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Is It Time to Switch Banks?

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Choosing a new financial institution can be tricky. We’ve created a checklist to help navigate the process!

Download the PDF version of our Is It Time to Switch Banks? infographic.

Is it Time to Switch Banks Infographic


Is it Time to Switch Banks?

A Checklist for Closing Accounts and Starting Over

Why Would You Leave Your Bank?

  • Excessive Fees
  • No Mobile/Online Service
  • Poor Products/Services
  • Negative Experiences

How Can You Make the Switch?

  • Research Local Credit Unions and Banks Considering:
    • Fees, Product Offerings, Customer Service
    • Savings Interest Rates, Loan Rates,
    • Nearby Branches & ATMs, Online and Mobile Banking
    • Community Involvement, Mission, Vision, and Values
  • Choose the Best Option
  • Open Your New Account
  • Leave Money in Your Old Account (To Cover Uncleared Payments)
  • Transfer the Rest to Your New Account
  • List Services/Automatic Banking Activities, Including:
    • Account Alerts, Direct Deposit, Automatic Payments & Transfers, and Overdraft Protection
    • Online Banking and Mobile Apps
  • Stop Services/Automatic Banking Activities to the Old Account
  • Set Up Services/Automatic Banking Activities to the New Account
  • Wait for All Payments to Clear the Old Account
  • Close the Old Account
  • Take Your Remaining Money. You’re Done!
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VSECU is a member-owned cooperative and not for profit credit union for everybody who lives or works in Vermont, offering a full range of affordable financial products and services to its member-owners. VSECU is committed to improving the lives of Vermonters by empowering possibilities for greater social, environmental, and financial prosperity.

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