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Moving Problem

Personal Budgeting Forum Index > Financial Planners: What are my options? > Moving Problem
 
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mover
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Joined: 12 Oct 2004
Posts: 1

PostPosted: Wed Oct 13, 2004 12:09 am    Post subject: Moving Problem Reply with quote

Sorry if this is a little off topic but this is the only place I have found that might answer my question.

I am very soon moving to another state. My question is what is the best way to handle transferring bank account money? What are my options?

So far all I can think of is to put my money into Bank of America for a time because it seems like it would be easier to transfer and have control over.

If I left some money in my existing account for ATM purposes could I later simply write a check to my new account to close the old account?

What should I look for in a new bank? What is the best way to find one? What are the pitfalls?

I would surely appreciate a bit of education in this matter!

Thank you.

Richard
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strife
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Joined: 03 Nov 2003
Posts: 33

PostPosted: Wed Oct 13, 2004 1:33 pm    Post subject: Reply with quote

If the bank you are with is a national bank, than really there is not a lot you need to do other than update your address and other personal information on the account.

If you currently use a bank or credit union with only local branches, and you plan to do the same thing in your new city.. then yes, its a little more complicated. But you still have few choices.

1) open an account at a national bank to use while you are moving and getting settled. Close it and your old account after you've selected your new local branch.
2) use a credit card for any expenses you incur before you open your new account. Once your new account is open, pay off your credit card in full and close the old account from your former bank.
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