Move your small business’s automated deposits/credits to your new Bank of America account
To get started, print and fill out our handy Automated Payment/Deposit Change Request form. Then either fax it or take it to your old bank. It will help communicate how you want to reassign your automatic deposits so you continue to receive funds due to you.
To establish or transfer automated credits/deposits, you need the following information:
- Employer or deposit initiator's name and address
- Bank of America account number
TIP: To find your routing number, you can either:
- Sign in to Small Business Online Banking and click on the show routing numbers link on the accounts details page
- Call customer service at 888.287.4637
- Find it on your new checks
Transfer automatic payments/debits to your new Bank of America account
Next, move your automated payments/debits to your new Bank of America account with the Automated Payment/Deposit Change Request form. Print it, fill it out and then either fax it or take it to your old bank. It will help communicate how you want to cancel or transfer automatic payments so none are late or missed.
To cancel or to transfer automatic payments from your former bank account to your new Bank of America account, you need the following information.
- Copy of your latest statement with your billing information
- Bank of America account number (for transfers)
- Bank of America ACH routing/transit number (for transfers)
- Former bank account information (for canceled payments)
Close your old small business account
- Stop using your former bank account, but be sure to keep enough funds in it to cover any outstanding checks, automatic withdrawals, and automatic payments.
- Balance your books on your old account, making sure any outstanding checks clear before you close it.
- Once your last check, automatic withdrawal, and automatic payment has cleared, you are ready to close your former accounts. Financial institutions require a request in writing including a signature to close an account. Use our helpful Close Account Request form. It may take up to six weeks for your closing request to be processed.
- Remember to destroy your old checks and cards, but save your old financial records for business and tax purposes.
Start using your new checking account
- Enroll in Small Business Online Banking first, and you’ll find setting up most everything else on this checklist is a snap.
- Make deposits to get your account funded at an ATM by transferring funds with Small Business Online Banking, by phone or at a Banking Center.
- Activate your Debit Card by calling the telephone number on your card, at the nearest ATM with your card and PIN, at a Bank of America Banking Center, or by making a purchase with your card and PIN.
- Order checks at bankofamerica.com/checks or by calling 800.234.6147 (English) toll-free if you haven’t received your checks or need additional checks or business deposit tickets.
- Customize Business Alerts to receive a timely email or text message about your account activity. Sign in to Small Business Online Banking to set up alerts.
- Set up free online Bill Pay by adding payees and scheduling payments. Sign in to Small Business Online Banking to pay your first bill.
- Sign up for Overdraft Protection by linking your checking account to your savings account, credit card or line of credit. Call 888.287.4637.