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Martin Lewis urges people to notify the DWP after changing bank account
Summary
Martin Lewis said benefit claimants should check their bank details when switching accounts and explained that the Current Account Switch Service moves most payments but does not transfer recurring payments set up with a debit card number.
Content
Martin Lewis discussed bank account switching on his BBC podcast and urged people receiving DWP benefits to make sure their bank details are correct. He contrasted standard current accounts with so-called package accounts, which often include extras but can carry a monthly fee. He explained the Current Account Switch Service usually completes in seven working days (about 10 calendar days in practice) and transfers many payments automatically. He also noted that recurring payments set up using a long debit card number do not move automatically and need separate attention.
Key points:
- Martin Lewis advised DWP benefit claimants to check and confirm their bank account details when switching.
- The Current Account Switch Service typically completes in seven working days and moves direct debits, standing orders, and forwards payments from the old account.
- Some switch offers require a full switch and closure of the old account; the article mentions examples such as Nationwide's £175 and Santander's £200 incentives.
- Recurring payments set up via a debit card number (commonly used for services like Netflix and Disney+) are not transferred by the switch and must be updated separately.
- Mr Lewis recommended checking that important payments have moved and said he would notify the DWP of a new account as an extra precaution, even though the switching service should inform payers.
Summary:
Mr Lewis' guidance highlights how the automated switching service handles most payment types but has limits that can affect recurring card payments. The points may be relevant for people receiving benefits who are switching accounts. Undetermined at this time.
