Standing Orders are payments initiated by you from your Current Account. Direct debits are instructions where you have given service providers the authority to seek payment from your Current Account.
As part of the Switching process your old bank will then notify any company you have a direct debit with of your new bank details so they can update their records.
We would recommend that you contact service providers (i.e. Direct Debit originators) with your new Current Account number as soon as possible to ensure that the account details are changed before bills are processed, as some Direct Debit originators do not accept instructions from 3rd parties.
If you have any direct debits that originate outside of Ireland, you will have to notify these providers yourself. You will need to contact the direct debit originator and give them your new MYCU personal current account details ie.: Bank Identifier Code (BIC) and International Bank Account Number (IBAN).
Various Utility and Service Providers offer customers the option to sign up to a payment method called continuous payment. The payment method uses the customer’s debit card details rather than the customer’s account details. These payments are not direct debits and are not covered by the Switching process. It is the sole responsibility of the customer to contact their providers where they have opted for this payment method and inform them of their new account details.
Also check things like gyms, tolls, streaming services, Apple ID, which might be linked to your old debit card.
Your old bank will send your new bank a list of your standing orders and they will set these up to go from your new account, but again it is recommended that you double-check these have been set up correctly and will be paid on time.