5. How to switch banks ?

Step 6: Close Your Old Account

Contrary to a popular myth, keeping an old bank account open does not help you in any way. (This is not the case with credit accounts.) Old accounts serve only as a source of financial clutter and an easy place to accidentally make a mistake and overdraft an account.

Once your credit cards, money apps and all of your recurring payments are updated, you can close that old bank account and focus on the new one.

While bank accounts may not be the most exciting part of your life, switching accounts can be time consuming. It feels great to finish!

Switching banks to a new account at a new bank can do a lot for you. It can help you save money, avoid fees, get a better interest rate, add convenience to your life, give you access to free ATMs and a lot more. Don’t ever feel stuck in an account you don’t like or with a bank you don’t trust.

Moving banks is your right as a customer. You should find the right bank that makes you happy and meets your unique banking needs. That’s what choosing the right bank account is all about.

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