If you bank account type has changed, will your debit orders bounce?

[AirWolf]

Hi

If your bank account type has change eg. from savings to cheque, while your bank account number remains unchanged, will your debit orders on the account bounce?

I have 3 debit orders on my account, and I'm not sure whether the above will be a problem, because I don't wan't them to bounce.

 

[Patty]

Play it safe. Phone your bank and confirm this. Note the reference number. If it does bounce than they will be liable for misinforming you.

 

[wishblade]

As far as I was aware, the bank transitions does any necessary adjustments automatically. The main thing is - are you obtaining a new account number? If not, then there shouldn't be anything to worry about - debit orders are linked to your account number, a change in the type of account shouldn't affect the debit order in any major way (minor adjustments are automatically accounted for and changed).

 

[AirWolf]

Play it safe. Phone your bank and confirm this. Note the reference number. If it does bounce than they will be liable for misinforming you.

Thanks, will do tomorrow.

As far as I was aware, the bank transitions does any necessary adjustments automatically. The main thing is - are you obtaining a new account number? If not, then there shouldn't be anything to worry about - debit orders are linked to your account number, a change in the type of account shouldn't affect the debit order in any major way (minor adjustments are automatically accounted for and changed).

The account number hasn't changed, just the account type has changed from savings to cheque.

 

[lws]

If the account number hasn't changed, then it shouldn't be a problem. I have an account at FNB and had the product itself changed but had no problem with money going in and out of the account.

 

[rorz0r]

There is a mechanism for the banks to provide a "redirect" when you account details change in order to update the institution doing the debit order.

 

[ic]

@AirWolf, if it is an FNB account, and the branch code is still the same, then it will be fine, don't know about any of the other banks though.

 

[AirWolf]

@AirWolf, if it is an FNB account, and the branch code is still the same, then it will be fine, don't know about any of the other banks though.

Yes, it is FNB; same account number and branch code as before.