How to Switch Banks in Kansas City

How to Switch Banks in Kansas City

Opening a 529 Savings Plan in Kansas City at a local bank may be at the top of your holiday to-do list. But which bank is best? When doing your research on how to switch banks in Kansas City, it may seem like a daunting task. So much can be a tied to a bank account—direct deposit, automatic payments… But maybe you’re not happy with your bank anymore.

When to switch banks in Kansas City

Cold, sales-oriented staff

Are your customer service experiences less than ideal? Perhaps “customer relations’” only real goal is to upsell you. Or maybe it’s even worse, the opposite effect—they don’t care at all. If your bank feels unwilling to help you, that’s a great sign it’s time to make a switch.

Low yields & high interest rates

Corporate banks profit on your accounts. So why aren’t they letting you in on the share? Banks that do not reward their customers for their loyalty run the risk of losing those clients in the long run. Cornerstone Bank offers high interest savings and money market accounts in Kansas City to help our customers bank smarter and make their money work for them.

Banking local

Banking with a larger chain generally means less personal attention. If you’d like to get more out of your banking experience, working with a local bank like Cornerstone is the way to go when considering how to switch banks in Kansas City.

Regardless of the reason why you’ve decided to switch banks in Kansas City, Cornerstone Bank is here to help provide the resources you need to make a seamless transition and keep your finances on track.

How to switch banks in Kansas City

By following the right steps of how to switch banks in Kansas City, your assets will be secure and you’ll have no problems with outside institutions. Switch your bank in Kansas City today and watch your money grow!

1. Get started

The first thing you want to do when learning how to switch banks in Kansas City is to open up a high interest account at your new bank. You’ll want to make sure your account is activated and ready to receive funds before you close any of your other accounts. This means opening a checking account, applying for a debit card, ordering checks, and setting up online banking.

2. Get automated

Many of today’s transactions occur automatically. The technology that allows this convenience, however, is many times not in service through human interaction. It will not understand how you’ve switched banks in Kansas City. Therefore, you’ll want to ensure you manually go into all of your outside accounts and update your billing information to reflect your new account. This should include:

  • Direct Deposit from paychecks or social security
  • Bill payments like rent, utilities, and your phone bill
  • Subscriptions like Netflix, music, and other outside payments
  • Any other premiums you’re required to pay, like insurance or loans

3. Don’t rush

Be sure to leave your old account open for as long as you’re comfortable with. Cornerstone Bank suggests considering keeping your old account open a minimum of one month when switching banks in Kansas City.

Leave enough cash in the account just in case you’ve forgotten about an outstanding check or bill so those payments can still be made and will not run the risk of overdrafting the account. This will also ensure you don’t dip under any minimum balance your previous bank may impose on that account, which they may use as another excuse to charge you a fee.

4. Say goodbye

Once you feel comfortable with how your finances have laid out over the past month or more and you notice no more charges or debits coming from your old checking account, this is a good time to close it. This is the final step of how to switch banks in Kansas City and may come as a relief to many clients; however, there are some important regulations you should be aware of when closing an account.

Legally, banks may reopen your account without your consent should they notice a debit or credit transaction attempting to work its way through. To prevent any overdraft fees or check bounces, be sure these outstanding charges are taken care of before officially closing the account.

Ask for documentation that the account is closed. Additionally, you should also mention that you want restrictions placed on the account should a miscellaneous charge attempt to come through. This means that the bank will not be allowed to reopen the account in order to allow the charge after you’ve switched banks in Kansas City. However, this will also mean you may be responsible for any bounced checks or unpaid bills from outside institutions.

Learning how to switch banks in Kansas City is easy when you’ve got Cornerstone Bank on your side. If you have any additional questions on how to navigate this process, give us a call or visit us around the corner in Overland Park.

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Next steps

Now that you’ve switched banks in Kansas City, learn about how to open a child’s bank account and make sure your whole family is covered before the holidays.