Professional Documents
Culture Documents
Bank Switching Step-by-Step N Standard Forms Made Easy
Bank Switching Step-by-Step N Standard Forms Made Easy
Bank Switching Step-by-Step N Standard Forms Made Easy
com (see the website link below) for the latest updates. I find it much easier to make periodic update and small changes on my blog at Wordpress than in Scribd.com. I still love Scribd.com but for a file that requires regular updates, its best to keep it at my Wordpress blog. Thanks for reading! Follow the latest updates on my Wordpress blog, click on the link below:
http://ny121asil.wordpress.com/2012/03/05/how-to-guide-on-bank-switching-search-for-creditunions-automatic-bill-pay-direct-deposit-advice/
NOTE: The content below have not been updated. Please go to the website link to see the latest updates on my blog at Wordpress. Thanks!
Table of Content Pages 1-2) Website links on searching for Credit Unions near you. Page 3) Step-by-step guide from Consumer Union on bank switching Page 4) Switch Kit To Do List Page 5) Standard Form: Initiate/Switch My Automatic Payment Letter Page 6) Standard Form: Initiate/Swich My Payroll Direct Deposit Letter Page 7) Standard Form: Bank Account Closing Letter Money-saving tip 1: If you need to buy Cashiers Check or Money Order, try US Post Offices Money Order. Avoid the highway robbery charges at the Big Banks ($10 or more). It costs less than $2 to buy US Postal Money Order in value up to $1,000. The fee is only $4.45 for International Money Order that can be cashed in 29 countries (see list in the USPS website). For example, if you need to buy $2,000 Domestic Money Order, you only pay $1.55 x 2 = $3.10 in fee for US Postal Money Order. See this USPS website about their Postal Money Order: https://www.usps.com/shop/money-orders.htm
The Los Angeles Times reported on March 1, 2012 that more than 1.3 million Americans have switched their money to Credit Unions in 2011 in response to the increasing fees at the Big Banks. This compares to nearly 600,000 people switching to Credit Unions in 2010. Expect the number of American switching to increase in 2012 with even more fees coming. http://www.latimes.com/business/la-fi-bank-fees-complaints-20120302,0,7970213.story
Page | 1
Oct 2011. The new software helps customers make seamless bank account switching. Ask your CU to use Switch Agent software from Deluxe. See the news article here: http://goo.gl/Svhqx 7) See this Daily Kos blog: http://goo.gl/3N3sD At least 2 church groups in San Jose, CA withdrew more than $7 million from Wells Fargo and Bank of America, the churches are moving their money to local Credit Unions that create local jobs & invest in local communities. 8) About 300 people in Colorado closed their Wells Fargo account in October. Read the news here: http://goo.gl/3N3sD
3. Switch automatic payments/withdrawals using the Authorization To Change Automatic Withdrawal: q Mortgage/Rent q Association Fees q Internet service q Investments q Utilities: Electric, Gas, Water q Online billing q Auto q Club/Membership Dues q Cable TV/Satellite q Credit Cards q Phone/Cell Phone q Other
4. Close all other savings, checking & bill payment accounts using the Authorization To Close Account: Financial Institutions: 5. Transfer high-rate credit card balances to your Credit Union VISA using the Balance Transfer Authorization: Credit Cards To Transfer: 6. Additional options to explore: q Refinance your auto loan at the new Credit Union most CU offer lower interest rates q Refinance your mortgage loan at the new Credit Union. q Tap your homes equity with one of the Credit Unions home equity services.
Share this HOW-TO Guide with your friends and family. Share the love!
Page | 4
Automatic P
BUSINESS NAME (PAYEE) ADDRESS
RE: Initiate/Switch My Automatic Payment ATTENTION: Accounts Receivable/Accounting I would like to initiate/switch my automatic payment with your company to my new bank account. If you have any questions regarding this request, please call me at the phone number listed below. Thank you for your prompt assistance in this matter. Sincerely,
DATE
Initiate
Switch
Name
Address
City / State
Zip Code
Amount to be Debited (write amount due for payments that vary each month) For: Payment or Reason On: Date of Payment
Initiate/Switch My
COMPANY NAME
ADDRESS
RE: Initiate/Switch My Payroll Direct Deposit ATTENTION: Payroll Department Manager I would like to initiate/switch my direct deposit to my new bank account. If you have any questions regarding this request, please call me at the phone number listed below. Thank you for your prompt assistance in this matter. Sincerely,
AUTHORIZED SIGNATURE
(Original signature required to authorize change)
DATE
Address
City / State
Zip Code
Your New CU/Bank Account Number for deposit amounts that vary each month)
Amount to be Deposited
Amount to be Deposited
Page | 6
BANK NAME
ATTENTION: Account Maintenance This letter is to inform you I am closing my accounts at your bank. Please close the following account(s) listed below and send a check for the remaining balance(s) to my address. If you have any questions regarding this request, please contact me in writing or at the phone number listed below. Thank you for your prompt assistance in this matter. Sincerely,
DATE
Account Information
Name
Address
City / State
Zip Code
Page | 7