You've done it. You've switched banks, claimed your £175 (or £250, or maybe even £750 if you went for HSBC Premier) switching bonus, and your salary's landed in your new account. Life's good.
But there's a nagging question you haven't quite sorted: what do you do with your old bank account?
You'd think banks would close it automatically after you switch. They don't. You'd think it's urgent. It's not. And you'd think keeping it open is safer. Sometimes yes, sometimes no.
This is the complete guide to what happens next.
The Account Doesn't Disappear (And That's Actually the Point)
Here's the thing that catches people off guard: when you officially switch banks using the Current Account Switch Service (CASS), your old account doesn't close. It stays open, sitting there quietly, while your new bank handles all the machinery of transferring your direct debits, standing orders, and incoming payments.
This feels wrong at first. Shouldn't it just vanish?
No. Because the real world is messier than banks like to admit.
Your old account stays open and active for a reason: the cooling-off period. During this time (typically 13 months from the switching completion date), any late-arriving payments still get redirected to your new account automatically. Direct debits that haven't yet been cancelled at source will bounce back. The system is designed to catch stragglers.
But here's where most people go wrong: they think the account is closed when actually it's monitored. It's a semantic difference that matters.
The Cooling-Off Period: Why You Can't Just Close It
The CASS cooling-off period is 13 months long. During this entire time, your old account should technically stay open, because:
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Late-arriving payments from third parties — Your employer's payroll team might still send money to your old account for months (yes, really). That old utilities company credit might take 8 weeks to process. A tax rebate might arrive with your old sort code.
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Cheques take forever — If anyone ever sends you a cheque written to your old account details, it can still be deposited and take 3-5 working days to clear.
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Bounce-backs — Any direct debits that haven't transferred properly will bounce back to your old account, and the bank needs you to see that error so you can fix it.
If you close the account early, these payments don't simply redirect. They bounce. Then you're chasing money around, discovering it's lost in limbo, or worse, not finding out until you're hit with a late payment charge.
January is prime switching season at StoozeMax, which means January is also peak "oops I closed my account too soon" season.
What Can Actually Go Wrong
Let's walk through some real scenarios:
Scenario 1: The Delayed Direct Debit You switch on 15 January. The gym cancels your old membership on 20 January, but their system takes two weeks to process (it does). Meanwhile, on 1 February, they try to charge your old account a final fee. You've closed it. The charge bounces. The gym marks you as having failed a payment. This hits your credit report.
Scenario 2: The Lost Tax Rebate HMRC sends you a £600 rebate cheque in March. It's written to your old sort code and account number. But the bank that used to own that account has changed systems, closed your account, and is routing old cheques to a mystery queue. Your £600 disappears for six months.
Scenario 3: The Supplier Stuck on Old Details You switch banks, but you forget to update your energy supplier. They keep sending statements to your old address with your old account details. When they charge you in February, it bounces. But they don't notice (because their systems are ancient). You don't notice because you switched. By April, you've got a debt and a black mark.
These aren't hypothetical. They happen. Usually around February and March, after January's switching rush.
The Actual Timeline: When to Close (And When Not To)
Here's the practical guide:
Weeks 1-4 after switching: Keep your old account absolutely open. Don't touch it except to check it. This is when most misdirected payments arrive. Just monitor it passively.
Months 2-3: Still open, but you can start checking it less frequently (weekly instead of daily). Most late payments have arrived by now.
Months 4-13 (the rest of cooling-off): You can now close it if you've verified:
- All known direct debits have successfully transferred
- Your employer is definitely paying the new account (check two months of payslips)
- No unexpected payments are still arriving
- No pending cheques or transfers are in flight
After 13 months: Safe to close whenever you want. Legally, the bank can start charging you for keeping a dormant account after cooling-off ends, though many don't.
The smart move? Keep it open for 6 months. That's long enough to catch basically everything that could go wrong, but short enough that it doesn't become annoying.
What About Linked Services?
