Yes, you can transfer your bank account to another bank, but you're not moving the account itself—you're moving the money and setting up new payment arrangements
Your bank account is tied to that specific bank's systems and cannot be physically transferred. What you can do is close the old account and open a new one at a different bank, then redirect your income and payments to the new account. The process takes a few weeks and involves some manual work on your part, but it's straightforward if you plan ahead.
The key is timing: you need to give yourself at least two to three weeks before closing the old account so you can catch any payments or deposits still heading to the old account number. If you close too quickly, money can bounce back or disappear into limbo.
Key Takeaways
- You cannot transfer an account itself; you must open a new account at the new bank and close the old one once all transactions have cleared.
- Update your direct deposits (paycheck, benefits, tax refunds) and automatic bill payments at least two weeks before closing the old account.
- Some banks offer a service to help you identify which payments are still tied to the old account, though you may need to contact billers yourself.
- Keep the old account open for at least 30 days after your last transaction to catch any delayed deposits or payments.
- If money arrives at the closed account, contact the old bank immediately—they can sometimes retrieve it, but only within a limited window.
What happens when you close an account and open a new one
When you close a bank account, that account number becomes inactive. Any money still in it will be returned to you (usually by check or transfer to another account you specify), but new deposits or payments sent to that old number will bounce back to whoever sent them. Your employer, the Social Security Administration, or a biller will receive a notice that the account is closed, but they won't automatically know your new account number.
This is why you must update your information before closing. If your paycheck bounces back, it can take weeks to reroute. If a bill payment bounces, you may be marked late even though you tried to pay. The new bank has no connection to your old account, so they cannot retrieve money sent to the wrong number.
Step-by-step: what to do before closing your old account
Week 1: Open the new account and gather information. Visit the new bank in person or online and open a checking or savings account (or both). You'll receive a new account number and routing number. Write these down—you'll need them repeatedly.
Week 1–2: Update direct deposits. Contact your employer's payroll department and provide your new account number and routing number. Ask them to confirm the change and tell you when the first deposit to the new account will arrive. Do the same for any government benefits (Social Security, unemployment, tax refunds, child support, etc.). The Social Security Administration has an online portal; most state benefit programs do too. If you receive regular deposits from anyone else (rental income, pension, family transfers), update those as well.
Week 1–2: Update automatic bill payments. Log into each biller's website or call them directly—your bank cannot do this for you. This includes utilities, insurance, loan payments, subscriptions, and any other recurring charge. Ask the biller to confirm the change. Some billers allow you to update online; others require a phone call. Do not rely on memory; write down which billers you've updated and which you haven't.
Week 2: Transfer any remaining balance. Once you're confident all recurring payments have been rerouted, transfer any money left in the old account to the new one. You can do this online (most banks allow transfers between accounts at different banks), by check, or by visiting the old bank in person.
Week 3: Close the old account. Call or visit the old bank and request account closure. Confirm that the account balance is zero and that you've provided a forwarding address. Ask the bank to send you written confirmation of the closure. Do not close the account online if you can avoid it—a phone call or in-person visit creates a record and lets you ask questions.
What to do if you miss updating a payment or deposit
If a payment bounces back to a biller, contact them immediately and provide your new account number. Most billers will resubmit the payment at no charge, though some may charge a fee. Ask them to waive it, citing the account change. If a deposit bounces back to your employer or a government agency, contact them and ask them to resubmit. This usually takes one to two weeks.
If money arrives at your closed account after closure, the old bank will return it to the sender. The sender then has to resubmit to your new account. This can create a delay of several weeks. To prevent this, keep the old account open for at least 30 days after your last transaction, even if the balance is zero. Some banks will close an account immediately; others will keep it open for a grace period. Ask when you call to close.
Using your bank's account transfer service (if available)
Some larger banks offer a service that helps you identify which payments are still tied to your old account. Chase, Bank of America, and Wells Fargo have versions of this. The service scans your old account for recurring transactions and may contact some billers on your behalf to update your information. This is not automatic and does not cover all billers—you still need to verify that each payment has been rerouted.
To use this service, ask your new bank whether they offer it. If they do, they'll usually set it up during account opening or shortly after. The service typically takes two to four weeks and requires you to keep the old account open during that time. Even with this service, you should manually verify a few key payments (paycheck, mortgage or rent, utilities) to make sure they've actually switched over.
Timing considerations: when to close the old account
The safest timeline is to open the new account, update all recurring payments and deposits, wait for at least one full cycle of each payment (so if you're paid weekly, wait a week; if monthly, wait a month), confirm that money is arriving correctly at the new account, and then wait another two weeks before closing the old account. This sounds long, but it prevents most problems.
If you're in a hurry, the minimum is two weeks: update everything, wait for at least one paycheck or deposit to arrive at the new account, and then close. Do not close the old account the same day you open the new one. Do not close it before updating your direct deposits. Both of these mistakes can cause money to disappear or bounce.
What to do if money gets stuck or lost
If a deposit or payment was sent to your old account after it was closed, the old bank will return it to the sender. The sender then has to resubmit it. Contact the sender (your employer, the government agency, the biller) and explain that your account was closed. Ask them to resubmit the payment to your new account number. Provide your new routing number and account number in writing.
If the old bank closed your account but you believe money should still be arriving, call the old bank and ask whether they can retrieve deposits that arrived after closure. Some banks will hold these for a limited time (usually 30 to 90 days) before returning them. If the money has already been returned to the sender, you'll need to contact the sender to resubmit.
If a payment was sent to the old account and bounced back, the biller may have marked you late. Contact the biller, explain the account change, and ask them to remove the late fee or late mark. Provide proof of the closure (the bank's written confirmation) if they ask for it.
Frequently Asked Questions
Can I transfer my account number to the new bank?
No. Each bank assigns its own account numbers. Your new bank will give you a completely new number. You must update this new number with your employer, billers, and anyone else who sends you money or takes payments from your account.
What if I forget to update a bill payment before closing the old account?
The payment will bounce back to the biller. Contact the biller, provide your new account number, and ask them to resubmit. Most will do this at no charge. If they charge a fee, ask them to waive it. Keep the old account open for at least 30 days to catch any delayed payments.
How long does it take to move everything over?
Plan for two to four weeks total. Opening the new account takes one day. Updating direct deposits and bill payments takes one to two weeks. Waiting for at least one cycle of each payment to confirm it's working takes one to four weeks depending on your pay schedule. Closing the old account should happen after all of this is confirmed.
Do I need to close the old account, or can I just leave it open?
You can leave it open, but it's not recommended. An inactive account may incur monthly fees, and you'll have to monitor it to catch any stray payments. Most people close the old account once they're confident all money is flowing to the new one. If you want to keep it open temporarily as a safety net, that's reasonable—just close it within 90 days.
What if my new bank won't let me open an account?
Banks use ChexSystems, a checking account history database, to screen applicants. If you have unpaid overdrafts or fraud disputes at other banks, you may be denied. Ask the bank why you were denied and whether you can appeal. Some banks specialize in second-chance accounts if you have a history of problems. You can also check your ChexSystems report for errors.