Move Your Money

Moving your money to a local bank or credit union is an important decision and many things should be considered before doing so.  Local First Arizona has put together some considerations you should make when thinking about which local bank is right for you.  Additionally, there is some guidance on aspects of using your bank account that you should prepare for before making the switch. 

Does This Bank/credit Union Provide Everything That I Need For My Account(S)?

Make sure to verify that the bank you are looking to switch to offers the services that are important to you. 

  • Free online banking and statements 

  • Free checking accounts 

  • Shared branching 

  • Accessible locations  

  • Surcharge free ATMs  

  • Technology

What Direct Deposits Go Into Your Accounts?

Make a list of all of the deposits that are fed into your checking or savings account with your current bank. This will include how you are paid from your current employer, how any returns on your taxes may be paid to you, and other scenarios as well.

 

What Automatic Payments Come Out Of Your Accounts?

This is likely going to be a longer list of items. Think through all the ways that you make payments on a weekly, monthly, or annual  basis to make sure you have thought of all the ongoing payments you make. This may include: 

  •  Mortgage or rent Insurance Credit Cards 

  •  Phone/Internet/Cable Loan Payments Streaming Services 

  •  Memberships Donations Utilities 

  • Before closing your old account: Verify all of your checks have been destroyed as well as old debit cards and deposit slips.  Request that any remaining balances be sent to you from your old bank or ask what is the best way to transfer remaining funds  to your new account.

Contact A Representative

Visit banklocalaz.com to find a list of local banks and credit unions. Once you've honed in on the banks or credit unions you think will be the best fit for your banking needs, contact a local bank to set up a phone call to discuss the opportunity. A conversation is really the best way to determine what will ultimately be the right decision for you and gives you the opportunity to ask additional questions and get a feel for the level of customer service that the bank provides. After meeting with all the potential banks or credit unions, now it's time to make a decision on where to put your money. Contact that bank or credit union to let them know that you've decided to move your money, and they'll let you know the next steps to complete the switch.