Checking Account Switch Kit

Transcription

1 Checking Account Switch Kit Tired of paying fees just to have a checking account? If so, it s time to switch your checking account to your credit union where you get FREE Checking with NO surprises! The forms you will need to make the switch follow this instructions page. Print the forms you ll need and follow the quick steps below to switch your checking account to Your Credit Union. 1. Open Your Checking Account. Complete a checking account application. Be sure to a) Select the accounts you wish to use for Overdraft Protection and b) Check the Opt In or Opt Out box regarding Overdraft Privilege. Get details on Overdraft Protection and Overdraft Privilege on our Website or call our Member Service Call Center at Return your application to us, either in the mail or by dropping it off at your nearest credit union branch office. If someone will be joint on your checking account, be sure to include their personal information in the body of the form and have them sign at the bottom, just below your signature. Note: Checking accounts are opened following a Check Systems History report. Proceed with the following steps after you have been notified that your Credit Union checking account has been approved. 2. Switch Your Direct Deposit. If your employer is sending your paycheck directly to your current checking account (or a savings account) at another financial institution, use the Authorization to Switch Direct Deposit form to notify your employer to begin sending your paycheck directly to your credit union. If you work more than one job with direct deposit, print one for each employer. 3. Switch Your Automatic Payment Drafts. If you have automatic payments (insurance, loans, utilities, club dues, etc.) drafted regularly out of your current checking account, use the Instructions to Switch Payment Drafts form to notify the payee to stop drafting your current financial institution and begin drafting your checking account at your credit union. Print one copy for each payee. 4. Close Your Accounts At the Other Financial Institution. Use the Instructions to Close Account(s) form to send to your current financial institution instructing them to close your account and transfer any remaining funds to your credit union. Print as many as you need for multiple financial institutions. If you have questions or need assistance, please call our Member Service Call Center toll free at

2 SUMMIT & AFFILIATE CREDIT UNIONS 8210 West Market Street Greensboro, NC or Primary Owner Name (first/middle/last) Account Number Social Security Number Membership Account Card Date Opened Street Address City / State / Zip Driver License or ID Number: Post Office Box City / State / Zip State and Date of Issue: Home Phone Date of Birth Account Restriction Password (Optional) Expiration Date: Employer Business Phone / Extension Male Female Address DESIGNATION OF JOINT ACCOUNT OWNER (joint owner must sign below) Joint Owner Name (first/middle/last) Social Security Number Date of Birth Right of Survivorship Election By signing below you do do not elect to create the right of survivorship in the account. PLEASE SELECT FROM THE FOLLOWING PRODUCTS/SERVICES Primary Savings Christmas ATM Card Free Checking Special Savings Visa Debit Card Business Checking Certificate term Audio Response (Call 24) Money Market Investor Certificate Home Banking-24 Money Market Investor Certificate Term. months E-Statements (i.e. 6, 9,12,15,24,27,36, or 39 months) IF YOU OPEN A CHECKING ACCOUNT, PLEASE SELECT FROM THE FOLLOWING OVERDRAFT PROTECTION / PRIVILEGE OPTIONS. Please make your selection(s) by indicating the sequence order desired in the ( ) sections below Visa Credit Card SFX: ( ) Share Account SFX: ( ) Line- of- Credit SFX: ( ) Money Market Account: ( ) Overdraft Privilege: Home Equity LOC SFX: ( ) ( ) Accounts SFX: ( ) Opt IN or Opt OUT Note: Refer to your Membership Disclosure Booklet and Truth In Saving s Disclosure Supplement for special conditions and terms. TIN CERTIFICATION AND BACKUP WITHHOLDING INFORMATION By signing below, I certify, in accordance with IRS W-9 instructions provided by the Credit Union and under penalties of perjury, that the Social Security Number (SSN) Taxpayer identification Number (TIN) shown is my/the correct identification number and I am NOT, unless designated below, subject to backup withholding because I have not been notified that I am subject to backup withholding as a result of failure to report all dividends or interest, or because the IRS has notified me that I am no longer subject to backup withholding. I am subject to backup withholding. Exempt I am not a United States citizen or resident (complete W-8 form). AUTHORIZATION By signing the application below, I certify that the information provided on this form is true, correct, and complete. I also agree to the terms and conditions of the Membership and Account Agreement. *The Primary Owner signature is required to be verified by an employer representative or provide us a copy of a Driver License or Identification Card if he/she cannot be present at the Credit Union for signing. Primary Owner Signature Date Joint Owner Signature Date Please provide copy of your Driver License or Identification Card or have your Employer Representative verify your signature: Employer Representative Signature Date

