Lyndon State Bank is dedicated to serving YOU, our customer and our community because we live and work here – just like you.
Our purpose is to help our customers achieve their dreams. These days we all have busy lives! So, here at Lyndon State Bank we are constantly seeking new ways to make banking with us easier and more convenient. This LYNDON STATE BANK Switch Kit is just one more way we are working to make your life simple. So...why not make the switch on over to Lyndon State Bank?
Follow these 5 easy steps in the Lyndon State Bank Switch Kit and start enjoying the benefits of hometown banking!
- Step 1: Open a Lyndon State Bank Checking account! See a Customer Service Representative at one of our 3 convenient locations. They will help determine which account(s) fits you best. To make the process even faster, complete the Customer Information Sheet while you are in to open your Lyndon State Bank account.
- Step 2: Stop using your previous checking account. Allow time for outstanding checks to clear. Shred or properly destroy your ATM and/or Debit cards, any unused checks, and deposit slips. Or, bring them in and we can shred them for you.
- Step 3: Let Lyndon State Bank switch your Direct Deposit(s), or you can move them yourself with this helpful information. Identify the automatic deposits that you would like to switch to Lyndon State Bank. Use the Direct Deposit Request to make this process fast and easy!
- Step 4: Allow Lyndon State Bank to transfer any Automatic Payments and Debits you currently have, or you may complete the form yourself. Use the Automatic Payment Request to assist you in quickly making the switch.
- Step 5: Close your previous checking account after all checks have cleared. Use the Account Closing Request to close your previous checking account.
Direct Deposit Request Instructions
Automatic Deposits are recurring payments that are automatically deposited into your account on a regular basis. For example, payroll, social security, VA Compensation, Retirement/Pension, Interest Income, Dividends, Military Pay, alimony, child support or disability payments.
Direct Deposits completed by us:
After you have identified the Direct Deposits from your previous bank statements, complete the Direct Deposit Request. This enables Lyndon State Bank to make the requests for you to notify the depositor of our information.
It’s as easy as 1-2-3:
- Identify all Direct Deposits you would like to switch.
- Fill out the Direct Deposit Request and sign the form.
- Confirm your automatic deposit is being deposited before you close your old account.
Direct Deposit completed by you:
After you have identified the Direct Deposits from your previous bank statements, use the Direct Deposit Request to notify the depositor of your new Lyndon State Bank information. Before you send in your request:
- Provide the enclosed Direct Deposit Request to establish your direct deposit at Lyndon State Bank by our employer/source of income. Make sure to check and see if any other forms are needed by your current institution. Many times they need a voided check or deposit slip.
- Complete a separate form for each recurring automatic deposit. Don’t forget to sign and date the request.
- Send the request to each company that is currently authorized to make deposits to your account.
Maintain the account at your previous institution until you have confirmed that your Direct Deposit(s) has been switched to your new Lyndon State Bank account. For Social Security direct deposit call the Social Security Administration at 1-800-772-1213 or go to www.ssa.gov/deposit/howtosign.htm.
Automatic Payment Request Instructions
Automatic Deductions are recurring payments automatically withdrawn from your account on a regular basis (example: consumer or mortgage payments, insurance premiums, cell or phone payments and utility payments).
Automatic Payments completed by us:
After you have identified the Automatic Payments from your previous bank statements, use the Automatic Payment Request so that we can make the requests for you to notify the merchant of your new bank information. We will make the requests for you when you come in to open your account. Remember, you can also manage your payments with Lyndon State Bank’s FREE Online Banking and Online Bill Pay.
It’s easy as 1-2-3:
- Identify any existing automatic payments you would like to change.
- Use the enclosed form to request that your automatic payment be established at Lyndon State Bank. Don't forget to sign and date your request form.
- Maintain the account at your previous bank until you have confirmed that the automatic payment has been switched to your new account at Lyndon State Bank.
Automatic Payment Request completed by you:
After you’ve identified the Automatic Payments from your previous bank statements, use the Automatic Payment Request to notify them of your new bank information. Before you make the requests to notify the merchant of your new bank information you might want to check to see if they require a voided check or deposit slip along with the Automatic Payment Request form. Don’t forget you can also manage your payments with Lyndon State Bank’s Internet Banking and Online Bill Pay. Maintain the account at your previous bank until you have confirmed that all your Automatic Payment(s) has been switched to your Lyndon State Bank account.
Maintain the account at your previous bank until you have confirmed that all y our Automatic Payment(s) have been switched to your new Lyndon State Bank account.
Account Closing Request Instructions
Before sending the Account Closing Request:
- Check with your previous bank to make sure no additional forms or information are required.
- Inquire about any possible penalties with respect to early withdrawal before you close your account. If you have Certificate of Deposit (CD’s), it is important to check the maturity dates.
- Be sure that all automatic transactions have been switched to your Lyndon State Bank account before closing your old account.
After you’ve sent the Account Closing Request:
1. Check account statements to verify that all accounts have a zero balance and have been closed.