At Bremer Bank, we provide you and your business with the financial instruments that help drive your growth and success. That starts with this Business Banking Switch Kit, designed to make switching your business accounts smooth and seamless. It’s just one example of our commitment to exceptional client service, along with the products and services to help you achieve your financial goals.
In this kit you’ll find:
• Helpful information on how to proceed.
• Handy worksheets to keep track of account information, automated deposits and automated payments.
• Letters to redirect your automatic deposits, payments and payroll processing service through your new account.
• A worksheet to reconcile your old account.
• An account closing notification letter for your former bank.
If you have any concerns or questions about switching your accounts, please call us at 1-800-908-BANK (2265), or stop by any Bremer Bank.
Welcome to Bremer Bank
Business Banking Switch Kit
Our business bankers will work closely with you and make recommendations based on your needs.
Bremer Bank is committed to learning about your business and providing you with special tools and banking privileges that can make all the difference in your future.
We can help you prosper A change for the better
Let’s Get Started
Bremer Bank offers quick,
convenient and powerful electronic options to help you manage expenses.
• Pay and receive bills online with Bill Pay for Business. Specially designed with businesses in mind, it’s fast, easy and secure. • Use your Business Debit Card
to easily pay all kinds of company bills like phone service, utilities and insurance premiums. • Set up other automated
transactions to electronically process through your accounts. Automatic Payment Options Now that you’ve opened a new business account with Bremer Bank, you’ll want
to get organized to make the transition go as smoothly as possible. Simply download this document and follow the five steps.
Step 1.
Business Switch Kit Worksheets
Take a few minutes to gather all available information about the transactions you need to transfer. You might want to use your register or recent statements to identify everything.
Use the convenient worksheets found on pages 4 and 5 to organize information such as:
• Automatic Deposits
Examples:
- Commissions - Reimbursements
- Dividends - Tax Refunds
- Interest Payments from Clients • Automatic Payments
Examples:
- Auto Loan/Lease - Mortgage/Rent - Cell Phone - Payroll Processing - Insurance Payments - Supply/Vendor Payments - Merchant Card Processing - Utilities
• Other regular monthly payments for which you currently write checks and would like to set up as an automatic payment, bill payment or debit card payment.
Determine how you will contact these businesses: • Call the company to make the switch.
OR
• Log on to the company’s website and enter the change request online.
OR
• Send a letter to the company to transfer transactions.
All the Tools You Need
Step 2.
Client Information Form
Fill out the Client Information Form with your Bremer Bank business account information. This data will “pre-fill” fields used in other forms going forward.
Step 3.
Form Letters
If
you are not mailing any transfer letters proceed to Step 4
Complete and mail the request to transfer letters as needed: • Request to Transfer Direct Deposit
• Request to Transfer Automatic Payments
• Request to Transfer Payroll Processing (used for third party payroll vendor) Note: If you have multiple companies to contact, you will need to update the payment information on the form letter and then print for each transaction. Repeat this process until all letters are printed.
Step 4.
Reconciliation Worksheet
Use this worksheet to reconcile your old account to ensure that direct deposits, payroll processing and automatic payments are being made to your new Bremer Bank account.
Step 5.
Account Closing Request Letter
Once all of the automatic transactions are being processed through your new account and all of the transactions have cleared your old account, send the account closing request to your former bank to close your account.
Member FDIC
Direct Deposits - Companies that make automatic deposits into your account.
Deposit Company /Phone Account Number Amount Date of Deposit CompleteSwitch
Example Star Realty / 999-999-9999 #12345678 $125.00 15th of month
✔
Commissions Dividends Interest Reimbursements Tax Refunds Notes
Use this form to record information for companies that will be making automatic deposits into your new Bremer Bank account, including verification that the switch was made.
Direct Deposits
Automatic Payments - Companies that make automatic deductions from your account.
Payment Company /Phone Account Number Amount Payment Date PaymentMethod* CompleteSwitch
Example ABC Car Company / 555-555-5555 #8765432 $281.63 the month28th of Bill Payment
✔
Auto Loan/Lease Cell Phone Credit Cards Insurance Premiums Internet Mortgage/Rent Utilities Notes Member FDIC
Use this form to record information for companies that will be making automatic deductions from your new Bremer Bank account, including when and how you requested the change and your preferred method of payment. NOTE: Consider how you make payments now and whether there are other regular payments that you could make using Bill Pay for Business, Business Debit Card or other automatic payments instead of writing checks.
