Automatic Payments/Transfers Checklist – Create an inventory of the bill payments and transfers you'll need to switch to Fifth Third. While filling it out, think about which payment method works best and whether you wish to make any changes.
Plan for Outstanding Expenses – Make sure you leave enough funds in your old account to cover outstanding expenses. Determine how much you will need to leave in your old account until outstanding expenses clear - don't close your old account immediately.
Step 3: Set Up Your Direct Deposits
Direct Deposit Authorization Form– Complete and send the direct deposit authorization form to the source making the direct deposit. Use one form for each source. For your payroll direct deposit, check with your employer's Human Resources department to see if they have their own direct deposit form. If they do, please use it. Otherwise, you can use the direct deposit authorization form and give it to your employer. Deposits typically take effect within three deposit periods.
If you have Social Security or other governmental direct deposit, please go to any Fifth Third Banking Center, and they can set you up.
Step 4: Set Up Your Automatic Payments
Automatic Payment Switch Form - This form will notify third parties (like your cell phone provider or electric company) that you wish to have your automatic payment transactions redirected to debit your new Fifth Third Bank account.
Once you're sure all outstanding transactions made against your old account have cleared, you will want to let your old bank know you're closing your account. Be sure to destroy any checks or debit cards associated with your old account.
Do You Need Help?
anytime during the application process.