Changing Banks is a PITA–Nerve-Wracking!

Changing banks is a nerve-wracking pain-in-the-arse process.


In my case, it isn’t just a matter of closing accounts at one bank (Heritage), getting a cashier’s check, driving it over, and opening new accounts at the credit union (BECU).


It’s a matter of informing numerous auto-deposit and auto-withdrawal entities of the switch and giving everyone ample time to transition from Heritage to BECU (Boeing Employees Credit Union).


So, right now I’m at both banking entities.


I had to make a list of all the online banking arrangements I have–Social Security, pensions, vendors (Amazon, phone companies, etc.), Medicare, income generators/aka employers (Scholastic, Upwork, Thumbtack, Amazon/KDP, CMT, etc.).


Then I had to inform them all of the change in banks. They all required different ways of reporting bank changes.


So, I have to keep Heritage amply-funded until my Social Security and Medicare payments can be rerouted to the credit union. (That takes 45 days, apparently.)


The good news is that the BECU credit card has a one-year interest-free introductory grace period. So, I was able to pay my federal taxes on it and I’ll be able to pay it off in just a few months.


I’m getting rid of my one other credit card at the end of this month. Then I can close the credit union  account I’ve had in California for ages and transfer that balance (which isn’t even $110) to BECU.


To make all this happen, I had to take the freeze off the credit reporting agencies for one day so the credit union could confirm my credit-worthiness.


Being severely math-challenged, this whole process has been anxiety-producing for me:


  • I have to keep track of what’s coming in (and from where and when) so I keep enough in both banking institutions that I don’t screw up something
  • I have to keep track of what’s going OUT of each institution so I don’t get an overdraft


It’s unsettling, to say the least. I’m right-brained. All this left-brain activity wears me to a frazzle!


So far, my calculations have been good; I haven’t messed anything up. I consider that a minor miracle!


I will be sooooooooo glad when it’s all over and all my ducks are in the same pond.


I can certainly see why a lot of people stay with the banking entities they’re with even when they aren’t delighted with them. Changing banks can feel like more trouble than it’s worth until the process runs its course.


I hope this is the last time I have to change banks.  The process scares me pretty much spit-less!

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