The basic steps to move your checking account
Moving a checking account to another bank takes about one to two weeks, and you do not have to close your old account first. The process has three parts: open the new account, set up automatic transfers for money still coming in, and move any balance you want to keep. Most banks can handle the whole thing without you visiting in person.
Start by opening a checking account at the new bank. You will need a government-issued ID, proof of address (usually a recent utility bill or lease), and your Social Security number. Many banks let you open online in 10 to 15 minutes. Once that account is open and you have your new account number, you are ready to move money and redirect your income.
The actual transfer of your existing balance happens through an ACH transfer — an electronic move of money between banks that takes one to three business days. You can start this transfer from either your old bank or your new one. Your new bank may offer a tool to pull the money over automatically, or you can log into your old bank and push the money out yourself.
Key Takeaways
- You can keep your old account open while moving money to the new one, which gives you time to redirect paychecks and automatic payments without rushing.
- ACH transfers between banks take one to three business days, so plan ahead if you need the money on a specific date.
- Before closing your old account, check for any remaining automatic payments or deposits still tied to it, because they will fail once the account closes.
- Your new bank's customer service can walk you through redirecting direct deposits and setting up bill pay if you are unsure how to do it yourself.
- Closing your old account is optional — some people keep it open as a backup or to maintain their banking history with that institution.
Redirecting your paycheck and automatic payments
Before you close your old account, you need to move any money that flows in regularly. This means updating your direct deposit with your employer and changing the bank account for any automatic payments you have set up.
For direct deposit, contact your employer's payroll or HR department and ask them to update your banking information. Provide your new bank's routing number and your new account number — both are on a check from your new account, or you can find them by logging into your new bank online. The change usually takes effect within one to two pay periods.
For automatic payments — like insurance, utilities, loan payments, or subscriptions — log into each company's website or call them directly. Update the account information for each one. This is the step people most often forget, and it is also the one that causes problems later. If a payment tries to go to your closed old account, it will bounce, and you may face late fees.
Moving your existing balance
Once your new account is open, you can move the money that is already in your old account. The easiest way is to use your new bank's transfer tool. Log into your new bank's website or app, look for "Transfer Money" or "Link an External Account," and follow the prompts to connect your old bank account. The new bank will ask for your old account number and routing number, then pull the money over for you.
If your new bank does not offer this tool, you can transfer the money yourself by logging into your old bank and sending an ACH transfer to your new account. You will need your new account number and routing number. Either way, the money arrives in one to three business days.
Do not withdraw cash from your old account and deposit it into the new one unless you have to. ACH transfers leave a clear record, which matters if there is ever a question about the move. Cash deposits do not.
When to close your old account
Wait at least one full pay period after your paycheck has landed in your new account before closing the old one. This confirms that your direct deposit redirect worked. Also spend a few weeks watching for any automatic payments that might still be trying to hit the old account — they will fail, and you will see them bounce.
Once you are confident nothing is still using the old account, contact your old bank and ask them to close it. Some banks let you do this online or by phone. Others require you to visit a branch in person. Ask whether there are any fees for closing early — most banks do not charge, but some do if you close within a certain window.
Keep the old account open longer if you are not sure you have caught everything. There is no penalty for leaving it open, and it gives you a safety net if a payment bounces. You can close it anytime.
What to do if something goes wrong
If a transfer does not arrive after three business days, log into your new bank and check whether it is still pending. If it shows as completed but the money is not there, contact your new bank's customer service right away. They can trace the transfer and find out where it got stuck.
If an automatic payment bounces because it tried to hit your closed old account, contact that company when ready and give them your new account information. Ask them to resubmit the payment. Most companies will reprocess it without charging you a late fee if you call within a few days.
If you moved money but then realize you need to undo it, you have a limited window. ACH transfers can sometimes be reversed within 24 hours if you contact your bank right away. After that, the money is yours to move back manually if needed. Call your new bank's customer service as soon as you realize the problem.
Keeping your old account open as a backup
Some people choose to keep their old account open even after moving to a new bank. This is useful if you want a backup account for emergencies, or if you have had the account for a long time and want to maintain your banking history with that institution. There is no downside to keeping it open as long as you are not paying monthly fees.
If you keep the old account open, make sure it stays in good standing. Do not let it go negative, and keep a small balance in it if the bank requires a minimum. Check the account once a month to make sure no unexpected charges are hitting it. You can always close it later if you change your mind.
Frequently Asked Questions
Do I have to close my old account to move to a new bank?
No. You can leave your old account open indefinitely. Many people keep a backup account at their original bank. Just make sure you redirect all your income and automatic payments to your new account so the old one does not get used by accident.
How long does it take to move my money to a new bank?
An ACH transfer between banks takes one to three business days. Weekends and holidays do not count as business days, so a transfer you start on Friday might not arrive until Tuesday. Plan ahead if you need the money by a certain date.
What if my employer takes a long time to change my direct deposit?
Some employers process payroll changes slowly. In the meantime, you can have your paycheck deposited to your old account and then transfer money to your new account manually each pay period. Once the direct deposit change goes through, you can stop doing this.
Can I move my money if I have a negative balance in my old account?
No. You must bring your old account to zero or positive before you can transfer money out. If you owe the bank money, pay that balance first, then transfer what is left. Some banks will not let you close an account with a negative balance either.
What happens to checks I wrote from my old account after I close it?
Checks can still be cashed or deposited for up to six months after you write them, even if your account is closed. The bank will reject them and mark them as "account closed." To avoid this, do not write checks from your old account once you have decided to close it. Switch to your new account or use bill pay instead.