I have both HSBC and Monzo personal accounts. The HSBC a/c has a number of active DDs. I want to transfer these to the Monzo a/c. Can I use the ‘Switch’ service for this? All that I read implies that the new account is just that - set up at the same time as the switch, which is not the case here.
If not, what is the best way to do this? I hope that it doesn’t involve editing each individually.
Using the CASS service to transfer the DDs to Monzo will result in the HSBC account being closed.
Unfortunately if you want to move them, and you don’t want to close your HSBC account, then you will need to do this manually.
TBH I have had to do this previously and with many companies changing the bank account is a breeze, not quite the chore you imagine it to be. Of course, there’s always one!
Thanks for the speedy reply. So I can use the Switch service with my existing Monzo account, not just with a newly opened one as long as the HSBC one is then closed? That would be great.
Exactly that, Once the switch has finished with the switch service, the HSBC account will close automatically.
Yes you can use your existing account, it doesn’t matter how old your Monzo account is, you can switch any other account to it at any time
Hi, just on this topic - do you know why it’s possible to switch all DD’s and close an account but not switch them and keep the other account open?
I have this scenario too but would like to keep my other bank account open - at least until I’ve built up a little bit more time banking with Monzo. I have also been told closing my other bank account would negatively affect my credit score as I’ve banked with them for 10+ years. Appreciate any advice on it.
Just move the DD’s manually, most can be done online
Yeah i really can’t bring myself to contact the 20 or so suppliers, i’ll put that job off forever so any shortcut would be welcome
Some banks allow a partial switch, which does that, but monzo isn’t one of them.