UK Switch Account – why to switch to us?

  • 24/7 online and mobile banking
  • A current account with multi-currency debit card
  • Your finances easily managed with a variety of cash management tools including cash pooling and balance level notifications
  • Instant cross border transfer between your own accounts with different currencies
  • Multi user account functionality

Key Benefits

The Current Account Switch Service is the stress-free way for customers to switch current accounts from one bank or building society to another. Backed by the Current Account Switch Guarantee, the service aims to increase competition on the high street and support new banks in the current account marketplace. You will find the main benefits below:

Switch on your terms

With the Current Account Switch Service you can choose a switch date that suits you. Just make sure you allow a minimum of seven working days in order for us to process your request.

Simple and stress-free

ipagoo as the new account provider transfers any existing balance and all existing payment arrangements for you – including those going out (for example Direct Debits and standing orders), those coming in (for example your salary) and any payees you already have set up.

Payments are automatically redirected

Any regular payments made to or requested from your old account will be automatically redirected to your new account. We will also contact the sender and give them your new account details. That means there is no need to worry about missing payments.

Backed by a Guarantee

In the unlikely event that something goes wrong with your switch, your If any payments are accidently made to your old account after the switch date, they will be automatically redirected to your new account for the next 36 months.

Current Account Switch Guarantee

We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way.

  • The service is free to use and you can choose and agree your switch date with us.
  • We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
  • If you have money in your old account, we will transfer it to your new account on your switch date.
  • We will arrange for payments accidentally make to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
  • If there are any issue in making the switch, we will contact you before your switch date.
  • If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.

This feature will be soon available for ipagoo.

For more information go to www.currentaccountswitch.co.uk

Frequently Asked Questions

1. What is the Current Account Switch Service?

It’s a free service that lets you switch your current account from one participating bank or building society to another. It has been designed to be simple, reliable and hassle free and is backed by the Current Account Switch Guarantee.

2. Can I switch my account on a date that suits me?

Yes, you can select and agree a date with your new bank or building society and the process will start six working days before that date (Working days are Monday to Friday excluding bank and public holidays).

3. What happens to payments that people send to my old account?

The Current Account Switch Service will redirect payments to your new ipagoo account. Each time an electronic payment is redirected an automatic message is sent back to the originator advising them of the new account details so they can update their records. Some organisations may contact you directly to confirm your details have changed.

4. What happens if there is a mistake or unnecessary delay in the current account switching process?

The Current Account Switch Service is backed by the Current Account Switch Guarantee. This guarantees that any charges or interest incurred on your old or new account, as a result of a failure in the switching process will be refunded when you bring this to your new bank or building society’s attention.

5. Can I switch my current account if I am overdrawn?

You will need to make separate arrangements to pay what you owe in any overdraft with your old bank first as unfortunately ipagoo do not offer
overdrafts.

6. Will switching my current account affect my credit rating?

No, providing you repay any outstanding overdrafts on your previous accounts as required by your old bank, building society or other payment account provider.

7. What if I change my mind?

You can cancel the switch up to seven days before your switch completion date. After that only certain elements can be cancelled. We can guide you through this process if you decide to cancel your switch.

8. How will I know when my switch is complete?

Easy, we will email or text you to confirm all is complete.

9. Can I switch a joint account?

Yes, as long as both parties agree to the switch and you are switching to another joint account. It is not possible to use the service to switch a joint account to a sole account.

10. When will the money in my old account be transferred to my new account?

You will be able to access the funds in your old account up to your switch date. On your switch date, they will be transferred to your ipagoo account.

11. Can I still use my old debit card?

Your new ipagoo card will work as soon as it has been activated by you. If you want to keep using the card for your old bank account you can do so up to your switch date, after which it wont work. We will work with your old bank to make sure all transactions are paid.

12. Do I have to close my old account?

Your old bank will close your old account as part of the switching process. This ensures that any payments made to your old account are automatically redirected to your new account.