Many of us have thought of moving our bank accounts at some point
or the other but refrained to implement the idea to avoid troubles
arising from such a shift. There is a lot of misconception among
customers regarding shifting bank accounts. Many fear that the new bank
would create troubles if they discovered that they do not posses quality
credit histories or create hassles to transfer accounts. However, this
is not so. In fact, changing accounts is very simple and is a
hassle-free process; provided you are sure that you want a shift for
justified reasons. Here are some facts that will help you to take you
through the process of moving your bank accounts.
Things to Consider Before Moving:
Before you move you bank account, be sure of such a move. It is important that you have justified reasons for moving the account; otherwise, you end up spending time in vain. If you are considering moving because you had a problem with the current bank, try to find a solution by calling up the bank. If the bank has made a mistake and admits it, and is ready to rectify it, you may not move. If not, many banks would welcome you.
Before moving to any particular bank, check what services they are offering. You may compare these services with those of some other banks and your current bank. Find out what are the various systems of service access that the bank is providing you. Match their service levels with your requirements.
Choose a Bank for Moving:
After doing a comparative analysis of the services and products offered by various banks, you may choose a particular bank to move. Once, you have decided, you may establish contacts with the bank's local branch and talk to a customer executive. Talk to him about various aspects of your move and mention why you are moving. This will give the bank an idea of what kind of service level you are expecting from them. Make sure that the branch is near your house or office for banking conveniently. It is advisable that meet the bank's personnel personally, to clarify your case with them.
The bank will verify your personal information such as address, date of birth, and other forms of identification. It will also check if you have an outstanding credit amount. After the bank is satisfied with its survey, it will give you a green signal and ask you for your instructions regarding how you what them to run your routine business.
You will then need to sign a form that will authorize your existing bank to move your account to the new one. The new bank will then be able to do the transfer work on your behalf.
Things to Consider Before Moving:
Before you move you bank account, be sure of such a move. It is important that you have justified reasons for moving the account; otherwise, you end up spending time in vain. If you are considering moving because you had a problem with the current bank, try to find a solution by calling up the bank. If the bank has made a mistake and admits it, and is ready to rectify it, you may not move. If not, many banks would welcome you.
Before moving to any particular bank, check what services they are offering. You may compare these services with those of some other banks and your current bank. Find out what are the various systems of service access that the bank is providing you. Match their service levels with your requirements.
Choose a Bank for Moving:
After doing a comparative analysis of the services and products offered by various banks, you may choose a particular bank to move. Once, you have decided, you may establish contacts with the bank's local branch and talk to a customer executive. Talk to him about various aspects of your move and mention why you are moving. This will give the bank an idea of what kind of service level you are expecting from them. Make sure that the branch is near your house or office for banking conveniently. It is advisable that meet the bank's personnel personally, to clarify your case with them.
The bank will verify your personal information such as address, date of birth, and other forms of identification. It will also check if you have an outstanding credit amount. After the bank is satisfied with its survey, it will give you a green signal and ask you for your instructions regarding how you what them to run your routine business.
You will then need to sign a form that will authorize your existing bank to move your account to the new one. The new bank will then be able to do the transfer work on your behalf.
