Step 1 - Open a new Sovereign Bank checking account
Be prepared with 2 forms of ID, one of which needs to be a primary, government-issued picture ID (such as a drivers license or passport), and the other can be secondary such as a birth certificate or a major credit card. The initial deposit to open the account can also be made using the same major credit card. When your account is opened, record the routing number and account number. This will make the next steps easier.
Step 2 - Order new Sovereign Bank Checks and Forms
We make it easy for you to order your new checks and forms through Deluxe. One simple call to Deluxe
, and you can get everything you need, including checks, deposit tickets, and endorsement stamps. A business expert at Deluxe will make sure you have the right products, from the basics to making sure your checks and forms work with your computer bookkeeping system such as QuickBooks®
. You can even customize your checks with your company logo.
Step 3 - Change any automatic payments
Do you have payments such as a utility bill, loan payment, or insurance premium that are being automatically deducted every month from your old checking account or debit card? Make sure to call each of these companies and let them know you've switched banks. They'll let you know how to proceed—some may even let you make the change over the phone.
Step 4 - Change your Merchant Services Relationship
If you accept credit card payments, you'll need to re-direct those daily deposits to your new Sovereign checking account. For faster funds availability and better service, you should also consider switching your merchant account to Sovereign Merchant Services
Step 5 - Close your old account
Once all your checks and automatic payments have cleared, close your old account. Your former bank will send you a check for any balance remaining.
Call us today, and let us help you switch to Sovereign.