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About to Switch Your Bank? Here’s a Handy Checklist

Bank building

Are you about ready to switch your bank? Making the change is easy, but here’s a checklist to make sure you have everything covered.

Perhaps you have had enough of your bank’s fees and need a change. Or maybe a new branch is more convenient for you and switching banks will save you time and effort. One thing to note is that it is neither difficult nor time-consuming to change banks. To make it as painless as possible, just follow our handy checklist.

Step 1: Choose a Date

The strategy here in setting a date is not part of actually switching banks. Instead, it allows you to set a target to have the switch complete. This creates the proper mindset and lets you get on with your other tasks while planning for the switch to happen.

 

Step 2: Choose Your New Bank

The next task is to choose your new bank. If you have decided to switch banks out of convenience, then this is probably already done for you.  But if you are undecided just yet, take the time to do a little research. You may be looking for a bank that has cheaper fees, or one that provides more services key to your needs. Others may be looking for one that is just more conveniently located. Whatever your motivation, be sure to do plenty of research.

One thing to consider when looking for a new bank is to take a look at local credit unions. Many people have found that this is the better solution for their banking needs, but individual tastes will vary.

 Step 3: Open the Account

So, you’ve set the date and done the research. Now it’s the big day: time to actually open the new account. You should find it easy to open a new bank account with an initial deposit.

If you have decided to go with a credit union, you actually become a member and co-owner today. Who knew switching banks would be a reason to celebrate.

Step 4: Hook Everything Up

Now that you have your new account in place, you need to make sure everything is connected correctly. If you haven’t already, make sure to order new checks. And if you have any automatic debits on the old account, be sure to move them to the new one.

Finally, make sure that your online access is up and working. There may be tasks to do such as setting up payees for bill pay.  Also, you may want to see if there are bank-specific apps you need to download on your mobile device.

With a little effort, you should find that switching to a new bank is a simple and painless process.

Don’t forget:

If you’ve got an unexpected expense looming and not enough cash in your bank account to cover it, visit one of our retail stores for a short-term payday solution. Don’t let overdraft service fees derail you. We can help with a timely, manageable solution to your financial crisis.