S
StevieD
Guest
Hi and sorry if this has been asked in the past.
My problem is that a standing order (term loan) going out on a monthly basis does not always happen on the same date and as a result I'm being hit with referral/redirect fees when they take the money out earlier than expected.
I rang Open24 and they checked with Account Services whether I could cancel the standing order and let me pay the loan by EFT payment when I had the cleared funds in my account. I am roughly 5 years into a 10 year loan and have never been in arrears. I was very surprised when Account Services came back and told me I must pay a "fixed amount" off the loan on a monthly basis and so would not be able to cancel the standing order.
My question is - can they stop me closing my account and setting up a new account with a different bank and paying the loan from the new account on my terms - not theirs?
Thanks in advance
My problem is that a standing order (term loan) going out on a monthly basis does not always happen on the same date and as a result I'm being hit with referral/redirect fees when they take the money out earlier than expected.
I rang Open24 and they checked with Account Services whether I could cancel the standing order and let me pay the loan by EFT payment when I had the cleared funds in my account. I am roughly 5 years into a 10 year loan and have never been in arrears. I was very surprised when Account Services came back and told me I must pay a "fixed amount" off the loan on a monthly basis and so would not be able to cancel the standing order.
My question is - can they stop me closing my account and setting up a new account with a different bank and paying the loan from the new account on my terms - not theirs?
Thanks in advance