How to Switch Your Business Checking Account to Merchants Bank: Step 1: Gather information about your current account.
Step 2: Let us help you. Merchants Bank will:
- Copies of checks, deposit tickets and endorsement stamps
- Legal entity documents, including Federal Tax ID
- Required information for all authorized account users
- Identify outstanding checks and automatic transfers
- 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 3: Change auto deposits or payments. Helpful information to have handy:
- Open business accounts and provide applicable documents for signature(s)
- Gather information to establish Cash Management services, as applicable
- Order deposit bags, deposit tickets and endorsement stamps, as applicable
Step 4: Close your old checking account.
- Merchants Bank routing number (091900193)
- New Merchants Bank checking account number
- Old checking account number
- Old Bank routing number
- Last three months of bank statements
- Recent bills for automatic payments (the form to change the payment may be on the back of the bill itself)
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. Cash Management Implementation
If Cash 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.
Contact Us to Open a Checking Account