Automatic Payments
* Automatic payments can be made by Bill Pay, Debit Card, or ACH
Payment Set-Up
To switch each payment, contact the companies you want to make payments to and provide them with your new information. This may be done by using the “Request to Transfer Automatic Payment Letter,” by phone or online at the company’s
website. If you are switching to a Bill Payment or Debit Card payment option, make sure the company cancels any other automatic payment set up.
Bill Payment - Log on to Online Banking and set up the Payee. You’re then ready to use Bill Pay. Debit Card - Contact the company you want to pay and give them your Debit Card information.
Other Automatic Payment - Contact the company you want to pay and give them your new account information.
Member FDIC
Your Business Information
Company Name Address
City State Zip
Phone Number
Contact Name Email Address
Former Bank Information
Former Bank Name
Former Bank ABA Routing Number Former Bank Account Number
Bremer Bank Information
Bremer Bank ABA Routing Number Bremer Bank Account Number
Bremer Bank Address
Notes
Notes
Start with the basic information about your company, your past banking relationship and your new account with Bremer Bank. Filling out this information will pre-fill the same information on the following forms, saving you valuable time.
Get Ready to Switch
Date
Deposit Originating Company Name Address
City State Zip
To whom it may concern:
This letter serves as a request to have our Direct Deposit transferred to our new account with Bremer Bank. Our information is as follows:
Account Number With Deposit Originating Company (if applicable) Our Company Name
Address
City State Zip
Phone Number Email Address
Contact Name
The Direct Deposit is currently being deposited to the following account: Former Bank Name
Former Bank ABA Routing Number Former Bank Account Number ❍ Checking ❍ Savings Please redirect the Direct Deposit to our account with Bremer Bank as follows:
Bremer Bank Address
Bremer Bank ABA Routing Number Bremer Bank Account Number ❍ Checking ❍ Savings Make this change effective: / /
Special Instructions (Optional) Sincerely, Signature Print Name Title Date Member FDIC / / / /
Date
Payee Company Name Address
City State Zip
To whom it may concern:
This letter serves as a request to have our Automatic Payment transferred to our new account with Bremer Bank. Our information is as follows:
Account Number With Payee Company Our Company Name
Address
City State Zip
Phone Number Email Address
Contact Name
The Automatic Payment is currently being withdrawn from our account with: Former Bank Name
Former Bank ABA Routing Number Former Bank Account Number ❍ Checking ❍ Savings Please redirect the Automatic Payment from our account with Bremer Bank as follows:
Bremer Bank Address
Bremer Bank ABA Routing Number Bremer Bank Account Number ❍ Checking ❍ Savings Make this change effective: / /
Special Instructions (Optional) Sincerely, Signature Print Name Title Date Member FDIC / / / /
Date
Payroll Processing Service Company Name Address
City State Zip
To whom it may concern:
This letter is to inform you that we recently changed banks. Effective ________/________/________, please stop processing our payroll from our old bank account and begin processing our payroll through our new Bremer Bank account. Our information is as follows:
Account Number With Payroll Processing Service Company Our Company Name
Address
City State Zip
Phone Number Email Address
Contact Name
The payroll is currently being withdrawn from our account with: Former Bank Name
Former Bank ABA Routing Number Former Bank Account Number ❍ Checking ❍ Savings Please begin processing through our account with Bremer Bank:
Bremer Bank Address
Bremer Bank ABA Routing Number Bremer Bank Account Number ❍ Checking ❍ Savings Special Instructions (Optional)
Sincerely, Signature Print Name Title Date Member FDIC / / / /
Checks & Debits Outstanding - Checks that have been written and purchases that have been made but are not shown on statement.
Check Number, Debit or Payment Amount
Total of checks outstanding $
Reconciled as of / / ENTER Statement Balance $
ADD Deposits made after Statement Date + + + Total $ Total of Checks Outstanding –
Bank Balance $
Should agree with your checkbook balance after deducting charges and adding credits listed on statement but not shown in checkbook.
Member FDIC
Before you close your old account, you’ll need to make certain that all checks have been paid, and that all of your automatic direct deposits and payments are being received in your new Bremer Bank account. You can reconcile your old account below to verify that all entries you expected have cleared.
Date
Financial Institution Name Address
City State Zip
To whom it may concern:
This letter serves as a request to close the following account number(s):
Account Number ❍ Checking
❍ Savings
Name on Account
Account Number ❍ Checking
❍ Savings
Name on Account
Please send a check for the remaining balance to: Our Company Name
Address
City State Zip
If you have any questions please contact me at this phone number
Contact Name Sincerely, Signature
Print Name
Title Date
Joint Signature (if needed) Print Name Title Date Member FDIC / / / / / /
