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So our current bank does not have any branches where we will be moving eventually. Anyone have any advice on how to transfer money to a new bank account and a good timeline on when to do it? I'm guessing last minute is best since there will still be things to pay up until it is time to leave. But just don't know how to go about doing it at all. Thanks!
The major banks typically allow you to transfer funds via EFT in order to open a new account, so you should be fine opening a new account about 2-3 weeks before your move. You'll want to allow time to receive new checks, ATM cards, etc.
So our current bank does not have any branches where we will be moving eventually. Anyone have any advice on how to transfer money to a new bank account and a good timeline on when to do it? I'm guessing last minute is best since there will still be things to pay up until it is time to leave. But just don't know how to go about doing it at all. Thanks!
Go to new bank. Tell them you want to change banks to their bank. Let them do it for you. You will have to sign some papers.
You can do it after you move. Keep some cash handy and use credit cards for most expenses and just pay them off. If you can time it so that you start using the cards for expenses just as you open the new account. The whole thing takes a few days at most.
Nowadays you can keep your old bank account wherever. You can still write checks for bills if you want, use your debit card at the store. You give your employer your old acct number for direct deposit, pay bills online with your debit card or bank account info.
I kept my old account for major stuff, and opened a local account for the odd chance I need to deposit a paper check.
You can connect both accounts through PayPal and move funds around from PayPal into and out of different accounts. Plus, you can get a PayPal debit card with cash back.
Nowadays you can keep your old bank account wherever. You can still write checks for bills if you want, use your debit card at the store. You give your employer your old acct number for direct deposit, pay bills online with your debit card or bank account info.
I kept my old account for major stuff, and opened a local account for the odd chance I need to deposit a paper check.
You can connect both accounts through PayPal and move funds around from PayPal into and out of different accounts. Plus, you can get a PayPal debit card with cash back.
We did something similar to the above on our last move. We have had the same bank, a good solid small town one, for years and they are so easy for us to work with from other states. We opened an account here for quick cash and for the paper checks.
If not that, I would go ahead and open an account at a bank before arriving there and still keep your current account open until you are sure all checks have cleared and automatic payments/withdrawals/deposits have been moved and are going in the new account. Our bank in town allows us to electronically transfer funds to the out-of-town bank.
No reason in the world not to use two banks and from what I have read, it is a good idea to have your money in more than one bank these days.
When you first receive statements, checks, or whatever, review them carefully for typos or errors. Try out account numbers and pins, user names and passwords, and credit cards and zip codes at gas pumps before you venture out on a trip or holiday.
I kept my old account open, until I moved to my new city, I opened a new account, started my job, had the next pay check deposited to that account, transferred all the bills to the new account. Called the bank in my other city, told them I wanted to close the account, they sent me a check, it was for a few dollars, because I wrote a check to myself at the new bank.
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