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Changing Bank Details For Tax Credits

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Just a quickie and hopefully somebody can help!

 

Any idea how long before a change of bank details with HMRC will take effect?

 

Recently changed banks and decided to leave the Tax Credits going into the old account to reduce the outstanding overdraft left on the old account. Long story but top and bottom was that Santander withdrew the entire overdraft limit all at once which would have caused financial meltdown so I was forced to get salary paid into another account. Instead of this reducing the outstanding amount, Santander have added a shed load of charges and interest and despite the Tax Credits of about £60 a month going in the balance has gone up considerably so I want the money paid where it will be of more use.

 

I have given the details to HMRC but they say that it could take 30 days to sort out. Has anybody else changed banks and how long did it take before the money started going to the right place?

 

Thanks


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Well I used to work in tax credits and basically the people you speak to on the phone HAVE to follow a call type process. Within that "CTP" there will be certain things they must tell you - they dont have the choice. One of those will be it can take up to 30 day for your bank details to change, however, they will be changed when the crappy computer system updates that night.

 

Dont worry about it will be updated quickly

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Great - thanks for the info. Been trying to phone them for a couple of weeks and either getting the 'sorry we are busy, phone back later' message, or sitting on hold for ages and having to give up. DEcided to stick it out last night and eventually spoke to somebody after about 40 minutes!


Any advice given is done so on the assumption that recipients will also take professional advice where appropriate.

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

DONATE HERE

 

If I have been helpful in any way - please feel free to click on the STAR to the left!

 

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