When a payment is made to a switched bank account, it will be redirected to the beneficiary's new account, from the date the old account is closed.
If the account you have sent the money to has switched, the new bank account details will be displayed on the Faster Payments Redirect Report, on the following business day.
The report provides you with sufficient information to update the beneficiary's bank details, to enable future payments to be sent directly to the new account.
You should update beneficiary details as soon as convenient. This will help to ensure that no issues are encountered from sending funds to old account details.
The report will be displayed in Statements and Reports > Faster Payment Redirect Report within online banking, on the day after the payment was sent. Please check this report regularly.
When you check the report, the following details of the payment are shown:
You should save the report or make a note of the new bank account details in order to update the beneficiary details within online banking.
You need to access the Beneficiaries option within online banking, and select the beneficiary that the change of details relates to. With the information provided on the report, you will then be able to update the beneficiary’s sort code and account number.