how do i transfer a direct debit to another account?
I have 2 accounts with hsbc and wanted to change a direct debit that comes out of one, to come out of the other account. Who do i have to notify? The company that takes the direct debit out or hsbc, or both? Sorry, little clueless about these things!
Personal Finance - 6 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
The Company who takes the money. And cancel the original DD with your bank yourself so no more monies can be taken out of that account. If you have on-line Banking, you should be able to do it all yourself.
Answer 2 :
Get an DD/order transfer form from the bank you wish to move to. They will send it to the other bank and organise the transfer and arrange notification of the companies.
Answer 3 :
If you were to open a new account with a different bank there are rules which make the banks cooperate to transfer the DD. All you need to do is tell the new bank about your old account and they take care of it for you. Because you have 2 existing accounts with the same bank these rules don't apply, but there is no reason why HSBC should not transfer it for you if you ask them. Alternatively, so can ask the company that takes the direct debit and give them the new details. So in answer to your question, you can ask the bank or the company. But don't ask both because they have different systems and you might confuse them or end up with 2 DDs or some other extra hassle.
Answer 4 :
The company that takes the direct debit out.
Answer 5 :
Are you in the UK? If so, contact HSBC. There is a Direct debit transfer process which they will deal with. You may not even have to contact the direct debit originators. It does take a few days for the change to happen however.
Answer 6 :
Contact the company that takes the direct debit. I believe there is no need to contact HSBC, Strings in your hand. Please make inform company & give enough time to change over.
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