Business Current Account Switch Service
– Current Account Closure Instruction Form
In this agreement:
• Your ‘New Account’ is the account held with us that
you are switching to.
• Your ‘Old Account’ is the account that you are
switching from at your Old Bank.
• Your ‘Old Bank’ is the bank, building society or other
payment account provider displaying the Current
Account Switch Service Trustmark that you are
• The ‘Switch Date’ is the date that we will arrange for
any credit balance to be transferred from your Old
Account to your New Account. We will complete the
switch of information about your payment beneﬁciaries
and your regular payment mandates from your Old
Bank to your New Account on the same day. The Switch
Date must be a working day and not a bank holiday
that is observed by either your Old Bank or us.
• For the Current Account Switch Service ‘Current
Account’ means an account in pounds (GBP) held in
the name of one or more persons and used to make or
Please instruct my Old Bank that I wish to close my Old
Account because I am switching my current account to
my New Account with you.
By consenting, I/we (if more than one of us is required to
authorise this account closure instruction) understand as follows:
My Switch Date is the date my switch completes and I
will agree my Switch Date with my New Bank.
I conﬁrm that I have satisﬁed myself that my New
Account meets my needs and delivers the services
I require even though the protections, features and
beneﬁts may not be the same as my Old Account.
Unless I have outstanding debt on my Old Account,
closure of my Old Account will be eective from my
Switch Date. I understand that, whether or not I
have an outstanding debt on my Old Account, my
Old Account will not be available for use from my
Switch Date, even if I:
• decide to close my New Account; or
• change my mind about the switch.
By closing my Old Account I am withdrawing my authority
for any regular payment mandates on my Old Account (as
I am transferring this authority to my New Account).
If I make any changes to the regular payment
mandates on my Old Account or set up any new
payment beneﬁciaries on my Old Account on or after
the sixth working day before my Switch Date, I must tell
my New Bank, otherwise those changes or new regular
payments will not be implemented on my New Account.
As at my Switch Date, any beneﬁts or services
associated with, or dependent upon, my Old Account
(e.g. travel insurance or preferential rates) will terminate.
My Old Bank will retain enough funds to cover:
• transactions made on my Old Account before my
Switch Date which are still in the process of being
cleared on my Switch Date, until those transactions
have cleared; and
• debit card transactions that have already been
authorised but which have not yet been paid out of my
I must not write any cheques on my Old Account or use
the debit card for my Old Account after my Switch Date
and I will promptly destroy my old cheque book(s) and
debit card(s) for my Old Account after my Switch Date.
Any cheque that I pay into my Old Account before my
Switch Date will be cleared through my Old Account and
the cheque value will be transferred to my New Account
when it has cleared.
After my Switch Date:
• I should contact my New Bank if I want to cancel a
cheque drawn on my Old Account; and
• I may not be able to remove any existing stop
instruction on a cheque drawn on my Old Account.
If I have outstanding debt on my Old Account (including
any fees or charges) after my Switch Date, my Old Bank
will tell me.
In such circumstances:
• my Old Bank will block my Old Account and I will not
be able to carry out any further transactions on it, with
the exception of repaying the outstanding debt; and
• the terms and conditions of my Old Account will
continue to apply until I have repaid the outstanding
debt in full, at which time my Old Account will be closed.
If there is an outstanding debt on my Old Account after
my Switch Date, my Old Bank will be entitled to use any
funds or payments it receives (including by cheque) in
full, or part, settlement of the debt on my Old Account.
For a period of three years after my Switch Date, or longer
in accordance with clause 14 below, if my Old Bank
receives payments or requests for payments it will redirect
these to my New Bank (e.g. all incoming credits and Direct
Debit requests). However, my Old Bank will still have to
comply with applicable laws (for example relating to fraud,
money laundering, etc.), so in certain circumstances it may
not be permitted to do so.
In the unlikely event that payments continue to be
redirected to my New Account during the 13 months
leading up to the end of the three year redirection