Follow Us: Google+
 
Bankrate.com

checking

Moving your checking account to a new bank

Banking » Moving Your Checking Account To A New Bank

Close the old checking account
Slide 5 of 5
Back
Close the old checking account

Now it's time to bid a fond (or not-so-fond) farewell to your old account. Ware recommends doing this in person, if possible. That way you'll walk away with proof your account is closed and the bank won't attempt to tack on charges later or report you to ChexSystems for unpaid items.

You'll want to be sure all checks written from the account have cleared before taking out the last of your cash, Ware says.

If your account is closed when those checks attempt to clear, they'll bounce, potentially damaging your relationship with whomever the check was written for or incurring late-payment fees.

"Everyone is inconvenienced, both the check writer and the check recipient," Ware says.

To find out whether your checks have cleared, you can compare your check register against your online statement. Alternatively, Ware says you can call the parties you wrote checks to in order to verify they've cashed them.

Switching banks tip sheet

To put the finishing touches on your checking account transition, shred all the checks and debit cards that came with your old account to prevent them from being used by identity thieves, Ware says.


Slide 5 of 5
Back

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Checking Rates



advertisement
Most Read
  1. Headlight requirements by state
  2. Nick Nolte's house for sale
  3. 8 eerie ghost towns
  4. 7 sedans for the young at heart
  5. Social Security traps to avoid
  6. 8 affordable, classic cars for retirees
  7. 10 cars for a midlife crisis
  8. 7 Social Security benefits
  9. 9 gas-only, fuel-efficient cars
  10. Top 10 states for foreclosure
Savings Overnight Averages
Product Yield +/- Last week
MMA
0.48% 0.49%
$10K MMA
0.47% 0.48%
MMA jumbo
0.61% 0.62%
Interest checking
0.51% 0.51%
Compare rates:
Don Taylorsavings
You've matured, but maybe not those savings bonds you received as a kid.
advertisement
Google Glass has the potential to help bank customers manage their money and snag deals.
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.