Account Switch Kit
Already have an account at another financial institution? Is the hassle of switching your direct deposit and automatic payments keeping you from switching your accounts to Premier Credit Union? Let our online Account Switch Kit take the hassle out of switching your accounts.
Follow the Account Conversion Checklist below and switching your account is easy. We've taken the hassle out of moving your accounts by including everything you need to transfer all your electronic deposits and withdrawals from your current financial institution to Premier Credit Union.
We demonstrate everyday how important it is to us to provide you the best service possible. Call us if you need further assistance. If you are unable to print from your computer, we'll mail you a Switch Kit that contains printed copies of all these forms.
Account Conversion Checklist
Use this checklist when switching your account from another financial institution to Premier Credit Union.
- Verify checks that have not yet cleared your checking account. You must leave sufficient funds in the checking account when you close it in order to cover all checks you have written, but have not yet cleared.
- Make a list of all direct deposits coming into your account (employer payroll, cafeteria plan administrator, Social Security or other government benefits, investment interest payments, etc.). Examine your last statement to make this list. Use the Direct Deposit Change Form to send written notice to each depositor. Each depositor requires written notification to change your direct deposit instructions. Most direct deposit changes do not occur immediately. Check with each depositor to determine how far in advance of the deposit you must provide your change notice.
- Make a list of automatic payments coming out of your account (utility companies, insurance companies, Internet service provider, loan payments to other lenders, etc.). Examine your last statement to make this list. Use the Automatic Payment Change Form to send written notice to each payee. Each payee requires written notification to change your automatic payment instructions. Most automatic payment changes do not occur immediately. Check with each payee to determine how far in advance of the automatic payment you must provide your change notice. Leave sufficient funds in your account to cover all automatic payments until all payees are able to make the change.
- Contact your current financial institution to close your account. Use the Account Closure Form to send written notice to your current financial institution of your decision to close your account. This letter only serves to notify the institution of your decision to close your account. Your current financial institution may have its own requirements to complete account closure.