Transferring Banks

M

maro

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I have recently switched from UB to NIB. UB have closed my account and closed my internet access, however the switch does not seem to be fully complete. I don't know if my dd's/so's have been paid that were due at the start of the month, NIB told me there is an undertaking between banks to pay these, but there was a huge delay in the whole thing and so the switch only took place over Christmas, worst time possible. I know/presume this will be sorted farily quickly, however my real concern is that my mortgage is due out on 7th of month and I had one other loan payment due at the end of December. If these aren't paid on time due to the inefficiencies of the banks, could this harm my credit rating. I'e never missed any payment before, so am a little worried. Does anyone know where I stand?
 
maro said:
NIB told me there is an undertaking between banks to pay these
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Presumably they are referring to the IBF's code of practice on switching accounts which is available .
 
Hi there,
I switched from BOI to NIB during the year & also experienced problems with DDs & SOs not being paid the first month I changed. Apparently, BOI are suppose to notify NIB of DDs & SOs but they didn't do that in time & hence a month was missed. Sure why would they be in any hurry to give this info when we're leaving them! All was okay but the next month do.

Rita
 
If people have problems with switching and the application of the switching code of conduct to that process then they should complain to the banks in the first instance and IFSRA if they don't get any satisfaction.
 
I have the whole process deeply unsatisfactory to be honest. My main concern as I say is that this could result in missed loan and specifically mortgage payment. I'd like to think that the banks wouldn't put this as a black mark against someone, but in my experience of dealing with them thats too much to hope for. And naturally they all blame each other when you try to pursue it.
 
So have you made your complaints (in writing preferably) to the insitution(s) in question and/or IFSRA if necessary?
 
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