or credit card must be updated with your new card details. Contact the service providers directly to do this.

These payments are not covered by CASS, so act promptly to ensure continuity of services on your new account.

Monitor Your Accounts

Keep an eye on both your old and new bank accounts during the transition period. Look out for any payment issues or discrepancies.

Maintain some funds in your old account until you're confident all payments have been successfully transferred to the new account.

Confirm All Transfers Have Completed

Once you've switched banks, verify that all automatic payments are functioning correctly. Reach out to your new bank for any clarifications needed.

If there are any missed payments or errors, address them immediately to avoid penalties or service disruptions.

Frequently Asked Questions

What is the first step in managing automatic payments when switching banks?

The first step is to list all the automatic payments currently linked to your existing bank account.

How can I identify all my active automatic payments?

Review your bank statements for the past few months to see any automatic payments or contact your bank for a list.

Should I inform companies about changing my bank details before or after opening a new account?

It's advisable to first open your new bank account before informing companies about the change in payment details.

How do I notify my service providers about updated bank information?

You can notify service providers by contacting them directly via customer service or updating your bank details through their online portals.

Is it necessary to keep my old bank account open while updating automatic payments?

Yes, it's best to keep the old account open until all payments are successfully transferred to ensure you don't miss any transactions.

What should I do if I miss an automatic payment during the bank switch?

Contact the company involved immediately to arrange a one-time payment and update them with the new bank details.

Can I use bank switch services to transfer automatic payments?

Yes, many banks offer switch services that can help transfer automatic payments; check if your new bank offers this service.

How long should I allow for the transfer of automatic payments during a bank switch?

Allow at least one to two billing cycles for all payments to be successfully transferred.

Should I set up automatic payment notifications with my new bank?

Yes, setting up notifications can help prevent missed payments and keep track of all transactions.

What documentation might I need to provide to switch automatic payments?

You may need to provide your new bank account details, such as your account number and bank routing number.

Is it possible to transfer automatic payments online without contacting customer service?

Many companies offer the option to update bank information directly through their online customer portals.

What should I do if a service provider cannot process my new bank details?

Contact the provider to resolve any issues or errors and verify that you're providing the correct information.

Can updating automatic payments affect my service credit with companies?

No, updating payment information should not affect your credit standing with companies if done promptly.

What is the best way to track which payments have been switched to the new bank?

Cross-check your monthly bank statements against the list of payments you planned to switch.

Should I close my old bank account immediately after all automatic payments are switched?

Only close it once you are certain all payments have successfully transitioned and any remaining balance has been settled.

How does switching banks affect incoming direct deposits?

Notify your employer or any income source about your new bank details to ensure direct deposits continue without disruption.

What steps should I take if a payment bounces during the bank transition?

Immediately notify the affected company, update the payment method, and check if there are any penalty fees.

Should I regularly update my automatic payments even if not switching banks?

Yes, periodically reviewing and updating your payments can help ensure account security and accuracy.

What happens to scheduled automatic payments if the old account is closed prematurely?

Payments may bounce or be returned, causing missed payment fees, so ensure all payments are migrated before closing an old account.

Can different types of automatic payments (e.g., utilities, subscriptions) be handled together during a bank switch?

Yes, you can manage all types, but ensure each type is individually confirmed with service providers to minimize errors.

Useful Links

Useful Links : What should I do with my automatic payments when switching banks?
Managing Your Money Guide

Advice on switching bank accounts and handling automatic payments
Switching to a new bank account

Citizens Advice guide on how to switch bank accounts
Bank Accounts and Switching

Age UK information on switching bank accounts and updating automatic payments
Switching Account Checklist

Which? provides a checklist for transferring bank accounts safely
Guidance on Safe Account Switching

StepChange outlines key steps in managing your automatic payments when switching banks
Important Information On Using This Service


This website offers general information and is not a substitute for professional advice. Always seek guidance from qualified professionals. If you have any medical concerns or need urgent help, contact a healthcare professional or emergency services immediately.

  • Ergsy carfully checks the information in the videos we provide here.
  • Videos shown by Youtube after a video has completed, have NOT been reviewed by ERGSY.
  • To view, click the arrow in centre of video.
Using Subtitles and Closed Captions
  • Most of the videos you find here will have subtitles and/or closed captions available.
  • You may need to turn these on, and choose your preferred language.
Turn Captions On or Off
  • Go to the video you'd like to watch.
  • If closed captions (CC) are available, settings will be visible on the bottom right of the video player.
  • To turn on Captions, click settings .
  • To turn off Captions, click settings again.

More Items From Ergsy search