How to Move Your Bank Account to Another Bank

What happens when you transfer to a new bank

Moving your bank account to another bank means closing your account at your current bank and opening a new one elsewhere. The process itself takes a few steps, but the part that takes longest is updating where your paycheck, bills, and automatic payments go. Your old bank will not automatically tell your employer or your creditors that you have moved — you do that work, or you coordinate with your new bank to do some of it.

Most banks offer a service called account transfer or direct transfer that moves money from your old account to your new one in a single transaction. This is different from closing your account, which you do separately. You can move money without closing the old account, or close it after the transfer is complete.

The timeline depends on how many automatic payments and deposits you have. If you receive a paycheck and pay three bills from your account, the move takes about two weeks once you have set everything up. If you have ten automatic transactions, plan for three to four weeks to catch them all and redirect them.

Key Takeaways

• Open your new account before you close your old one, so you always have a working account while the transition happens.
• Update your employer's payroll system and each creditor or service provider individually — your bank cannot do this for you.
• Use your new bank's transfer tool to move your balance, but verify the money arrived before you close the old account.
• Check your old account for 30 days after closing to catch any automatic payments you missed, because some billers send charges weeks after you set them up.

Step 1: Open a new account at your new bank

Before you close anything, open the new account. You will need a government-issued ID, proof of address (usually a recent utility bill or lease), and your Social Security number. Most banks let you open an account online in 10 to 15 minutes, though some require you to visit a branch in person.

Ask the new bank whether they offer a transfer service during account setup. Many banks have a tool that lets you enter your old account number and routing number, and they will pull your balance over automatically. If they do not offer this, you can transfer the money yourself using your online banking portal or by visiting a branch.

Write down your new account number and routing number as soon as the account opens. You will need these to redirect your paycheck and bills.

Step 2: Redirect your paycheck and automatic deposits

Contact your employer's payroll or human resources department and ask them to change your direct deposit information. Provide your new account number and routing number. This change usually takes effect on your next pay cycle, though some employers need five to ten business days to process it.

If you receive other regular deposits — Social Security, disability payments, tax refunds, or transfers from another person — contact each source separately. The Social Security Administration, the IRS, and other federal agencies have their own processes for updating account information. If someone sends you money regularly through a bank transfer or payment app, tell them your new account number.

Do not close your old account until at least one paycheck has landed in the new account. This confirms that the redirect worked.

Step 3: Redirect automatic payments and bill payments

Make a list of every automatic payment that comes out of your old account. Check your last three months of statements to find them all. Common ones are utilities, insurance, subscriptions, loan payments, credit card payments, and rent.

Contact each company or service provider and give them your new account number and routing number. Do this by phone, through their website, or in person — do not rely on email for financial information. Ask them to confirm the change in writing or take a screenshot of the confirmation page.

Some companies take up to two weeks to process the change, so update them before you close your old account. If a payment tries to come out of your old account after you have closed it, the transaction will fail and you may face a late fee from the company. Calling ahead prevents this.

Step 4: Transfer your balance

Once your paycheck and automatic payments are redirected, transfer the remaining balance from your old account to your new one. If your new bank offered a transfer tool during setup, use that — it is the fastest method and usually completes within one business day.

If your new bank does not have a transfer tool, you can transfer money yourself. Log into your old bank's online portal, look for "transfer funds" or "send money", and enter your new account number and routing number. You can also visit a branch and ask a teller to transfer the balance, or write a check to yourself and deposit it at your new bank.

Wait for the transfer to complete and verify that the money arrived in your new account before you close the old one. This usually takes one to three business days.

Step 5: Close your old account

Contact your old bank by phone, through their website, or in person and ask to close the account. The bank will confirm that the balance is zero (or ask what to do with any remaining funds). Some banks charge a fee if you close an account within a certain time frame — usually 90 days to six months — so ask about this before you close.

Request written confirmation that the account is closed. Keep this confirmation for your records.

Do not close the account when ready after the transfer. Wait at least one week and check your old account one more time to make sure no unexpected charges or automatic payments came through. Some billers send charges weeks after you think you have updated them.

What to do if a payment fails after you close your account

If a company tries to charge your old account after you have closed it, the transaction will be rejected and you will likely receive a notice from the company saying the payment failed. Contact the company when ready and provide your new account number. Ask them to resubmit the charge to your new account.

If the company cannot resubmit the charge, you may need to pay them directly by check, phone, or their website to avoid a late fee. Keep records of this payment in case there is a dispute later.

This is why checking your old account for 30 days after closing is important — it gives you time to catch these failures and fix them before they affect your credit or result in service interruption.

Frequently Asked Questions

Can I transfer money between banks that are not connected?

Yes. Any bank can transfer money to any other bank using the ACH network (Automated Clearing House), which is how most automatic deposits and bill payments work. The transfer usually takes one to three business days. You can also use a wire transfer, which is faster but usually costs money.

What if my old bank will not let me close my account?

Banks rarely refuse to close an account, but they may require you to bring your ID in person or settle any outstanding fees or negative balance first. If you have a negative balance, you must deposit money to bring it to zero before closing. Call the bank and ask what is required.

Do I need to close my old account right away?

No. You can leave your old account open for as long as you want, though many banks charge a monthly fee if you do not maintain a minimum balance. Leaving it open for 30 to 60 days after your move gives you a safety net in case a payment fails or you missed updating a biller.

What if I have checks printed with my old account number?

Stop using them. Checks printed with your old account number will not work after you close the account. If you have a large supply of checks, contact your old bank about what to do with them — some banks will take them back. Order new checks from your new bank or a third-party printer.

How long does the whole process take?

The fastest move takes about one week if you have few automatic payments and your employer processes payroll changes quickly. A typical move with multiple bills and deposits takes two to four weeks. The longest part is waiting for all your billers to process the account change and for you to verify that everything is working.