If you had a credit card, overdraft, or other services linked to your old account, these need careful handling.
Credit cards linked to your old account: These can stay on the old account indefinitely. They don't actually depend on the current account being open (your repayments go to the credit card account, not the current account). Just keep making payments by direct debit from your new account. The card itself doesn't care which account pays the bill.
Overdraft: If you had an overdraft facility, this is tied to the account. Once you've used up your overdraft (or paid it off entirely), you can close it. But if you still owe £200 on your old account's overdraft, you need to either clear it before closing or arrange with the bank to keep the account open purely to manage the overdraft.
Other services: Any savings accounts, ISAs, or investment accounts? These are separate. They don't close when your current account closes. Keep them open as long as you want.
How to Actually Close It (The Practical Steps)
When you're ready:
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Log in online and check the balance one final time. Make sure it's £0 (or the remaining overdraft amount, if applicable).
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Call the bank or visit a branch. You need to request account closure explicitly. Leaving it dormant isn't the same as closing it.
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Ask for written confirmation. Get an email or letter confirming the account is closed. Save this.
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Check one more time a week later. Sometimes there's a delay. Confirm it's actually gone from their system.
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Update any remaining services that still send statements to that account (like credit card companies) with your new address or email.
That's it. Simple, but easy to forget step 5.
Should You Keep It Open Long-Term?
Some people keep old accounts open deliberately, years after switching. Reasons vary:
- The interest rate was good (though you can't deposit more money)
- It's a backup current account (in case something goes wrong with the main one)
- Habit (they just forget it exists)
- The backup credit card (it's linked, so they keep the account)
There's no rule against it, but most banks will eventually close accounts that sit dormant for years anyway. Some will start charging you a small annual fee (typically £24-36) if the account isn't used.
The security angle is worth considering: an old account you don't check is an account that could potentially be compromised without your noticing. If the bank suffers a breach and your old account details leak, you won't catch it. That said, an old account with no money and no direct debits is a pretty low-value target.
The practical answer: Close it after 6 months, or whenever you're confident everything has resolved. Don't keep it open "just in case" if you don't actually need it.
Your Post-Switch Checklist
Before you close anything, go through this:
- All direct debits successfully transferred to new account (check bank statements for January, February, March)
- Employer is definitely paying new account (check payslips)
- No unexpected payments arriving in old account for three weeks straight
- Credit card/overdraft sorted (paid off or arrangement made)
- Cheques cleared (if any in flight)
- Insurance companies and utilities updated with new details
- Any remaining services (savings, ISAs, investment accounts) updated with new contact details
- Old debit card destroyed (cut it up; don't bin it whole)
- Account officially closed and confirmation received
Only then is it truly done.
Common Questions
Can I reopen my account after I close it? Technically yes, but the bank will treat it as a new account application. You might face credit checks and the account might not be activated immediately. It's a hassle. Better to wait the full cooling-off period.
What if my employer's system still has my old sort code? Call your employer's payroll team and ask them to update it. Don't assume they'll catch a bounced payment and fix it automatically. They often won't.
Do I need to tell the tax authorities about my account change? No, HMRC is separate from your bank account. If you change your bank, update your address with HMRC if it's different, but you don't need to notify them of account changes. Though you should update your address with any other services.
What about standing orders I set up? These should transfer automatically with CASS. But if you set up a standing order after you switched, to your new account, that's fine — it'll keep working when you eventually close the old account (because it's on the new account). If you set up a standing order to the old account by mistake, cancel it immediately.
Can I use my old account to receive one-off payments? Yes, technically. But don't. It's a recipe for confusion. Any payments should go to your new account. The old account is just for monitoring during cooling-off.
The takeaway: your old account is your safety net for three months to a year. Then it's just dead weight. Keep it open during cooling-off, check it occasionally, then close it when you're confident everything's resolved. It's boring but it's the right way.
Ready to switch? Check the live offers page to see what's available this month, or use our switching guide to walk through the process step by step.