Switching Bank Accounts is a Slam Dunk
Many consumers are frustrated with large banks, especially after they proposed debit card fees that were dropped only after public outcry. However, many are still hesitant to switch banks because they think the process is too complicated. It doesn’t have to be. And working with a new banker who can help reduce costs or streamline your finances will pay off in the long run.
If you’re thinking about moving your personal checking or savings accounts to a new bank, there are five easy steps:
- Look at your options and choose your new bank carefully.
- Before you switch, organize all your banking information, such as account numbers and direct deposits.
- Open accounts at your new bank.
- Set up direct deposits, automatic payments and online bill pay.
- Leave your old accounts open for at least one month to make sure your drafts have stopped, checks have cleared and deposits to your new account are coming in correctly.