I've recently switched my bank account from Bank of Ireland to AIB. For years I've been hearing about how simple the switching process is so I filled in the switching form, specified a date and expected it all to run like clockwork. It didn't.
My understanding was that Bank of Ireland would send a list of direct debit details to AIB who would then ensure that the direct debit facilities were in place on the new account.
After many long conversations with AIB and Bank of Ireland it seems that Bank of Ireland terminated the existing direct debit arrangements and sent a letter to the originators telling them to contact me for new details. They do not consider it to be their responsibility to send a list to AIB although they did send a list of them to me (received a month after I filled in the switching form) and advised that I should contact each originator myself.
My understanding, based on the code of conduct for switching, is that this is the responsibility of Bank of Ireland to transfer direct debits. The specific entry from section 12 is:
12. Where the consumer has opted to keep their existing account open, in addition to the steps required at provisions 13 to 16 below, the credit institution must inform the consumer that :
a) all active direct debits and standing orders on the account will be transferred to the new account ,
My question is, does the switching code of conduct oblige the banks to transfer direct debits and if so, what are the responsibilities of each of the banks?
Thanks,
Phil
My understanding was that Bank of Ireland would send a list of direct debit details to AIB who would then ensure that the direct debit facilities were in place on the new account.
After many long conversations with AIB and Bank of Ireland it seems that Bank of Ireland terminated the existing direct debit arrangements and sent a letter to the originators telling them to contact me for new details. They do not consider it to be their responsibility to send a list to AIB although they did send a list of them to me (received a month after I filled in the switching form) and advised that I should contact each originator myself.
My understanding, based on the code of conduct for switching, is that this is the responsibility of Bank of Ireland to transfer direct debits. The specific entry from section 12 is:
12. Where the consumer has opted to keep their existing account open, in addition to the steps required at provisions 13 to 16 below, the credit institution must inform the consumer that :
a) all active direct debits and standing orders on the account will be transferred to the new account ,
My question is, does the switching code of conduct oblige the banks to transfer direct debits and if so, what are the responsibilities of each of the banks?
Thanks,
Phil