If you've had time to look over some of the advantages of opening up an account with First Bank & Trust, then you've noticed the many perks that we offer.
However, you may not be sure if you want to go through the hassle of switching accounts. As everyone knows, changing accounts takes a lot of time and effort - at least, it used to.
What is ClickSWITCH?
ClickSWITCH is a service that was specifically designed to make it easy for people to switch accounts from one financial institution to another.
The way it works is simple. You log in to the ClickSWITCH portal; through that portal, you'll then choose any direct deposits going to your old account as well as any automatic payments you have set up at your old account. You can then switch them to your new account.
The entire process takes as little as ten minutes to complete. This eliminates the amount of time and effort that it would have taken to individually call every organization that direct deposits money into your old account or collects automatic payments from your old account in order to switch them to your new account.
Not only will you be all set to go, but you won't even have to go to your old bank to close your old accounts - you can even choose to have ClickSWITCH initiate the closing of your old account for you.
Last but not least, they offer a Balance Assist service, which recommends how much money you should leave in your former bank account to ensure that you have the funds needed to cover any automatic payment withdrawals before the switch takes place.
Switching Accounts with ClickSWITCH
Now that you realize how easy it is to switch to a First Bank & Trust account from your old account using ClickSWITCH, you're probably wondering how you actually do it. The following is everything you need to know about using ClickSWITCH to switch to a First Bank & Trust account:
Obtaining ClickSWITCH access
If you already have an account at First Bank & Trust and are ready to switch from your old account, all you need to do to get started is to call one of our Customer Service Representatives to receive a SwitchTRACK code that you can use to access ClickSWITCH from home. Or feel free to stop by one of our branches and have Customer Service Representative assist you with the process.
If you do not have an account with us yet, then you'll want to open an account at one of our branches or from the convenience of your home via FirstWallet. Once you've opened an account, one of our Customer Service Reps will provide you with the SwitchTRACK code you need. Once you have the code, all you have to do is log into the ClickSWITCH portal where you can begin providing the information necessary to begin the switch.
Keep in mind that the SwitchTRACK code is only valid for 90 days. If 90 days have passed and you haven't used the code yet - or you've lost your code at any time - then you can simply request a new one.
How much time does it take to switch accounts?
Switching direct deposits and automatic payments won't be instantaneous. Depending on the organization depositing or withdrawing money, the time it will take for the switch to go through varies.
The following are some of the different types of automatic payments and direct deposits and how long it will take for their switch to process:
- Social Security direct deposits - It generally takes anywhere from two weeks to 30 days for your Social Security direct deposits to switch from your old account to your new First Bank & Trust account. In some cases it can take upwards of 60 days, depending on various factors.
- Other direct deposits - Direct deposits take a little longer to switch than automatic withdrawal payments. This is because of pay period cycles.
- Automatic withdrawal payments - Like direct deposits, the switch can take up to 60 days to take place. Keep in mind: The switch will begin processing on the day you submit the switch request via ClickSWITCH as long as it's before 4:00 PM. If it's after 4:00 PM when you make the request, it will begin processing the following business day.
The length of time it actually takes for the biller or depositor to make the switch depends on the biller or depositor and their process.
Switch confirmation
The confirmation on whether the switch has been processed successfully depends solely on the depositor or biller. However, ClickSWITCH does provide companies with the ability to keep you updated on the switch process.
Closing your old accounts
You may want to wait until the switch is complete and you've received confirmation before you begin closing your old accounts. However, you can have ClickSWITCH initiate the closing of your old account for you.
Easily Switch Bank Accounts Today
If you want to take advantage of the many benefits of using First Bank & Trust, from our full-fledged online banking features to our mobile banking capabilities, then making the switch from your old bank account is easy when you use ClickSWITCH.
ClickSWITCH is a hassle-free solution that allows you to switch your direct deposits and automatic payment withdrawals to your new First Bank & Trust account within minutes.
For more information about switching accounts or for information about our online banking capabilities in general, be sure to contact us at First Bank & Trust today.