Direct Debits - Changing Banks

aclark
aclark Registered Posts: 10 Regular contributor ⭐ ? ⭐
Hi

I work for a company who have around 450 clients paying by Direct Debit each month. We are thinking about swapping banks and I am not sure if we will need to set up all of our existing DDs again.

I use ALBACSip to set up and process the DDs each month. When I set up the DDs, our bank details don't appear on the forms I print off.

I use BACS Payment Services along with ALBACSip, do you know if our Service user number will change or not?

Thanks in advance.

Comments

  • PGM
    PGM Registered Posts: 1,954
    I don't know about ALBACSip, but in theory it should be easier to change banks now, because they can transfer DD details. We moved banks last year, before we moved we got details of all DD's set up, so we could check these and cancel any we no longer wanted.

    Although we only deal with DD's paying out, I'm assuming it'll work in the same way with money coming in..

    It's well worth contacting prospective banks and getting them to come and see you, going through all these details.
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