The basic steps to move your money and set up direct deposits at a new bank

Switching banks means moving your paycheck, bill payments, and automatic transfers from one institution to another. The process takes two to four weeks because old and new banks have to coordinate, and some payments may still arrive at your old account during the transition. You do not have to close your old account immediately—keeping it open for 30 days after your last deposit clears lets you catch any stray payments.

Start by opening the new account and letting it fully activate (usually one to three business days). Then change your direct deposits and automatic bill payments one at a time, rather than all at once, so you can confirm each one works before moving the next. Finally, monitor both accounts for a month to catch any payments that still route to the old bank.

Key Takeaways

  • Open and fully activate your new account before changing any direct deposits or automatic payments.
  • Update your employer's payroll system and each biller separately—do not assume one change affects the others.
  • Keep your old account open for at least 30 days after your last deposit clears to catch delayed or recurring payments.
  • Check both accounts weekly during the first month to confirm all payments have moved and nothing is stuck in the old account.
  • If a payment bounces because it went to the wrong account, contact the biller immediately to resubmit it from your new account.

How to update your paycheck to go to the new account

Your employer's payroll department or HR system controls where your paycheck lands. Log into your company's payroll portal or employee benefits website and find the direct deposit section. You will need your new bank's routing number (a nine-digit code) and your new account number, both printed on your new checks or available through your new bank's website or app.

Enter both numbers, select checking or savings, and submit the change. Most employers process payroll changes within one to two pay periods, so your next check may still go to the old account—plan for that gap. If you cannot find the payroll portal, email your HR or payroll contact directly with your new routing and account numbers and ask them to update the system by a specific date.

Changing automatic bill payments and subscriptions

Bills that come out of your account automatically—utilities, insurance, loan payments, streaming services—each need to be updated individually. Log into each biller's website or app, find the payment method or bank account section, and enter your new routing and account numbers. Do this one biller at a time over the course of a week, rather than all at once, so you can confirm each payment processes correctly before moving to the next.

For bills you pay by phone or mail, call the biller's customer service line and ask them to update your account. Have your new routing and account numbers ready. If a biller cannot update your account online or by phone, ask whether they accept a new authorization form—many will email or mail one to you. Do not cancel the old payment method until the new one has processed at least once.

Transferring money from your old account to your new one

Once your new account is active, move your money over. The safest method is an ACH transfer (Automated Clearing House), which most banks offer free through their website or app. Log into your old bank's website, find the transfer or send money section, and select your new bank as the destination. Enter the amount and confirm—the transfer usually takes one to three business days.

If your old bank and new bank are not connected in the transfer system, you can transfer money by writing a check to yourself, depositing it at the new bank, or withdrawing cash and depositing it in person. Avoid moving all your money at once if you are still waiting for the last few automatic payments to clear from the old account—leave enough to cover them, then move the rest after they post.

What to do if a payment goes to the wrong account

During the transition, some payments will still route to your old account because the change has not reached the biller yet. Check both accounts weekly for the first month. If you see a payment in the old account that should have gone to the new one, contact the biller immediately and ask them to resubmit it to your new account. Most billers can reverse the old payment and send a new one within one to three business days.

If a payment bounces because it tried to go to your old account and there was not enough money there, the biller will usually charge a returned-payment fee. Call the biller right away, explain that you switched banks, and ask them to waive the fee and resubmit the payment. Many will do this once, especially if you can show that you updated your account information with them.

When and how to close your old account

Wait at least 30 days after your last deposit clears before closing your old account. This gives you time to catch any payments that are still routing there. Before you close, make sure the balance is zero or move any remaining money to your new account. Some banks charge a fee to close an account early (usually within 90 days of opening), so check your account agreement first.

To close the account, call your old bank's customer service line or visit a branch in person. Ask the representative to confirm the account balance is zero and to close the account effective immediately. Request written confirmation of the closure. If there are any outstanding checks or automatic payments still pending, the bank will tell you—do not close until those are resolved.

Updating other services that use your bank account

Beyond bills and paychecks, update any other services that pull money from or deposit money into your account. This includes tax refund direct deposits (update this through the IRS website or your tax software before filing), peer payment apps like Venmo or PayPal (update in the app's settings), insurance claims that deposit refunds, and any government benefits that direct deposit. Each one has its own update process, so check the service's website or call customer service to find where to change your bank information.

If you receive regular transfers from family members or friends, let them know your new account number and routing number. If they use a peer payment app, they may not need your bank details at all—but if they send ACH transfers directly, they will need both numbers to set up the new payment.

Frequently Asked Questions

Can I switch banks without closing my old account?

Yes. Keeping your old account open for 30 days after your last deposit clears lets you catch any payments that still route there. After that, you can close it. Some people keep an old account open indefinitely as a backup, though most banks charge a monthly fee if the account is inactive.

What happens if I close my old account before updating all my payments?

Any automatic payments or direct deposits that still route to the closed account will bounce and may trigger overdraft or returned-payment fees. The biller will usually retry the payment, but it may be late. Always update payments first, then wait 30 days before closing the old account.

How long does it take for a direct deposit to switch to my new account?

Most employers process payroll changes within one to two pay periods. Your next paycheck may still go to the old account. Contact your payroll department to confirm when the change will take effect, and plan for one extra paycheck to arrive at the old bank.

Do I need to update my routing number if I switch to a different branch of the same bank?

No. All branches of the same bank share the same routing number. Your account number may change, so update that with your employer and billers, but the routing number stays the same.

What if my new bank and old bank are not connected for transfers?

You can transfer money by writing a check to yourself and depositing it at the new bank (takes three to five business days), withdrawing cash and depositing it in person (immediate), or asking your new bank whether they offer a service to pull money from your old account (some do, for a fee).