Switch Kit FAQ
What is a Switch Kit?
A Switch Kit is a free service that allows you to close an account with another financial institution and transfer the funds to a new account (this account must already be set up). You can also switch any direct deposits and automatic payments (ACH) form your old account(s) over to your new account. The Switch Kit contains a series of easy to follow steps, along with the necessary forms to fill out and mail to all respective parties.Who can use the Switch Kit?
Do I have to be a member to use the Switch Kit?
Yes, you do have to be a member so that we know where to send all of your payments, debits and funds.
What information will I have to know when filling out the Switch Kit?
You will need the following: Your current account number where you are transferring the funds from. Your new account number where you are transferring the funds to. Name, Address, Account Number of Direct Deposit and Automatic Payment (ACH) companies that you currently are using.
I cannot find my account number on my check, where is it?
Your account number is located at the bottom of your check. The routing number is the first number listed and it is 9 digits. The second set of numbers is your account number. The last number listed is the actual check number.
Do I have to have a Direct Deposit or Automatic Payment (ACH) to fill our the Switch Kit?
No, you can simply just close out a current account and move the funds to a new account. The Direct Deposit and Automatic Payment (ACH) transfers are optional.
What do I do with the printed forms?
All the forms are clearly marked and you are also given a checklist to assist you with the forms.
What do I need in order to view the forms?
The forms are displayed in Adobe PDF format. You can download a free version of this application in order to view the forms. If you do not have Adobe Acrobat Reader installed on your computer, you will need to download the reader. (http://get.adobe.com/reader/)
Who can I contact if I need help?
Bring them into any of either of our convenient locations (link to address page) and we will help you quickly and easily make the switch to First Abilene Federal Credit Union.
What is Direct Deposit?
Direct Deposit is an automated method of payment that electronically credits your checking or savings account. Typically, direct deposits come from an employee receiving pay or a Social Security beneficiary receiving benefits.
How do I get direct deposit for my paychecks at work?
Contact your employer directly to see if they offer direct deposit as an option to receive your pay checks. Please note that not all places of employment offer direct deposit and may only distribute paper checks by mail or in person.
I prefer to use an electronic form of bill paying for my recurring payments, like my utility bills and gym membership. Is there a tool for me to set this up?
Yes. We offer FlexTeller online banking and 1st Pay bill pay, which will help you set up all of your bill payments in only minutes. Once you enroll in 1st Pay and enter all of your bills, we take care of paying them for you when you want them to be paid. It is the safest and easiest way to pay your bills!
What is an ACH payment?
An ACH payment stands for Automated Clearing House, which is a secure electronic network that connects U.S. financial institutions for the electronic transfer of money.
How do I use the Automatic Payment Change form?
Use the form to set up an automatic payment for your monthly bills, like your utility bills or gym membership. Fill out all applicable fields on the form, and take it to or send it via mail to the merchant in which you will be setting up the automatic payment, along with a voided check from your new First Abilene Federal Credit Union account.
How do I change my Social Security direct deposit?
You will need to contact Social Security at ssa.gov/deposit/howtosign.htm or call (800) 772-1213 to change your direct deposit.
How long will this process take?
It may take several pay periods or billing cycles to have your bank account switched. Ask your employer how long the process takes, and schedule things accordingly.