Martin Lewis Advises Netflix and Disney+ Users to Update Their Settings
Financial expert Martin Lewis recently delivered crucial advice for Netflix and Disney+ users concerning the importance of updating bank details. His insights came during a BBC podcast, where he emphasized the need for consumers to review their bank accounts and ensure that their information is current.
Importance of Updating Bank Details
Martin Lewis highlighted that individuals should not feel trapped with their current bank if they are not satisfied with the services provided. He stated, “If your bank isn’t meeting your needs, it’s wise to consider switching.” This advice is especially pertinent for users relying on automatic payments for services like Netflix and Disney+.
Switching Bank Accounts Simplified
For those concerned about the hassle of switching banks, Lewis explained that the process is streamlined through the Current Account Switch Service. This service generally takes about seven working days, equating to around ten calendar days. He reassured listeners that all direct debits and standing orders are automatically transferred.
- Old bank accounts are closed.
- Direct debits and standing orders are moved automatically.
- Payments made to the old account are redirected to the new one.
Nevertheless, Lewis advised double-checking that everything has been transferred correctly. He stated, “Trust the automated system, but verify everything yourself afterward.” This extra step helps ensure crucial payments continue without interruption.
Managing Benefit Payments
When discussing benefit payments, Lewis suggested notifying the Department for Work and Pensions (DWP) about the new account. He noted that although it is not typically required, it’s safer to ensure all payments are correctly received.
Recurring Payments: A Note of Caution
Lewis pointed out one essential detail regarding recurring payments. While most direct debits can be transferred, payments made using debit card numbers, like those for streaming services, do not automatically move. This means users of Netflix and Disney+ will need to manually update their payment information.
- Recurring payments linked to debit cards won’t transfer.
- Users must update their payment details directly with service providers.
While this task may seem inconvenient, Lewis reassured that these subscriptions are typically not urgent and can be updated without stress. He concluded with a reminder that proactive management of banking details ensures seamless service and peace of mind.
