Things To Keep In Mind When Switching Banks

If you’re fed up with your financial institution and are convinced it’s time to move on, it’s better to move slowly and precisely rather than rush into the move. The switch will go more smoothly if you take care to properly set yourself up for the change.

Consumerism Commentary offers a step-by-step guide to switching accounts. First, make sure you’ve got the cash to open new accounts with adequate minimum balances to avoid fees. Also, shift your spending to another account to make sure any outstanding transactions have cleared before it’s time to close the old account.

When your new account is funded and ready to roll, adjust your direct deposit information at work and update any automatic billing accounts.

It’s a good idea to re-examine every account you’ve got to see whether or not it’s linked to the checking account you’re dropping. Don’t close the old account until you’re sure you’ll no longer need it.

Bank Switch Kit and Checklist [Consumerism Commentary]