How do i switch banks or withdraw all my money.?Ok so I'm 20yrs old and have a bank account in texas but I recently moved to kansas, can I withdraw my total checking account balance from a different bank? Or do I have to switch banks by going to a new one? My bank is a local bank so there are no out of state locations. I have no outstanding or recurring debts. | |
Yes you can. What you need to do is call your bank in Texas, ask them what your account number and routing number are. Then go to the bank that you want to transfer your funds to, get with a banker and have them help you wire the funds to your new bank from your old one. Money wires usually take between 8 and 12 hours depending on when you submit them.
What you do is close the account with the old bank, get a cashiers check for the money that was in your account(s). Go to a bank in your new neighborhood, open a new set of accounts and deposit the cashier's check from your old bank.
You have to close the old accounts. Just withdrawing all the money does not close the account. The old bank could charge you with monthly service fees on an empty account and this could ruin your credit if they decide to report the negative account to the credit bureaus and/or chex system.
Physically walk into your old branch and tell them you are closing all accounts because you are moving away.
this is really simple.
check the old balance
go into a new bank - national or local to where you moved - either one you like and tell them you want to open an account and fill out the paperwork
write a cheque from the old account payable to you for the whole balance (this may seem weird but it is done all the time to transfer funds)
cash the cheque into the new account.
usually 3-10 days and the cheque hold will be off and your balance will be local and convenient again.
once it clears, call the old bank and request they close the account
