The fastest way to move your checking account

The fastest way to move your checking account is to open the new account first, then use your new bank's incoming transfer service to pull money from your old account. Most banks can complete this within one to three business days. You give the new bank your old account number and routing number, and they handle the rest—you do not have to contact the old bank yourself.

If you want to move everything at once, do this before you close the old account. If you want to move money gradually or test the new bank first, you can transfer smaller amounts and leave the old account open. Either way, the new bank does the work; you just provide the account details and authorize the transfer.

Key Takeaways

  • Open your new checking account, then ask the new bank to pull funds from your old account using the old bank's routing number and your account number.
  • Incoming transfers typically complete in one to three business days, though some banks offer faster options for an extra fee.
  • You do not have to close your old account immediately; wait until all automatic payments and direct deposits have switched over.
  • Update your direct deposit, automatic bill payments, and any services linked to your old account before or shortly after the transfer.
  • If you transfer money but forget to update a payment, the old account will reject it—contact the payee to resubmit from your new account.

What information you need to give the new bank

When you open the new account and ask for an incoming transfer, the new bank will ask for your old account number and your old bank's routing number. The routing number is a nine-digit code that identifies your old bank. You can find it on a check from the old account (it is the first nine digits on the bottom left), or you can call the old bank and ask.

You will also need to authorize the transfer—usually by signing a form or confirming it online. The new bank will then contact the old bank electronically and request the funds. You do not need to contact the old bank yourself or give them permission separately; the new bank handles that part.

Timing: when the money arrives and when to close the old account

Standard incoming transfers take one to three business days. Some banks offer expedited transfers for a fee (usually $10 to $25) that can arrive the same day or next business day. Ask your new bank whether they offer this option when you open the account.

Do not close your old account immediately after the transfer arrives. Wait at least one week, and longer if you are still expecting checks to clear or if you have automatic payments set up. If a payment bounces because the account is closed, the payee may charge you a returned-payment fee and may stop processing your future payments. Once you are certain all automatic payments have switched to the new account and no more checks are coming in, you can call the old bank and ask them to close it.

Updating direct deposit and automatic payments

Before you transfer money, make a list of every service that pulls money from or deposits money into your old account. This includes your employer's direct deposit, automatic bill payments (utilities, insurance, loans, subscriptions), and any apps or services linked to the account. You will need to update each one with your new account number and routing number.

For direct deposit, contact your employer's payroll department or HR and give them your new account details. They usually update it within one pay cycle. For automatic bill payments, log into each biller's website or call them and update your account information. For apps and services, go into your payment settings and update the linked bank account. Do this before the transfer or within a few days after—the sooner the better, so you do not miss a payment.

If you forget to update a payment and it tries to pull from the old account after you have closed it, the payment will be rejected. The payee will then contact you about the failed payment. Contact them immediately, give them your new account number, and ask them to resubmit. Some payees will resubmit for free; others may charge a fee for the failed attempt.

What happens if the transfer fails or takes longer than expected

If the transfer does not arrive within the timeframe the new bank promised, contact the new bank first. They can check the status of the transfer on their end. If they see that the transfer was sent but the old bank has not received it, they can contact the old bank to investigate. This is rare but can happen if there is a typo in the routing number or account number.

If the new bank says the transfer was never sent, ask them why. Common reasons include a mismatch between the account number you provided and what the old bank has on file, or a hold placed on the old account. If there is a hold, the old bank will not release the funds until the hold is lifted—this sometimes happens if the account has been inactive or if there is a dispute. The new bank can help you contact the old bank to resolve it.

If you need the money urgently and the transfer is delayed, you can withdraw cash from the old account at an ATM or branch and deposit it into the new account immediately. This is not ideal, but it gets the money into your new account the same day.

Closing the old account and what to watch for

Once you are certain all payments have switched and no more checks are clearing, call the old bank and ask to close the account. Some banks let you close online; others require a phone call. When you close, ask the bank to confirm the account is closed and to send you a written confirmation. Keep this confirmation for your records.

Before you close, check whether the old bank will charge you a fee for closing the account early. Most banks do not, but some have a minimum time you must keep the account open (often 30 to 90 days). If there is a fee, ask whether they will waive it. After the account is closed, the old bank will no longer accept deposits or payments to that account, so make sure everything has switched over first.

After closing, monitor your new account for the first month to make sure all your regular payments are going through and all your deposits are arriving. If you notice a payment is missing or a deposit did not show up, contact the payee or your employer right away to find out what happened.

Moving money without closing the old account

You do not have to close your old account. Some people keep it open as a backup, or to receive checks or payments from people who still have the old account number. If you want to keep the old account open, you can transfer money to the new account once and leave it at that, or you can set up a recurring transfer to move money on a schedule.

If you keep the old account open, ask the old bank whether there is a monthly fee for an inactive account. Many banks charge $5 to $10 per month if you do not use the account. If there is a fee, you can either close the account or keep a small balance in it to avoid the fee. Some banks waive the fee if you set up a direct deposit or automatic payment, even if the amount is small.

Frequently Asked Questions

Can I transfer money while I still have automatic payments on the old account?

Yes, but you need to update the automatic payments before or right after the transfer. If a payment tries to pull from the old account after the transfer, it will fail if the account is closed. Update each payment as soon as you know the new account number—do not wait until after the transfer completes.

What if I do not know my old bank's routing number?

Call your old bank's customer service line (the number is on your debit card or a statement) and ask for the routing number. You can also find it on a check from the old account—it is the first nine digits at the bottom left. Some banks also list it on their website if you search for "routing number".

How long does it take to close the old account after I transfer the money?

Wait at least one week after the transfer completes, longer if you are still expecting checks or automatic payments. Once you are certain everything has switched to the new account, you can close it. Closing usually happens immediately when you call the bank, though it may take one business day for the account to fully close in their system.

Will I lose money or get charged fees if I transfer between banks?

No. Incoming transfers between banks are free at most institutions. Some banks charge a fee for expedited transfers (same-day or next-day), but standard transfers do not cost anything. The old bank will not charge you to send the money out, and the new bank will not charge you to receive it.

What if a check I wrote on the old account has not cleared yet when I close it?

The check will still clear even after you close the account, as long as the check was written before the account closed. The old bank will honor it. However, if you close the account and then write a new check on it, that check will bounce. Make sure you have stopped using the old account and all outstanding checks have cleared before you close it.