5 Tips When Changing Banks: How to Make the Switch Smooth and Easy

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Switching banks can be a bit daunting. Where do you start? How do you ensure a smooth transition? Don’t worry, we’re here to help. Here are some tips that will make the switch to your new bank as easy as pie (mmmm, pie). 

Make a list 

Once you’ve done your research, make a list of what you need from your new bank. Do you need a branch nearby? Do you need online banking? Do you need a mobile app? Write down your must-have features and keep them in mind when choosing your new bank. 

Set up your new accounts before closing your old ones 

This is important. Make sure you have your new account set up and ready to go before closing your old one. You don’t want to be without access to your money. Plus, if there are any hiccups in the process of opening your new account, you’ll still have access to your old one. It’s always better to be safe than sorry. 

Update your direct debits & automatic transfers 

One of the most annoying things about switching banks is having to update your direct debits and any automatic transfers that you have setup. Make a list of all the payments that come out of your old account and make sure you update them to your new account. This will save you a headache down the line – the last thing you want is to miss a payment because you forgot to update your details. Note: if you want to change the account for your Finnacle membership and/or insurances, please let us know the new account details as soon as possible. 

Set up online banking 

Online banking is a great way to keep track of your funds and keep up with your statements. Make sure you set up your online banking account as soon as possible. Some banks also have apps, which make it even easier to manage your money. Make sure you have selected the right account for your mortgage payment and have transferred money to the new account/s if required.

Close your old accounts properly 

Once everything is set up with your new bank and your direct debits and standing orders have been updated, it’s time to close your old account. Make sure you go through the proper channels to do this. You don’t want any lingering fees or charges popping up after you’ve closed your account. 

So, there you have it. With these tips, switching banks doesn’t have to be a nightmare. Just remember to make a list, set up your new account before closing your old one, update your direct debits, and close your old account properly. Happy banking!