How to Switch Banks (and how US Bank is saying that my friend owes $1,800 in overdraft fees)

I know many people are considering switching banks because of all of the new fees and everything else that’s going on. My friend is also thinking about switching from US Bank because they just told her and she owes $1,800 in overdraft fees. She told me that her and her BF have NEVER over-drafted in their lives and she’s trying to fight it but the bank said that in order to help her she would need to pay $6 a month for each statement for the past couple of years in order for them to analyze her statements. I don’t understand why she has to pay this, when they are the ones who need to analyze it? Isn’t that crazy? She’s tried talking to so many people but no one will help. Any ideas for her? She also is going to switch after this whole debacle, but they already took the $1,800 out of her bank, so she wants to wait until she clears that up. I feel like this should be illegal.

Anyways, here are steps to switch banks from Five Cent Nickel:

  1. Make up your mind and find a new bank. Really think about this chance and how it will affect you, and also what you like about the bank you are now considering. Make a pros and cons list.

  2. Change your direct deposits. Contact whoever at your work handles this and switch it. Then for the next couple of pay period, make sure you watch this closely.

  3. Re-establish your other accounts that link up to your old account. This can be savings, Paypal, bills, and so on. Check any auto-debits, insurance premiums, and so on also.

  4. Get new checks.

  5. Sit and wait. Make sure all of your payments and anything else linking up with your new account is working.

  6. Close your old account. I would wait a little bit before closing your old account. The article says a few months, and I think that’s a good amount of time. You want to make sure that you didn’t forget anything.

Do you have any other tips for someone wanting to switch?



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