Moving your business account to Northern - it's easy!
As part of our commitment to you, when you decide to transfer your account to Northern Bank, we'll work with you to agree dates for transferring your Business account to us. Once we receive your instructions, we will:
- arrange for standing orders and Direct Debits to be set up on your account within three working days
- contact your previous bank within two working days to arrange for the transfer of any available balance
- if necessary, and provided there are sufficient, cleared funds in your account, we will clear the balance of any overdraft with your previous bank within 2 working days
We do not insist that you take any other products if you decide to open a loan or deposit account with us.
In addition, following a request from you to move your account from Northern Bank:
- we will forward details of standing orders and Direct Debits to your new bank within two working days, and when requested/agreed cancel existing arrangements
- we will forward the balance of your account to the new bank within three working days on the basis there are no outstanding items or obligations to us
- when in credit we will close your account within three working days
- on receipt of sufficient cleared funds, we will repay your overdraft within three working days and on the following day we will close your account
- we will not levy any charges to close or transfer your account other than any outstanding interest or fees accumulated on the account (please ask for details)
- if you want to switch to another bank and you have previously held a loan with us; to help make the transfer, we will, on request, provide a standard "Credit History Report"* detailing your arrangements and account balances. We will do this within 5 working days after we receive your written instruction.
We are so committed to ensuring the smooth transfer of your account that, if we don't deliver our promise to you, we will recompense you for the inconvenience.
If you experience a delay in the transfer process then please let us know by writing to your account manager with the details in the first instance.
* "Credit History Report" means an accurate statement of a business customer's credit per-formance over the preceding most recent 12 month period (or over such lesser period as it shall have maintained a business current account with the Bank).
You can download the document here:
Moving Your Business Account With Northern – It’s Easy
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