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5. How to switch banks ?

Step 2: Make Your First Deposit

To use your account, you’ll need some money in there. Some banks require a minimum opening deposit amount, while others let you decide. If you’re able, fund your new checking account with at least one month’s expenses. That way, you don’t overdraft as you move over your automatic expense payments.

For an online bank, you’ll generally fund your account with an electronic funds transfer through the automated clearing house (ACH) system. That means you’ll need your old bank account number and routing number to connect your accounts.

You can get your new account information from your banker, the bank’s website or the bottom of a check. The routing number is a 10-digit number unique to your bank, and the account number is a numerical identifier unique to your account. The combination of routing and account numbers is used to send funds between accounts at banks across the United States.

Find your routing and account numbers at the bottom of your check.
Find your routing and account numbers at the bottom of your check.

Alternatively, you could go to your old account and make the transfer from there to the new one. For a physical branch account, you can fund an account with cash or a check.

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