How to Switch your Business Checking Account to Merchants Bank
Step 1: Gather information about your current account.
- Identify outstanding checks and automatic transfers
- Copies of checks, deposit tickets and endorsement stamps
- Legal entity documents, including Federal Tax ID
- Required information for all authorized account users
- Examples of automatic payments or withdrawals you may need to switch include: Payroll, insurance premiums, utility bills (gas, water, electric), cell phone payments, mortgage or other loan payments, annual or semi-annual automatic transactions such as income tax refunds or payments, charitable contributions, websites (website hosting, supply or equipment vendors), Merchant Card Processor
Step 2: Let us help you. Merchants Bank will:
- Open business accounts and provide applicable documents for signature(s)
- Gather information to establish Treasury Management services, as applicable
- Order deposit bags, deposit tickets and endorsement stamps, as applicable
Step 3: Change auto deposits or payments. Helpful information to have handy:
- Merchants Bank routing number (091900193)
- New Merchants Bank checking account number
Step 4: Close your old checking account.
When you are sure your direct deposits have been switched to your new account and all your outstanding checks and debit card transactions have cleared, you may close your old checking account.
TIP: Shred your unused checks and destroy your old debit card(s), or bring them to Merchants Bank and we will destroy them for you, free of charge.
Treasury Management Implementation
If Treasury Management services are established for your business, we will contact you to set up software on your computer as well as training to the appropriate staff.
Give us a call to open a checking account!