Let the State Bank of Faribault help you with changing your accounts hassle-free. To assist you with this process, we've put together all the necessary forms into one convenient packet. You can print the forms, fill them out and mail them to the correct companies to make the switch to your new account.
1. Transfer a Direct Deposit to your new SBF account
Complete this form to switch your Direct Deposit from your employer
2. Transfer your automatic payments to your SBF
If you have any monthly payments, such as utility or loan payments automatically deducted from your account you can use this form to switch them to come from your new SBF account. Please leave enough money in your old account to cover your payment just in case the payee doesn't switch right away. It generally becomes effective on your next payment, but each company is different.
3. Close Your Old Account
Destroy checks, ATM/debit cards and deposit slips from your old bank when you receive your SBF debit card and checks. Let outstanding checks or automatic payments clear. This may take over a week. Print an Account Closing form to notify your old financial institution to close your account. Fill it out and present it to your old bank.
Helpful Phone Numbers and Web Links:
We are excited to have you as our newest customer!!
If you have any questions or need additional assistance please contact a Personal Banker or call us at 507-332-7401.