Switching banks can seem like a daunting task. Where do you start? Who do you contact first? Will your current bank make it difficult to leave? We’ve put together some tips and tricks below to help you get started—and show you it’s not as scary as you think.
At Heritage, our job is to make switching banks as easy as possible for you. Our employees will be here for you during the entire process, from helping open your new account to answering any questions you may have along the way.
The first step is to open your new account. We suggest visiting us in person at your local branch so we can determine the best account for your needs. But you can also open an account online at any time.
Opening a new account can take 30 minutes or longer, depending on how many services you choose. All we need to get started is a valid piece of ID and some personal information. If you sign up for any of our checking accounts, you will also need to provide the $100 minimum opening deposit.
Next, begin moving funds from one account to the other. If it’s a smaller amount, you can simply withdraw cash (making sure your bank doesn’t require a minimum balance). If it’s a larger amount, you can request a cashier’s check from your current bank.
But you don’t want to move all of your money at once. Keep your old account open and funded enough to allow outstanding checks and automatic withdrawals to clear.
Next, determine all of your direct deposits and automatic withdrawals/payments. You’ll need to contact each of these companies directly to update your account number. And we can help! Bring all the information into the branch and we’ll walk you through making this change.
Direct deposits usually come from:
- Your employer
- Retirement account
- Government agency
Automatic withdrawals/payments include:
- Gym membership
- Magazine subscription
Once you’re sure all of your direct deposits, automatic withdrawals, and checks are complete, you can close your old account.
Have questions? Read the FAQs below.
The same day! Debit cards are printed right here in the branch.
As soon as there’s money in your account, you can use your debit card.
No! This is an age-old myth. Switching banks will not affect your credit score.
Category: How To
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