Is your financial institution meeting all of your business needs? Maybe the interest rates don’t compete, the customer service has taken a turn for the worse, or your company’s needs have simply changed. If the writing is on the wall, you know it’s time to leave. When you know that breaking ties with your current financial institution is the best decision, the choice to move can still be daunting. When you choose to move your business banking to Idaho Central, however, making the switch is easier than you think! Here are some quick tips to help get you started.
Open New Business Accounts
The first step to making the switch is to open your new accounts. At ICCU, we know that businesses need a flexible checking account, a strong savings account, loan options that will help your business reach the next level, and CD options to make your money work for you. ICCU offers many different types of business accounts . Take some time to research the best account options for you, and then make a decision based off of which accounts will best fit your business needs. Once you have decided on the right accounts for you, head over to our New Business Membership Checklist and make sure you have all the documents needed, and then stop by your local branch or use VideoChat to work with a business specialist. We are proud to also offer a personal touch. Our business specialists can help guide you from start to finish, and are always available to answer any questions you may have. We want your experience to be easy and seamless.
Update Automatic Payments
Once you’ve established your new accounts, the next step is to move over any payments and your payroll. Making these changes at ICCU is simple and you won’t need to take multiple trips to the branch. Instead, you can enjoy fast, convenient, electronic access, and originate ACH entries with Business eBranch and Business Bill Payment. Once you’ve updated any payments, you will just need to update any customers who make automatic payments to your business. Make sure they have your new routing and account numbers, so they are able to switch their payments over to the correct accounts.
Stop Using and Close Your Old Business Accounts
We recommend keeping your old accounts open until all outstanding payments have cleared and you have moved everything over to your new ICCU accounts. Once you verify that all your transactions have cleared, close your old account. If you need assistance, an ICCU business specialist can help you write a Letter of Closure to your previous financial institution.
Enjoy Financial Expertise at Your Fingertips
At ICCU, it’s a whole new experience. We work with you as a team. Our specialists know your business and are available to assist you directly. Our team is here to answer any questions and help meet the financial needs of your business.
We have an entire team dedicated to the service and support of our business members here at ICCU. Get in touch with one of our business specialists and see how we can serve you!