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Moving your checking account

Moving your checking account? This checklist gives you tips for avoiding accidental bounced checks and other possible disruptions.

Considering changing checking accounts?

Shop around

Compare account services online or by visiting bank and credit union branches near you. Also find out if you need to make a minimum deposit and how much that would be.

Compare fees

Ask for a list of your current account’s fees. Then compare them to what you’d pay at other banks or credit unions you’re considering. Also inquire about ways to avoid fees, such as by maintaining a minimum balance or setting up direct deposit.

Consider convenience

How many ATM locations and branches are available? When are they open? Are they close to where you live, work, and shop? Does the bank or credit union offer online or mobile banking? Does it have a good customer service reputation?

Open the new account

Ask the bank or credit union what identification it accepts or requires to open the account.

Steps to take in changing your checking account

List your automatic payments and deposits

Be sure to include all the automatic deposits and withdrawals that go in and out of your old account each month.

Change direct deposit

If you have direct deposit, fill out the paperwork from your employer or other payment source to reroute your deposits to your new account.

Find out the date your direct deposits will transfer

Once you know the date of the first direct deposit, make arrangements for your automatic debits and withdrawals to be made from your new account starting after that date. Then cancel the automatic debit from your old account so that your bill is not accidentally paid twice.

Leave some money in your old account

Leave enough to cover any checks that haven’t cleared or automatic payments that haven’t taken place. This helps you avoid overdrafts, fees for dipping below your minimum balance, or having checks or debits returned.

Transfer your remaining funds

Once all direct deposits and automatic payments are coming in and out of your new account, transfer the remaining money from your old checking account. To do this, you can write a check, transfer the money electronically, or use a cashier’s check.

Close the old account

Ask for written confirmation when the old account is closed.


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