Bank accounts

[picklepants]

I've opened a new bank account but not sure when to have my wages paid in or start the process of transferring DD's over for utilities ?.

We actually haven't started the IVA process yet but we are waiting for our IP to get back to us.

We both get paid at the end of the month so i think it's too late for this month, any ideas please

[kev59]

I did mine as soon as the new account was opened

[kallis3]

Hi and welcome. If its too late for this month then do it as soon as you can. What you could do is withdraw your money as soon as it goes into the bank and then start transferring your dd's across. You can always explain to any companies that you are changing .accounts a.d that if there safe any problems you'll pay them by debit card until the new dd is et up

[kallis3]

Which company are you looking into using?

[picklepants]

Thanks think i'll try & get everything transferred across ASAP.

[dunkynuts]

Hi Picklepants

If it's too late for you to get your wages paid into new account this month I would arrange for it to happen next month as soon as you are paid this month.As for Direct Debits, once you have paid them for this month, I would ring up who they are with and get them changed to your new bank account for next month, if possible get the date they go out changed to after your first wage goes into that account to give you breathing space. Hope this is clear

[kallis3]

Let us know how things are going and please ask away on here if you need to.

[Tina Shortland]

Welcome to the forum picklepants - love the forum name!

The moving accounts and transferring DDs etc over is always a bit of a headache at the beginning but the sooner you can do it and get it sorted the better. You could manually move over your funds as Jan suggests but whatever is easiest for you.

The earlier you can get your monies secure and away from your creditors the better.

[31101932]

Give the new account details to your Payroll team tomorrow.

The more time they have to update your details the better.

I know that our salaries are only finalised two days before payment, so as long as they have at least a week you should be safe.

Another option is to ask if you can be paid by cheque this month.

This would mean another few days for the funds to appear in your new account but would mean that you knew that they were safe.

[MelanieGiles]

The sooner you get those direct debits moved, and your salary paid into the new account, the sooner it will be safe to notify creditors and get the whole process starting. Moving bank accounts can be a pain, but most of the banks will be quite helpful and will set up most of the new transactions for you. This is an important part of the process for anyone who banks with a creditor company - and is one of the first things we advise new clients to tackle.