Posted on April 11, 2010.
The Painless Guide switching Audit The idea of trying to transfer your money automatically scheduled bill payment checks from one account to another is often enough to prevent people from changing checking accounts. It may be easier to stick to what you have, but if you want to maximize your earnings or benefit from the features offered by another bank, you should be prepared to do a little field work to move your money and all scheduled payments automatically from a checking account to another. While it may seem overwhelming at first, just follow this guide for switching virtually painless audit - and you'll be set up in no time!
Step 1: Review of statements of the previous month for automatic payment
If you have online banking with your current account, log in and view the latest transactions months. If you do not have online banking set up, get out your paper statement for the last month. Make a list of all payments are automatically deducted from your checking account (which means you do not physically write and send a check or initiate the payment yourself online).
Make another list of items that you regularly open for online payments - these are transactions that do not occur automatically, but you do not write checks for them either. You'll need to update your payment information in online accounts of these creditors, to continue making payments via this method.
Step 2: direct deposit and automatic savings transfers
Make another list of all sources of income which are directly deposited into your checking account. Typically, this would be your direct deposit payroll from your employer, but can also include alimony or other transactions for direct deposit.
If you set up automatic savings plan in your checking account, you must write the details as well, so you remember to cancel the automatic transfer of control of savings and reconfigure with your new account.
Step 3: Open the New account
Open your checking account with a deposit for new small to establish whether your funds are limited, if you have access to a considerable amount of money you can make a bigger deposit and immediately begin to implement your automatic bill payments again through this new account.
Order your checks if you use physical checks, and take note of the routing and account number of your new account. You will need this information to begin to transfer your automatic payments, direct deposits and automatic transfers to savings.
Step 4: cancel the automatic payments and transfers from savings
From the lists you created, please contact each creditor who receive their payment automatically through your checking account old. If you do not have much money in the newly opened account, simply cancel the automatic payment and inform them you will spread your next payment manually. If you were able to open your account with a good amount of money, you simply pass the details of the payment from your checking account to your old account again without interrupting the service of automatic payment plan, and avoid having to send a check in hand.
If you have an automatic savings transfer, you can choose to shut down temporarily while you are setting up the new checking account or if you have enough money in the new account already simply pass on the details New Account and start your automatic transfers to savings through the new account immediately.
Step 5: Deposit payroll direct change
Once you are sure there is more automatic payments and transfers of savings out of your old account, you can go directly deposit the wages (and other sources of income received.
