Help & Tips

Why should I switch my account?

People often don’t think about changing their current account, but by shopping around, just as you would for a credit card or car insurance, you could get a much better deal. Are you finding you pay a lot in overdraft fees, or do you have a balance just sitting there and not earning any interest? Loyalty often doesn’t pay!

How do I switch my account?

People often think that switching their current account will be difficult and time-consuming, but actually this isn’t the case. When you’ve chosen the account you want, apply for the account and tell your new provider you want to switch accounts from your old bank– this can all be done online through Confused.com. You’ll need to provide proof of identity and address before the new account can be opened. Most providers operate a ‘switching service’, where you provide the details of your old account and they’ll do the rest, including switching your direct debits. Then, once you’ve received your new account details, all you need to do is redirect any payments to your new account- from your employer, for example, and don’t forget any regular payments from any cards linked to the account. Your new bank will send by post everything you’ll need to manage your account.

How do I know what kind of account I need?

This really depends on how you manage your money and you should think carefully before making your selection.

• Are you always in credit? Earn interest with a high interest account.
• Do you ever go overdrawn? An overdraft account could be for you.
• Want to get a little more out of your account? Take a look at packaged accounts.
• Poor or no credit rating? Start out with a basic bank account.
• Are you a student? A student account could be just what you need.

What do I do if it all goes wrong?

Switching accounts should be straightforward, but if you need to make a complaint about a financial service provider, your first step is to contact the institution directly to give them a chance to resolve it. They should provide you with a copy of their complaints procedure, which will also set out deadlines for them to respond to your complaint. After going through their complaints procedure, if you’re still not happy with their final response you can ask to take your case to the Financial Services Ombudsman.

How can I manage my account?

Most banks now allow you to manage your account online. Many also offer telephone banking, and, depending on the account you choose, some banks have branches all over the country.