Current Account - Partial Switch


(Oliver strong) #1

Today was the day I decided to switch my direct debits over to Monzo and take another step towards a complete switch over.

Within a couple of hours Monzo had responded and provided a list of Direct Debits to select to transfer over. Once completed I feel a prompt from Monzo to automatically setup a standing order to cover those Direct Debits would be of benefit.

With all the talk about going that extra mile for the customer this would go towards making sure people pay the direct debits and don’t incur charges.

Discuss Monzonauts…


(James Smith) #2

Why would you need a standing order? Who will you be paying from your Monzo account?


#3

I imagine the thinking is that if you’ve moved the debits over then you know you need money to cover it.

And the people who get their wages paid in don’t need to set up a standing order to cover them

Be careful with the partial switch, it tells the companies to change your details and cancel with your old bank, but there is no redirect if they don’t bother changing the details on their systems


(Oliver strong) #4

Slightly different way, Monzo could prompt to set up a direct debit to take the money from your old account to your monzo account to cover the payments?


#5

I’m sure they could, but to play “bad Monzo*”, why would they when they’d probably prefer you to just go #fullMonzo :rocket:**?

*there is not really such a thing as a bad Monzo
**:rocket: emoji mandatory following #fullMonzo


#6

Hey all!

So, I also decided that it’s time to move. I’ve initiated a partial switch, as I want to keep my old current account as a backup.

I have selected all the payments that I want to move and my feed was instantly flooded with Direct Debit setup notifications. All good.

However, I have noted the following and I am a bit confused as to what happens next:

  • the ‘in progress’ item for the switch in the feed is still present, like the switch is pending
  • the Direct Debits setup have slightly different reference numbers. Usually, missing some characters at the end. So for example a DD with Bulb is missing the ‘-BULB’ at the end, and another one with EE is missing a few numbers.
  • Direct Debits and Standing Orders have not been deleted in my old current account
  • Standing Orders appear to be correct and active, so I think I should delete them from my old current account. Especially the rent that is coming up and is quite the payment…
  • companies that I have set up Direct Debits with and I have selected to move over to Monzo still display the old details. I wonder if I need to let them know…

It’s a bit strange, because I can’t find information for the above anywhere else.

Many thanks :slight_smile:


(Andy) #7

Partial Switch doesn’t use a lot of the functionality of the Full Switch service so you may see quirks. With the partial switch you’re relying on the merchant to update the direct debit details.

See the below post which might help explain the issues better:


#8

That’s useful to know. Thanks @glasgow. It does answer some of my questions, but not all.
Additionally, it would be nice if we have any time frames for full completion of such switches.


(Andy) #9

Partial switches don’t get completion dates so it’s just completed when it’s completed by your outgoing bank.

You can see more information on the differences between the services here:

https://www.bacs.co.uk/services/accountswitchingservice/pages/accountswitchingservice.aspx


#11

How do I set up a partial switch? I can’t seem to find any option in the app to do this.

Under my profile there is a setting entitled “Switch to Monzo”. If I tap on that I get an info screen with only two options ‘Cancel’ or ‘Continue’. If I click on ‘Continue’ I get to another info screen. Again, the options are ‘Cancel’ or ‘Continue’. If I then click on ‘Continue’ I get to a screen where the options are ‘<’, ‘Learn more’ or ‘Start Full Switch’.

Where is the option to start a partial switch?

Any help would be greatly appreciated.


(MikeF) #12

I’m not sure that you can at the moment. There have been some issues with them I think and as they’re not guaranteed in any way I suspect Monzo may have stepped away from offering them.


(Jack) #13

I wonder if it’s possible by contacting In app support? Maybe they can initiate it from their end :thinking:

I believe they are trialing removing the option due to reasons specified above.


(Simon B) #14

Sorry about the confusion here.

We’ve decided to only offer full current account switches now.

We previously offered partial switches but these occasionally proved to be unreliable for our customers. With partial switches there is a reliance on merchants to update the payment details before Direct Debits are taken, occasionally they did not do so which meant some customers had unpaid Direct Debits through no fault of their own, and got charged fees for these.

You can still make a full account switch, this will move all your money and payments to Monzo, and close down your old account in 7 days. Full switches are much more reliable as payments are centrally redirected, and you’re also covered by the Current Account Switch Service Guarantee so if anything does go wrong you won’t be liable for missed payments.

If you don’t wish to switch your whole account, we’d recommend manually moving individual payments instead. You can do so by contacting each merchant for Direct Debits or by visiting the Payments tab for standing orders.


(Excited about Christmas) #15

Excellent. Always thought partial were a recipe for hassle.


(Andy) #16

Thanks for this @simonb I was sure that this had already happened but couldn’t find an official post on it! :muscle:t2:


#17

I did a manual switch, and it was significantly less hassle than I thought it would be.

14 DD’s took little more than an hour - The worst was speaking to Nationwide :joy:


(MikeF) #18

Yes, it was my NW mortgage that gave me the most panic when I did it, partly the size of it (and so potential impact of a mistake) and partly the conversation where the person on the other end was explaining that she’d never done this before…


#19

Yeah, for me it was 2 things.

  1. Spending 30 mins on hold.
  2. We have 2 mortgages… they only moved 1 of them :see_no_evil:

Luckily I left money in the Nationwide account because I half expected someone to mess up somewhere - I didn’t expect it to be the 1 bank I needed to call :joy:


#20

How do you partially switch?? Only option seems to be full?


(Andy) #21

Partial switch has been removed. See above post.