I have a quick query, when we switch account from 1st to 2nd bank account. Can you please let me know, the first account would be closed or not? If yes, then what about if do we need to open account again in the same bank due to any reason in future, do not we face issues later on and credit history?
@shameerahmed5881 When u switch to new account, your old /1st account will be closed, and all your balance or direct debit is transferred to your new account, And yes you can open account again let say after few weeks or months, if u want to open that bank account, There's no effect on credit history, Credit history is usually impacted when u close your bank account, which has a huge transaction history.
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I have a quick query, when we switch account from 1st to 2nd bank account. Can you please let me know, the first account would be closed or not? If yes, then what about if do we need to open account again in the same bank due to any reason in future, do not we face issues later on and credit history?
@shameerahmed5881
When u switch to new account, your old /1st account will be closed, and all your balance or direct debit is transferred to your new account,
And yes you can open account again let say after few weeks or months, if u want to open that bank account,
There's no effect on credit history,
Credit history is usually impacted when u close your bank account, which has a huge transaction history.