Follow these “Steps” to make the process easier
We have also included some important items and information you will want to bring with you to make the process quicker and easier.
Step 1 – Open a new Farmers Bank of Milton Account
When you come into any of our four offices to open a new account, there are some things you want to bring with you. Some things are fairly elementary, others are required by the USA Patriot Act:
- Name, address, phone numbers and Social Security Number for each person you intend to put on your account as an owner, signer and beneficiary on your account.
- Two (2) forms of identification for each person you intend to put on your account as an owner or signer, with at least one being a picture identification. You will want to make sure the address on your identification matches your current mailing address. If it does not, you have the option of bringing a canceled mail item from a non-personal entity to verify your current address. This could be your utility bill for that residence or mail to you from the U.S. Government.
- Please be advised that a credit check will be run when you open a new account.
- Be sure to ask about all services that are offered with a new Farmers Bank of Milton account. MasterMoney ATM/Debit Cards, Online Banking & BillPay, Mobile Banking and automatic transfers from account to account just to name a few.
Step 2 – Transfer Direct Deposits and Automatic Payments
One of the most important items to remember is to notify the people you currently make payments to and receive deposit from that you have changed banks. You should probably review some of your past statements to be sure that you remember them all.
- Direct deposits from your employer, pension or other sources of income such as Social Security need to be notified of your new account.
- Automatic payments for insurance, utilities or other services will also need to be notified. Don’t forget that insurance bill that is only deducted annually, and hasn’t been deducted since almost eleven months ago!
- If you are using Online BillPay at another institution, you might want to print out a list of the merchants you are currently paying. The payment history may be helpful in your change too.
Step 3 – Close your old account
When your new Farmers Bank of Milton is opened and ready to go, you can close your previous account.
- Confirm that all your outstanding checks have cleared your previous institution.
- Verify that your direct deposits have been redirected to your new account.
- Check to make sure your merchants are deducting your automatic payments from your new account. It may be necessary to call and remind them that you have a new account.
- Make sure that you got all your merchant information from your previous Online BillPay. Once you close your account the information is sometimes impossible to access online. Get it before it’s gone!