3 INCORPORATED BY REFERENCE "EACH OF THE PROVISIONS SET FORTH, ON THE REVERSE SIDE, AND IN THE MEMBERSHIP AND ACCOUNT AGREEMENT ARE PART OF YOUR TOTAL ACCESS MEMBERS SERVICE PLAN. YOU HAVE READ AND UNDERSTAND THE MEMBERSHIP ACCOUNT AGREEMENT FOR EACH SERVICE YOU HAVE REQUESTED. By signing this form, you hereby make application for membership in the Summit Credit Union and agree to subscribe for at least one share. You represent that all information you have provided is complete and correct to the best of your knowledge and you agree to furnish such other information as we may request from time to time. You authorize the credit union to check your credit and employment history, to request and use reports regarding the same, and to answer questions about its credit experience with you. At your request we will tell you whether we ask for a report from a credit reporting service and if so, the name and address of the agency or agencies. You understand that it is a federal crime to willfully and deliberately provide incomplete or incorrect information on any application made to a financial institution whose deposits are insured by a government agency. You acknowledge that you have received a copy of and agree to be bound by the terms of the Membership and Account Agreement, Truth in Savings Rate, Fee and Disclosures, Electronic Fund Transfers Agreement and Disclosure, Funds Availability Policy, and Privacy Disclosure and to any amendments the credit union makes to any of these agreements from time to time, all of which are incorporated herein by reference. You agree to conform to the credit union's bylaws, rules, and policies and procedures now in effect and as amended or adopted hereafter. If you have designated any account to be opened as a multiple-party account with right of survivorship, then on the death of one party to the account, all sums in the account on the date of death vest in and belong to each surviving party as their separate property and estate. By accepting funds we pay into your account (s) or otherwise deliver to you on your behalf, you acknowledge your receipt of money, goods, or services requested by you under the applicable agreement. The foregoing shall apply with regard to any financial service you request now and in the future pursuant to your Membership and Account Agreement. * By signing this form, you certify under penalties of perjury (1) that the number shown on this form is your correct taxpayer identification number (or you are waiting for a number to be issued to you), (2) that you are not subject to backup withholding because (a) you are exempt from backup withholding, (b) you have not been notified by the Internal Revenue Service (IRS) that you are subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified you that you are no longer subject to backup withholding, and (3) you are a U.S. person (including a U.S. resident alien). Certification Instructions: Cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. Cross out item 3 above and complete IRS Form W-8BEN if you are not a U.S. person. IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT AND ID VERIFICATION: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to positively identify you. We may also ask to see your driver s license or other identifying documents. In an effort to protect you and your identity, we may also ask you to show positive proof of identification in connection with all future transactions. INCORPORATION BY REFERENCE AND SIGNATURES Each provision set forth above and on the reverse side is part of you total access member service plan. Before you sign on the reserve side be sure you have read and understand the agreement for each service you have requested. Caution It is important that you thoroughly read the contract before you sign it. The Internal Revenue Service does not require your consent to any provision of the document other than the certifications required to avoid backup withholding.

4 Authorization to Switch Direct Deposit (Please mail or deliver to your company payroll department.) Employee Name Employee ID Social Security No. Employee Address, City, State, Zip Attention Payroll Department I am switching financial institutions and I hereby authorize you to switch my direct deposit to my new checking account at my Credit Union. Direct my paycheck deposit to: Summit Credit Union Routing & Transit No My Summit CU Account Number: (the 10-digit number at the bottom of your checks) Effective Date: As Soon As Possible Specify Date If this letter is not sufficient to change my direct deposit, please contact me and/or send me the necessary forms. If you have questions, please call me at or contact Summit Credit Union at Thank you. Employee Name Signature Date

5 Instructions to Switch Automatic Payment Drafts (Please mail or deliver to each payee that is drafting your current checking account.) To: Name of Payee (utility company, lender, health club, etc.) Re: My Account Number with this Payee Your Name Your Address, City, State, Zip I have recently moved my checking account and hereby instruct you to switch the drafting of my payment to you to my new account at Summit Credit Union. Note that this payment has previously been drafted from my account at, which is now, or soon will be, closed. Summit Credit Union Routing & Transit No My Summit CU Checking Account Number: (the 10-digit number at the bottom of your checks) Effective Date: If you have questions, please call me at or contact Summit Credit Union at Thank you. Print Your Name Signature Date Note that some payees require a voided copy of a check to initiate or change a payment draft. If that is the case with this payee, just write VOID boldly across the face of a check and attach to this letter.

6 Instructions to Close Account(s) (Please mail or deliver to each financial institution where you wish to close accounts.) To: Name of Financial Institution Re: My Account Number with this Financial Institution Your Name Your Address, City, State, Zip I hereby authorize you to close my accounts as listed below: Savings Account Number if Different from Above Checking Account Number if Different from Above Certificate Account Number if Different from Above Money Market Account Number if Different from Above Other Account Number if Different from Above Please transfer any remaining balance via check to: Summit Credit Union, 8210 West Market Street, Greensboro, NC Please include this account number on the check and make note on the check that it is for my benefit. Or transfer remaining funds electronically to: Summit Credit Union Routing & Transit No My Summit CU Checking Account Number: (the 10-digit number at the bottom of your checks) Effective Date: If you have questions, please call me at or contact Summit Credit Union at Thank you. Print Your Name Signature Date