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Banking Made Simple: Your Step by Step Checklist

If you are looking to switch banks, you may be wondering, where do you even start? You know that choosing the best bank to handle and help you with your finances is incredibly important, so switching banks can feel like a huge decision. No matter your reason for wanting to switch banks, we are here to help you through the process to ensure your finances stay safe, in line, and accounted for during your transition. To walk you through this change, here is your four step checklist for a smooth transition between banks—

Find the Best New Bank for You

Before you can start the transition, you need to decide on a new bank. Looking for a bank that has locations closer to you? More ATM options than your current bank? Fewer fees? More accessible customer service? When looking for the best new bank for you, make a list of your requirements and use this as a guideline when searching.

Make a List of Your Recurring Payments and Direct Deposits

Once you have decided on your perfect bank, your next step is to take inventory of your recurring payments and direct deposits. These may include rent, utility bills, subscriptions, paychecks, and many more. These automatic payments and deposits are attached to your bank account, and when you switch banks, your bank account number will change, and these payments will not be met. Being aware of each of your recurring payments and deposits will help you transfer these over to your new bank account with your new bank, avoiding missing your deposits and any fees or penalties associated with missing payments.

Open Your New Accounts

Once you have taken inventory of your recurring payments and direct deposits, it is time to open your new accounts at your new bank. This can most often be done through filling out forms either in person or online with your new bank using your name, address, ID, and other personal information. Your new bank will instruct you on everything you need for this. Once you’ve opened the account, you should transfer an initial deposit, then start to transfer your recurring payments and direct deposits. This may take a few months.

Close Your Old Accounts

Closing your old accounts and cutting ties with your old bank is crucial to ensure a smooth transition. However, this should not be done immediately. For a few months, it is good to keep some money in the old account to help avoid any overdraft fees. Once you have successfully transferred all of your automatic payments and deposits, you can close your accounts with your old bank. Make sure that you get a final statement from the bank, or a formal confirmation that the accounts have been closed.


Regardless of your reason for switching banks, following this checklist will help you have a smooth and successful transition. We understand that this task may seem daunting, but we are here to help you every step of the way. Our banking experts are here to offer advice, suggestions, and information for your every banking need. If you are in need of assistance during your transition between banks, feel free to contact us via phone, email, or an in-person visit to our location. Member FDIC and Equal Housing Lender