How to Switch Your Direct Deposit: A Simple Step-by-Step Checklist

Switching your direct deposit sounds like a bigger task than it really is. With a little preparation and the right checklist in hand, the process is straightforward and takes far less time than most people expect. Whether you're opening a new checking account or simply switching to a financial institution that works harder for you, the steps below will help you make the switch without missing a beat.

Before You Switch: What to Gather First

Before you make any changes, take a few minutes to gather what you'll need. Having this information ready will save you time and help you avoid any hiccups along the way.

Here's what to have on hand:

• Your most recent bank statement from your old account, which will help you identify recurring deposits and automatic payments
• Your employer's HR or payroll contact information, or access to your employer's online payroll portal
• A list of any other income sources that deposit funds directly into your account, such as government benefits, pension payments, or tax refunds

If you receive Social Security payments, those can be updated directly through the Social Security Administration at SSA.gov or by calling 1-800-772-1213.

The Complete Switch Your Direct Deposit Checklist

Step 1: Open Your New Checking Account

The process starts here. Open your new checking account and make note of your new account number and routing number. You'll need both to complete every other step on this list. If you plan to order checks, do that now so they arrive before you need them.

Step 2: Set Up Online and Mobile Banking

Once your account is open, enroll in online and mobile banking right away. This gives you the ability to monitor both your old and new accounts at the same time during the transition, which makes it easier to catch anything that slips through. While you're at it, sign up for electronic statements (eStatements). It takes only a moment and can come in handy for account qualification purposes down the road.

Step 3: Notify Your Employer or Payroll Department

Contact your employer's HR or payroll department and let them know you need to update your direct deposit information. You'll provide your new routing number and account number. Many employers offer an online payroll portal where you can make this change yourself, so check there first before reaching out directly.

Plan for the update to take one to two pay cycles to fully process. Your paycheck may still land in your old account for a pay period or two.

Step 4: Update Any Other Direct Deposit Sources

Your employer may not be your only direct deposit source. Go through your list and make sure you've contacted every organization sending funds to your old account. Common areas people overlook include:

• Social Security or government benefit payments
• Pension or retirement income
• Freelance or contract income payments
• Federal or state tax refunds

Each source will need to be updated separately, so give yourself enough time to work through all of them.

Step 5: Keep Your Old Account Open During the Transition

Leave your old account open and keep enough funds in it to cover any payments, automatic withdrawals, or checks that have not yet cleared. Closing an account too early can lead to overdraft fees or returned payments, which creates more work than the switch itself. A good rule of thumb is to keep the old account open for at least 30 to 60 days after initiating the switch.

Step 6: Confirm Your First Deposit Has Arrived

Once your first direct deposit lands in your new account, log into online or mobile banking to confirm it posted correctly. This is your sign that the switch is working. From here, you can move forward with updating any automatic bill payments or linked accounts that still point to your old account.

Step 7: Close Your Old Account

After at least one successful direct deposit has posted to your new account and all transactions have cleared from the old one, you're ready to close it. Contact your old financial institution to begin that process and request written confirmation that the account has been closed. If there are remaining funds, ask for them in the form of a check or electronic transfer so you can deposit them into your new account.

Switching to Wright-Patt Credit Union^®

Once you've completed the checklist, you're in a good position to make the most of what your new financial institution offers. If you've chosen to bring your direct deposit to Wright-Patt Credit Union^® (WPCU^®), here are a few member benefits worth knowing about.

WPCU offers three checking account options to fit different needs:

• Totally Fair Checking^®: A traditional checking account with no monthly fees or minimum balance requirements
• Checking with Dividends: For members who typically keep $1,000 or more in their checking account and want to earn monthly dividends
• CentsibleSpend^®: A spending account with no overdraft fees and a low monthly fee

All three come with free mobile and online banking access. Members who set up direct deposits automatically receive Partner level status through our Member Choice program, which means better rates and fewer fees simply for using your account the way you intended. Direct deposit also counts toward qualifying for the higher dividend rate on our TrueSaver^® savings account, where members can earn 7.00% APY on their first $1,000 saved. Membership starts with just a $5 share deposit in your TrueSaver^® account.

Ready to make the switch? Become a member today or stop by your nearest Member Center to get started.

Frequently Asked Questions