We have a client who is a bookkeeper and receives his income via standing order from his clients. He has a HSBC sole trader business account but will now be trading under a limited company.
The problem that he faces is that HSBC have informed him that they can only switch the direct debits and standing order payments, not the standing order receipts that he is receiving. They have told him that he will need to ask his clients to change the standing order account details on their side. This would be quite time consuming for him to monitor and chase his clients. It was quite a long process chasing up the clients to set up the original standing orders in the first place!
Has anyone else experienced this type of problem? Is there any way that these standing order receipts can be transferred to the new business bank account without each individual client having to change the details?
Thank you in advance for your help.