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Personal Finances

How to Switch Banks Easily Using ClickSWITCH by Amerant 

Discover how to use ClickSWITCH to transfer your automated payments to a new bank seamlessly. 

Using your bank account every time you pay bills, make a purchase, or receive money makes it especially important for satisfaction with your bank. If you’re unhappy with your current bank or want to explore other options, it may be time to switch. But first, you’ll need to handle your linked accounts, such as automated payments and direct deposits. Many banks now make it easy to transfer all your scheduled transactions instantly.

Reasons to Switch Banks 

Unsure it’s time to say goodbye to your old bank and open a new account? Explore these common reasons for switching banks: 

  • Saving money: If you find yourself bogged down by unexpected fees or high-interest rates, you may be able to find a better deal with a different bank. 
  • Easier access: Look for local banks that offer convenient branch locations and ATMs so you can access your money on the fly. 
  • Better experience: If you have issues with a card or account, you want a customer service team that will take you seriously. Some banks have better reputations than others in offering an excellent customer experience

Even if you’re happy with your current financial institution, better options may exist. Regularly research different banking options to ensure you get the best financial services. 

How to Switch to a New Bank 

If you’re ready to transfer banks but aren’t sure where to start, here is a helpful guide on how: 

Assess Your Current Account 

Before you begin the transfer process, make note of all the payment accounts you have linked to your current bank account. Make a list of all the automatic payments that come out of your account and the dates they take place. This information ahead of time makes it easier for you to keep track of your money as you move from your old account to your new one. 

Open a New Account 

Reach out to your new bank and ask about the process for opening a new account. Some banks allow you to open an account online, while others may require you to come in person to start. Regardless, you’ll need a few documents, such as your ID and proof of residence. You may also want to open multiple accounts with your new bank, such as one account for checking and another for a savings account

You’ll also need money for your first deposit to use your new account officially. Check the policies at your new bank to determine the required minimum balance for the account you want to open. Start with a few months of expenses to use your new account immediately to pay bills and make purchases.

Getting your new account fully up and running may involve a few extra steps, such as activating your debit card or setting up overdraft protection. Be sure to create an account with your bank’s online banking portal. If it’s available, download its mobile banking app to get full use of its services. 

Redirect Recurring Transactions With ClickSWITCH 

Once you have an open account, you can transfer all your automated payments from your old bank account. Although you can manually change all your recurring transactions through each merchant, some banks offer “switch kits” that migrate any linked deposits or payments on your behalf. This allows you to skip the process of calling different companies or changing your direct deposit details on each account. 

With an account at Amerant Bank, you can use the ClickSWITCH transfer system, which has secure online encryption to help you transition your information from one bank to another. ClickSWITCH moves all your direct deposits and automatic payments to your new account. This allows you to update all linked accounts in bulk. 

Once you create an account, Amerant will email you a link to set up your ClickSWITCH account. Follow the prompts and select “Start New Switch” to share information about your previous bank account. View the progress of your transfer on the ClickSWITCH dashboard to ensure a smooth transition. 

Confirm the Transfer Process 

Although ClickSWITCH and other switch kits automatically move over your direct deposits and automated payments, leaving your old account open is a good idea to confirm that the transfer was successful. That can help you avoid mistakenly skipping a payment for accounts connected to your old bank account. Wait for a few of your automated transactions to go through on your new account, and check your old account to ensure it’s no longer connected. 

Be aware that some banks may charge fees if you drop below a certain balance in your account. Ensure you keep enough money in your old and new accounts to avoid unexpected charges during this transition period. 

Close Your Old Account 

Once the transfer process is complete, close your old account. Some banks may require you to fill out a form or submit an official request to close your account. Withdraw the remaining funds from your old account and transfer them to your new bank.

As a precaution, destroy your old debit card or checks to avoid trying to make a payment through a closed account on accident. If you have a credit card with your former bank, you must pay off the full balance before officially closing the account. 

Moving to a new bank gives you access to new account offerings and banking services. With a few simple steps, you can transfer to your new bank without any disruption to your ongoing transactions.

Amerant Bank provides you with all the tools you need to shift your regular deposits and withdrawals to your new account. Learn more about our financial services at amerantbank.com and follow Amerant on Facebook, Twitter, Instagram, and LinkedIn at @AmerantBank for tips and upcoming offers.

Editorial Team
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