Open and validate the new account
Complete account setup, signer permissions, online access, ACH/wire entitlements and fraud controls before redirecting operational money. Run small test transactions first.
Move incoming money
Update merchant processors, marketplaces, lockbox instructions, customer ACH instructions and recurring deposits. Track each source rather than assuming customers will update automatically.
Move outgoing payments
Re-route payroll, tax payments, vendor ACH, wire templates, card autopays, insurance and subscriptions. Outstanding checks can remain a reason to keep the old account funded temporarily.
Close only after reconciliation
Reconcile both accounts, confirm no stale checks or automatic entries remain, download statements and retain records before requesting closure.
Primary sources and reference material
Run a controlled migration, not a same-day switch.
Good business banking decisions come from matching account structure, controls, insurance, service and payment workflows to how the company actually operates.