Switching bank accounts, especially when you have numerous Direct Debits, can feel like a daunting task. However, Nationwide, like many UK banks, offers services to make this process as smooth as possible. This comprehensive guide will walk you through how to transfer Direct Debits from one account to another Nationwide, ensuring you don't miss a beat (or a bill!).
Are you ready to take control of your finances and simplify your banking? Let's get started!
A Seamless Shift: Understanding Nationwide's Direct Debit Transfer Process
Transferring your Direct Debits to a new Nationwide account or moving them from another bank to Nationwide is made simpler thanks to the Current Account Switch Service (CASS). This service, backed by the Direct Debit Guarantee, ensures a safe and efficient transfer of all your regular payments, including Direct Debits and Standing Orders.
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| How To Transfer Direct Debits From One Account To Another Nationwide |
Key Benefits of the Current Account Switch Service (CASS)
- Guaranteed Protection: If anything goes wrong with your switch, you're covered by the Direct Debit Guarantee, meaning you'll be refunded for any charges or interest incurred due to a switching error.
- Full Transfer: CASS can transfer all your incoming and outgoing payments, including Direct Debits, standing orders, and salary, and close your old account for you.
- Seven Working Days: A full switch usually takes just seven working days. You can also choose a future date for the switch to complete, up to 60 days in advance.
- No Manual Contact: The service handles contacting all your Direct Debit originators (the companies you pay) on your behalf, so you don't have to inform each one individually.
Step 1: Deciding Your Switching Strategy – Full, Partial, or Manual?
Before you dive in, consider which type of switch best suits your needs.
Sub-heading: Option A: Full Current Account Switch (Recommended)
This is the most popular and generally the easiest option for most people.
- What it does: Closes your old current account, transfers all Direct Debits and standing orders, moves any remaining balance, and redirects any incoming payments (like your salary) to your new Nationwide account.
- Benefits: You don't have to do much legwork. Nationwide and the CASS handle most of the communication and setup for you. You're fully protected by the Direct Debit Guarantee.
- Who it's for: Anyone looking for a complete change and wants to close their old account.
Sub-heading: Option B: Partial Current Account Switch
This option offers more flexibility but requires more effort on your part.
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- What it does: Moves your outgoing payments (Direct Debits and standing orders) across, but doesn't close your old account, transfer your money, or redirect incoming payments.
- Benefits: You can keep your old account open for specific purposes.
- Who it's for: If you want to gradually transition or keep your old account active for certain reasons. Be aware: you'll need to manually inform anyone who pays you of your new account details.
Sub-heading: Option C: Manual Switch
This option is typically only used if your old bank isn't part of the Current Account Switch Service.
- What it does: Involves you filling in forms and manually managing the transfer of your payments. You decide what to transfer and whether to close your old account.
- Benefits: Complete control over what is moved.
- Who it's for: A rare scenario where CASS isn't an option. Expect more administrative work.
Step 2: Initiating Your Switch with Nationwide
Once you've decided on your switching strategy, it's time to get the ball rolling!
Sub-heading: For a Full or Partial Switch
Nationwide makes this incredibly straightforward.
- Online: The simplest way is often through Nationwide's website. Look for their "Switch to Nationwide" or "Current Account Switch Service" section. You'll typically need to open a new Nationwide current account if you don't already have one, or you can switch into an existing Nationwide account.
- Nationwide Banking App: If you're an existing Nationwide customer, you might be able to initiate a switch directly through their banking app.
- In Branch: Visit your nearest Nationwide branch. A customer service advisor will be happy to guide you through the process and help you complete the necessary forms. Remember to bring identification.
- By Phone: If you're registered for telephone banking, you can call Nationwide's customer service to discuss and initiate the switch.
When applying, you'll generally be asked for:
- Your existing bank account details (account number and sort code).
- Your new Nationwide account details (if you're switching into an existing one).
- Your desired switch date (for a full switch).
Sub-heading: For a Manual Switch
If you absolutely need to perform a manual switch (e.g., if your old bank isn't part of CASS), you'll need to:
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- Obtain a "Manual Account Transfer Form" from Nationwide. This form will allow you to specify which Direct Debits and standing orders you want to transfer.
- Contact your existing bank to get a list of all your active Direct Debits and standing orders. This is crucial to ensure you don't miss any.
- Inform each Direct Debit originator (the company) of your new Nationwide account details. You'll need to provide them with your Nationwide account number and sort code. This can be time-consuming, so start early!
- Set up any new Direct Debits directly with the companies using your new Nationwide account details.
Step 3: The Waiting Game (and What Happens Next)
Once you've submitted your switch request, the process officially begins.
Sub-heading: Full Switch Timeline
For a full switch using CASS:
- Day 1 (and earlier): You initiate the switch. Nationwide communicates with your old bank.
- During the 7 working days: Your old bank and Nationwide work behind the scenes to transfer all your payments. Your Direct Debits will be moved over and set up on your new Nationwide account. Any funds in your old account will be transferred.
- Switch Date: Your old account is officially closed (if chosen), and your new Nationwide account becomes fully active for all your regular payments.
It's worth noting: Nationwide will confirm when the switch is underway and when it's completed. They'll also notify you if there are any issues.
