At Cadence Bank, we aim to make the process of switching business bank accounts as seamless as possible. Learn how to make the switch to Cadence Bank in four easy steps.

As a small business owner, you need a financial institution that understands your business’s specific needs—one that provides you with personalized service, transparent communication and a variety of tools and solutions to keep your business running smoothly. After comparing our small business services to those of other banks, we’re confident that you’ll see the benefits of switching to Cadence Bank.

If you’ve been with your existing bank for a while, changing your banking relationship may seem daunting or frustrating. That’s why we aim to make the process as seamless as possible—so you can spend less time filling out paperwork and more time managing your business.

To help guide you through changing your business bank accounts, we’ve divided the process into four easy steps.

1. Open a new business checking account
2. Transfer your bank services
3. Take advantage of our online and mobile banking features
4. Close your old business checking account

1. Open a new business checking account

The first step is to open a new Cadence Bank business checking account. We offer several business checking account options, and we are happy to help you determine which account best suits your business and its needs.

To open your new business checking account, we’ll need your:

• Company name and address
• Tax ID number or social security number
• Home and work phone numbers
• Date of birth
• Current state- or government-issued photo identification
• Taxpayer Identification Number (TIN) confirmed

2. Transfer you bank services

Our small business bankers can provide guidance on how to switch your current bank services over to your new Cadence Bank checking account. When you meet with your banker, bring your most recent bank statement with you. Our team will help you determine what other documents are needed to transfer services.

While you can begin transferring funds as soon as you open your new account, it’s important to keep enough money in your old account to cover any pending payments. Maintaining a balance in your old business account until all checks have cleared will help you avoid overdraft fees and protect you in case there are any delays in the transition process.

You will also want to inform relevant parties of your change in accounts. Creating a list of recurring incoming and outgoing payments can help you stay organized and ensure that you don’t miss anything. Anyone who receives automatic payments from you will need to be notified of your new account and routing numbers—this may include payroll processors, suppliers, software providers and more. If you need help identifying which service providers to contact, our team is happy to help. In some cases, vendors might require written notification of the account switch, but don’t fret. Our team can assist you with tracking down the necessary forms.

3. Take advantage of our online and mobile banking features

All of our new small business clients are enrolled in Cadence Online and Mobile Banking—so you can start taking advantage of the convenience and security of online banking right away, even if your old business account hasn’t officially been closed out yet.

Through our online banking portal and mobile app, you can easily access account balances, deposit checks, transfer funds between accounts, and retrieve bank statements, images and data. You can also sign up for text alerts that give you the up-to-date information you need to effectively manage your business’s finances.

When it comes to online and mobile banking, your protection is our top priority. Our online portal and mobile app are equipped with modern encryption features to keep your finances safe and secure as you transfer your business banking accounts.

4. Close your old business checking account

After any pending checks have cleared and your direct deposits and automatic payments have been updated, it’s time to close your old business checking account. At this point, your final balance will be transferred to your new Cadence Bank account.

Account closing checklist

As it comes time to close your old business checking account, here are a few questions you should ask yourself:

1. Do I have sufficient funds in my old checking account to cover any checks or payments that haven't cleared yet?
2. Have I notified all current depositors to update my direct deposit information with my new account and routing numbers?
3. Have I notified all current payees to update my automatic payment information with my new Cadence account information?

After completing these items, you can transfer your remaining balance to your new Cadence Bank business checking account and send a request to your old bank to formally close out the account. Our team is here to help you fill out any required closing forms.

Make the switch to Cadence Bank

We’re thrilled you’re considering Cadence Bank as your future small business banking partner, and we hope this article has addressed any questions or concerns you had about how to switch your business accounts.

Contact a small business banker to start the process of switching your business checking account to Cadence Bank. With our online scheduling tool, you can also schedule an appointment today.

This article is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the article. The article is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.