Thought switching existing direct deposits and transfers was difficult?
Think again– South Carolina Federal Credit Union anticipated your needs for a simple solution. You can now enter key information and we create the letters you need to send to financial institutions, businesses and employers. That’s Life Simplified!
You can:
- close your existing bank accounts and transfer funds to your South Carolina Federal account
- switch your automatic transfer (also known as an ACH) from your old bank account to your South Carolina Federal account
- switch your direct deposit to your South Carolina Federal account
Simple steps to switch:
Step 1 – Gather all of your direct deposit and account information by using this convenient Pre-Transfer Worksheet .
For your security, information entered is not saved, so please be sure you have all of pertinent information when you begin.
Step 2 – Enter your South Carolina Federal account information and select if you would like to close accounts, change automatic transfers and payments, and/or change direct deposits.
If you don't have a South Carolina Federal account or need to open a new account, you can open one online now.
Social Security direct deposits: contact the Social Security Administration at 800-772-1213 or visit www.ssa.gov.
Military direct deposits: visit myPay.
Step 3 – Enter your previous financial institution to close your old accounts, information to change automatic payments and employer information to change direct deposits.
This would include information for companies that make electronic withdrawals from your account or direct deposits to your account. This includes automatic debits (ACH) or automatic charges to your debit and/or credit cards. Common uses of automatic debits include rent/mortgage, utilities, phone, and cable bills. Direct deposit includes payroll, taxes, retirement and pension plan accounts, or expense reimbursements.
Step 4 – Print, review, sign and mail forms. You also receive a handy check list to keep track of when you mailed the letters and when the accounts were closed or switched.
Don’t forget: Switch your online bill pay service from the previous financial institution, be sure to cancel each payee and then add them to your South Carolina Federal iTeller Payment Manager (online bill pay service).
