Make your hassle free switch to Illini Bank.
Step 1. – Open your New Illini Bank Account:
Open your Illini Bank account and we’ll help you step by step. A Personal Banker at any location can advise you on the accounts and services to fit your needs.
Once your new account is funded, you can begin using your account immediately.
Your check order and Illini Bank Debit Card will be sent to you in about 7 to 10 business days.
Remember: Don’t forget to leave enough funds in your old account to cover any outstanding checks or automatic payments. Our next steps will help you switch any automated payments and direct deposits to your new account.
Step 2. – Transfer Direct Deposits & Automatic Payments
This is one of the most important aspects of making a smooth switch. It’s a good idea to have a few recent bank statements available to review the automated transactions you need to move. We’ve provided new account notification forms for you to use to notify your employer, other direct depositors and any vendors you have authorized to charge your account.
Also, keep in mind:
- Direct deposits from your employer, retirement plan, or other sources of income such as Social Security, need to be transferred to your new account. If you receive Social Security payments, call 1-800-772-1213 to make the switch.
- Automated payments for insurance, utilities and other transactions you have authorized.
- If you are using Online Bill Payment, don’t forget to print a list of your current payees and your payment history. Illini Bank online banking can handle all of your recurring and one-time online bill payment needs.
- For personal assistance contact your nearest Illini Bank location.
Step 3. – Close your old account
Confirm that all outstanding checks have cleared on your old account.
- Verify that your direct deposits have been redirected to your new account.
- Check with any payees who have not redirected your automatic payments.
- Use the Account Closure Form to notify your old bank that you are closing your account.