Sub-heading: Partial and Manual Switch Timeline
- Partial Switch: The process of moving Direct Debits will typically take up to 20 working days. You'll need to manage your incoming payments yourself.
- Manual Switch: This can take significantly longer, potentially up to 60 days, as it relies on your manual efforts and the response times of individual companies.
Step 4: Verifying and Managing Your Transferred Direct Debits
After the switch date, it's essential to confirm everything has moved across correctly.
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Sub-heading: How to Check Your Direct Debits
- Nationwide Banking App: Log in to your Nationwide Banking app. You should be able to view all your active Direct Debits under a "Payments & Transfers" or "Manage Regular Payments" section.
- Nationwide Internet Bank: Similarly, log in to the Internet Bank. You'll find a section for managing Direct Debits and standing orders.
- Statements: Keep an eye on your Nationwide statements in the weeks following the switch to ensure all expected payments are being taken from your new account.
- Contact Originators (Optional but Recommended): For critical Direct Debits (e.g., mortgage, rent, essential utilities), consider briefly checking with the company a few days after your switch date to confirm they have the new details. While CASS handles this, a quick check provides extra peace of mind.
Sub-heading: Managing Your Direct Debits
- Viewing: You can always view your Direct Debits and standing orders online using either the Nationwide Banking app or Internet Bank.
- Cancelling: If you need to cancel a Direct Debit, you can typically do this through the app or Internet Bank. You can also contact Nationwide directly by phone or in branch. Always remember to also notify the organisation you're paying.
- Making Changes: If you need to change the amount or date of a Direct Debit, you'll usually need to do this directly with the organisation you're paying. Some changes (like the account it comes from for a Nationwide mortgage) can be done via Nationwide's online forms.
Step 5: Post-Switch Housekeeping
A few final steps to ensure a completely smooth transition.
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Sub-heading: Updating Other Financial Products
- Salary and Benefits: If you did a partial or manual switch, remember to inform your employer, pension provider, or benefits agency of your new Nationwide account details.
- Savings Accounts: If you have any linked savings accounts with other banks, consider updating the details if you'll be transferring money from your new Nationwide account.
- Credit Cards/Loans: If you have any automatic payments set up for credit cards or loans that weren't transferred via CASS, update those details directly with the providers.
- Online Shopping/Subscription Services: For services like Amazon, Netflix, or other online subscriptions where you've stored card details for recurring payments (these are not Direct Debits), you'll need to manually update your payment information within each service's settings with your new Nationwide debit card details. The CASS does not cover these "recurring card payments."
Sub-heading: Keep an Eye Out
For the first month or two, regularly check your new Nationwide account statements to ensure all payments are being processed correctly and no unexpected charges appear. If you spot anything amiss, contact Nationwide immediately.
10 Related FAQ Questions
Here are some frequently asked questions about transferring Direct Debits to Nationwide:
How to check if my old bank is part of the Current Account Switch Service?
You can find a list of participating banks and building societies on the Pay.UK website, which operates the Current Account Switch Service. Nationwide is a participating member.
How to find my Nationwide account number and sort code?
Your account number and sort code can be found on your debit card, bank statements, within the Nationwide Banking app, or by logging into the Nationwide Internet Bank.
How to switch if I have an overdraft on my old account?
If you have an overdraft, discuss this with Nationwide during your switch application. They will assess your eligibility for an overdraft on your new account. The outstanding balance from your old overdraft will be transferred to your new account.
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How to ensure my salary is paid into my new Nationwide account?
If you use the Full Current Account Switch Service, your employer will be automatically notified. If you do a partial or manual switch, you'll need to inform your employer of your new Nationwide account details yourself.
How to deal with recurring card payments, not Direct Debits?
Recurring card payments (also known as Continuous Payment Authorities) are not covered by the Current Account Switch Service. You will need to manually update your card details with each service provider (e.g., Netflix, gym memberships, insurance paid by card).
How to cancel a Direct Debit with Nationwide?
You can cancel a Direct Debit through the Nationwide Banking app, the Internet Bank, by calling Nationwide, or by visiting a branch. Remember to also inform the organization you are paying.
How to check if a Direct Debit has been set up correctly on my new account?
After the switch, log in to your Nationwide Banking app or Internet Bank and navigate to the "Manage Regular Payments" or "Direct Debits" section. You should see all transferred Direct Debits listed there.
How to get help if something goes wrong during the switch?
The Current Account Switch Service (CASS) offers a guarantee. If anything goes wrong, such as a payment being missed or an incorrect charge, contact Nationwide immediately. They are obliged to rectify the error and refund any charges or interest incurred. If you're not satisfied with their resolution, you can escalate it to the Financial Ombudsman Service.
How to switch a joint account to Nationwide?
You can switch a joint account to a new or existing Nationwide joint account. All account holders will typically need to consent to the switch.
How to know if I'm eligible for a switching incentive with Nationwide?
Nationwide sometimes offers incentives for switching to them. Check their official website or inquire during your application process for current offers and their eligibility criteria, as these can change. Usually, it involves completing a full switch and setting up a minimum number of Direct Debits.
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