Personal Banking Switch Kit

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1 Personal Banking Switch Kit A change for the better Welcome to Bremer Bank At Bremer Bank, we provide you with the tools to help you meet your financial goals. That starts with this Personal Banking Switch Kit, designed to make switching your accounts smooth and seamless. It s just one example of our commitment to exceptional client service, along with outstanding products and services. In this kit you ll find: Helpful information on how to proceed. Handy worksheets to keep track of account information, automated deposits and automated payments. Letters to redirect your automatic deposits and payments through your new account. A worksheet to reconcile your old account. An account closing notification letter for your former bank. We can help you prosper Our bankers will work closely with you and make recommendations based on your needs. Bremer Bank is committed to learning about you and providing you with special tools and banking privileges that can make all the difference in your future. If you have any concerns or questions about switching your accounts, please call us at BANK (2265), or stop by any Bremer Bank. COR Page 1

2 Let s Get Started Now that you ve opened a new account with Bremer Bank, you ll want to get organized to make the transition go as smoothly as possible. Simply download this document and follow the five steps. Step 1. Switch Kit Worksheets Take a few minutes to gather all available information about the transactions you need to transfer. You might want to use your register or recent statements to identify everything. Use the convenient worksheets found on pages 4 and 5 to organize information such as: Automatic Deposits Examples: - Interest - Paycheck - Social Security - Investments - Retirement - Other Automatic Payments Examples: - Auto Loan/Lease - Health Club - Mortgage/Rent - Cell Phone - Insurance Payments - Utilities Automatic Payment Options Bremer Bank offers quick and powerful electronic options to help you manage expenses. Pay and receive bills online with Bill Pay. It s fast, easy and secure. Use your Platinum Debit Card to easily pay all kinds of company bills like phone service, utilities and insurance premiums. Set up other automated transactions to electronically process through your accounts. Other regular monthly payments for which you currently write checks and would like to set up as an automatic payment, bill payment or debit card payment. Determine how you will contact these businesses: Call the company to make the switch. OR Log on to the company s website and enter the change request online. OR Send a letter to the company to transfer transactions. Print these documents to record your progress throughout this transition. If needed, proceed to step 2 to originate transfer request or closed account letters. Page 2

3 All the Tools You Need Step 2. Client Information Form Fill out the Client Information Form with your Bremer Bank account information. This data will pre-fill fields used in other forms going forward. Step 3. Form Letters If you are not mailing any transfer letters proceed to Step 4 Complete and mail the request to transfer letters as needed: Request to Transfer Direct Deposit Request to Transfer Automatic Payments Note: If you have multiple companies to contact, you will need to update the payment information on the form letter and then print for each transaction. Repeat this process until all letters are printed. Step 4. Reconciliation Worksheet Use this handy worksheet to reconcile your old account to ensure that direct deposits and automatic payments are being made to your new Bremer Bank account. Step 5. Account Closing Request Letter Once all of the automatic transactions are being processed through your new account and all of the transactions have cleared your old account, send the account closing request to your former bank to close your account. You have now successfully switched all of your transactions to your new account! Thank you for choosing Bremer Bank. Page 3

4 Switch Kit Worksheet Direct Deposits Use this form to record information for companies that will be making automatic deposits into your new Bremer Bank account, including verification that the switch was made. Direct Deposits - Companies that make automatic deposits into your account. Deposit Company /Phone Account Number Amount of Deposit Switch Complete Example My employer / # $1, th of month Dividends Interest Investments Payroll Retirement Social Security Notes Page 4

5 Switch Kit Worksheet Automatic Payments Use this form to record information for companies that will be making automatic deductions from your new Bremer Bank account, including when and how you requested the change and your preferred method of payment. NOTE: Consider how you make payments now and whether there are other regular payments that you could make using Bill Pay, Debit Card or other automatic payments instead of writing checks. Automatic Payments - Companies that make automatic deductions from your account. Payment Company /Phone Account Number Amount Payment Payment Method* Switch Complete Example ABC Car Company / # $ th of the month Bill Payment Auto Loan/Lease Cell Phone Credit Cards Health Clubs Insurance Premiums Internet Mortgage/Rent Utilities Notes Payment Set-Up To switch each payment, contact the companies you want to make payments to and provide them with your new information. This may be done by using the Request to Transfer Automatic Payment Letter, by phone or online at the company s website. If you are switching to a Bill Payment or Debit Card payment option, make sure the company cancels any other automatic payment set up. Bill Payment - Log on to Online Banking and set up the Payee. You re then ready to use Bill Pay. Debit Card - Contact the company you want to pay and give them your Debit Card information. Other Automatic Payment - Contact the company you want to pay and give them your new account information. * Automatic payments can be made by Bill Pay, Debit Card, or ACH Page 5

6 Client Information Form Get Ready to Switch Start with the basic information about you, your past banking relationship and your new account with Bremer Bank. Filling out this information will pre-fill the same information on the following forms, saving you valuable time. Your Personal Information Name Phone Number Former Bank Information Former Bank Name Former Bank ABA Routing Number Former Bank Account Number Bremer Bank Information Bremer Bank ABA Routing Number Bremer Bank Account Number Bremer Bank Notes Sample routing transit number On personal accounts, the routing number is the first set of nine-digit numbers found on the bottom of your check. Notes Page 6

7 Request to Transfer Direct Deposit Letter Deposit Originating Company Name To whom it may concern: This letter serves as a request to have my Direct Deposit transferred to my new account with Bremer Bank. My information is as follows: Account Number With Deposit Originating Company (if applicable) Name Phone Number The Direct Deposit is currently being deposited to the following account: Former Bank Name Former Bank ABA Routing Number Former Bank Account Number Checking Please redirect the Direct Deposit to my account with Bremer Bank as follows: Bremer Bank Bremer Bank ABA Routing Number Bremer Bank Account Number Checking Make this change effective: Special Instructions (Optional) Sincerely, Signature Print Name Page 7

8 Request to Transfer Automatic Payment Letter Payee Company Name To whom it may concern: This letter serves as a request to have my Automatic Payment transferred to my new account with Bremer Bank. My information is as follows: Account Number With Payee Company Name Phone Number The Automatic Payment is currently being withdrawn from my account with: Former Bank Name Former Bank ABA Routing Number Former Bank Account Number Checking Please redirect the Automatic Payment from my account with Bremer Bank as follows: Bremer Bank Bremer Bank ABA Routing Number Bremer Bank Account Number Checking Make this change effective: Special Instructions (Optional) Sincerely, Signature Print Name Page 8

9 Reconciliation Worksheet Before you close your old account, you ll need to make certain that all checks have been paid, and that all of your automatic direct deposits and payments are being received in your new Bremer Bank account. You can reconcile your old account below to verify that all entries you expected have cleared. Checks & Debits Outstanding - Checks that have been written and purchases that have been made but are not shown on statement. Check Number, Debit or Payment Amount Total of checks outstanding $ Reconciled as of ENTER Statement Balance $ ADD Deposits made after Statement Total $ Total of Checks Outstanding Bank Balance $ Should agree with your checkbook balance after deducting charges and adding credits listed on statement but not shown in checkbook. Page 9

10 Request to Close Account Letter Financial Institution Name To whom it may concern: This letter serves as a request to close the following account number(s): Account Number Checking Name on Account Account Number Checking Name on Account Please send a check for the remaining balance to: Name If you have any questions please contact me at this phone number Sincerely, Signature Print Name Joint Signature (if needed) Print Name Page 10