• Account Switching Information

     

  • Switch to Silicon Valley Bank

    At Silicon Valley Bank, we do everything within our power to make switching accounts as hassle free and efficient as possible and aim to have your account fully transferred within one calendar month* 

    * Silicon Valley Bank is not a participant of the full Current Account Switch Service due to the commercial nature of our banking activities. Nonetheless, we are still committed to moving all of your direct debits and standing orders efficiently (subject to cooperation from your existing bank), keeping you updated every step of the way.


    Timeline

    Day 1

    Your new account is open. We ask your old bank for a list of all the Direct Debits and Standing Orders that you have.

    Day 1-3

    Your old bank guarantees to provide a list of your current automated payments by close of business day 3.

    Days 4

    You review this list and let us know of any amendments.

    Days 5

    We make any amendments to your list and set up your Direct Debits and Standing Orders to take effect on a date specified by you. We will advise the Direct Debit companies of your new account details and ask them to change their records.

    We have now completed all the actions.

    Welcome to Silicon Valley Bank.

     


    Frequently Asked Questions

    What is the benefit of switching my account to Silicon Valley Bank?

    • Silicon Valley Bank specialise in banking businesses from the technology, life science, cleantech, private equity and venture capital industries. Our niche sector focus has enabled us to offer our clients expertise, guidance and the kind of networking connections that only a bank with our true industry knowledge can deliver. If you switch to us, you will be welcomed into a banking community that truly understands your industry dynamics, knows how to manage risk and has the experience to help you to get to the next stage.

    How long does the switching process take from start to finish?

    We will set up your new account quickly and transfer your current Direct Debits and standing orders within one calendar month of when your switching request is received. We promise to keep you regularly informed throughout the entire transfer process. 

    What do I need to do?

    • Complete, sign and return a Silicon Valley Bank account switching form.
    • Review the list of your current automated payments that we obtain from your old bank, and inform us of any amendments. 
    • You will need to make separate arrangements with us for any irregular payments or salaries, i.e. bill payments that you currently pay through your account. Our advisors will be able to assist you with this, see below for contact details. 
    • We recommend that you review your account for the first month to ensure all payments go out as usual. This will make sure that all the organisations we have contacted have responded to our requests in a timely manner. 
    • Once the process is complete, if there are any Direct Debits not appearing on your new account, you will be required to contact the companies directly, as they may not have changed their records following our request. 

    Can I use my new bank account during the transfer process?

    You can use both your new and existing bank accounts as normal during the entire switching process.

    How can I contact Silicon Valley Bank?

    If you have any questions you can contact us on 0800 023 1441 from within the UK, or  +44 (0)20 7367 7881 from overseas. Lines are open: 8:00am – 5:00pm Monday to Friday. 
  • Related Solutions
  • Contact Us

    Current Clients

    New Banking Enquiries

    • +44 (0) 20 7367 7832

    Lines are open: 8:00am - 5:00pm (GMT) Monday to Friday

    Businesses based in Ireland Irland Icon

    • +44 (0) 20 7367 7845 

    Card Enquiries
    Lost, stolen, fraud, and general enquiries

    • 0800 023 1450 from within the UK
    • +44 (0) 207 367 7899 from overseas