How do I avoid disruptions during the switching process?

To avoid disruptions while switching bank accounts, plan ahead and follow these steps:

  1. Notify Parties: Inform vendors, clients, and billers about your new account details.
  2. Update Auto-Payments: Redirect automatic payments and deposits to the new account.
  3. Overlap Period: Maintain funds in both accounts during the transition.
  4. Monitor Closely: Watch transactions closely for any missed or delayed transfers.
  5. Close Old Account: Once the transition is complete, close the old account properly.

By being proactive and meticulous, you can minimise disruptions during the switch.