Follow these easy instructions to guide you through the account transfer process.
- Open your new deposit account and check card (if applicable)
- Before you close your existing account you will want to make sure your new one is open and ready for your use. Your new account number will be needed before you can change any electronic entries such as direct deposit or direct debit to your new account. A member of our branch staff will assist you in choosing the account that's right for you.
- Complete the necessary paperwork to open the new account, ATM, or check card and order your checks.
- After your account is established, you can sign up for online banking and verify account activity.
You are now ready to transfer your former account to your new account.
Send written notice to your direct deposit vendors
(i.e., payroll deposits, Social Security payments, interest income)
Use our Direct Deposit Change Notice (FORM #1) to notify businesses or organizations that are depositing funds into your checking or savings accounts of the bank change. Many government agencies, including Social Security allow you to change your direct deposit over the phone. A list of agencies and their phone numbers are as follow:
- Social Security Administration: 800.772.1213 or online at www.socialsecurity.gov/deposit
- Veterans Administration: 800.827.1000 or 877.838.2778 or download the online form www.fms.treas.gov/eft/1199a.pdf and mail to: VA National Direct Deposit Center, Suite B, 125 S. Main St., Muskogee, OK 74401 or fax to: 918.781.4395
- Army, Navy, Air Force, Marines Retirement: 800.321.1080
Civilian and military personnel, use SF1199A to change a direct deposit. - PA Unemployment: 888.313.7284 or online at www.paclaims.state.pa.us/UCEN/Welcome.asp
- PA Department of Public Welfare: 800.248.2152 or online at www.dpw.state.pa.us/provider/index.htm
Note: Some companies may require that you complete their authorization form before the change is completed. Employers may also pay you by check until the change notification is submitted.
Send written notice to your Direct Payment Vendors
(i.e., insurance premiums, health club membership fees, mortgage payments, loan payments, utility payments, etc.)
Use the Direct Payment Change Notice (FORM #2A) to notify businesses or organizations who are deducting direct payments from your current checking account that your account is changing. Use the Direct Payment Change Notice for Check Card Deductions (FORM #2B) if your deductions are being taken from your check card.
Send written notice to the financial institution where you are closing your account.
After you have changed your direct deposit and payments and have verified that all your checks have cleared on your old account; you are ready to close it. Use the Deposit Account Closure Notice (FORM #3) to make notification. Write a check for the balance that remains in your account and deposit it in your new account at National Penn (or division) Bank. Make sure that you verify the ending balance on the final bank statement from your old account is zero and the account has closed.
We recommend that you keep your current account open until you can verify that
the direct deposits are switched to your new National Penn Bank (or division) account.