Changing your bank account isn’t the mammoth task it used to be. A few years ago, banks gained the ability to automatically transfer standing orders and direct debits for you, making switching much easier.
It just means your main job is to let the people know who pay money INTO your account, like your employer.
To find a better bank, you need to work out what kind of customer you are so that you find the right account for your own needs (for example if you need low overdraft rates). First Direct always come out consistently well but check the whole market by going to a comparison site like moneysupermarket.
Once you’ve switched, remember to keep the old account open for a couple of months so that you can make sure nothing has been missed.
Last updated: Thursday, 28 June 2012
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