5 Signs It's Time To Switch Your Checking Account
April 14, 2025
Your checking account is one of the most important tools for managing your finances. Yet, millions of people stick with accounts that no longer support them. In fact, up to 65% of Americans may feel their bank accounts no longer meet their needs.[1]
Whether you’re tired of fees, looking for better service, or moving to a new area, switching your checking account can improve your financial health. In this guide, you’ll learn when and how to make the switch and what to expect along the way.
When To Switch Your Checking Account
When you consider switching banks, look at fees, proximity, earning potential, work-related features, and technology. Here are some of the signs that you might need a new checking account.
1. You’re Fed Up With Fees
If your bank charges excessive monthly fees, ATM fees, or overdraft fees, it might be time for a change. Fees are normal, but these charges may add up fast and take money from your savings.
Here are a couple of Centier’s checking options:
- Connect Checking & Savings lets you bundle accounts and earn premium savings. Centier waives the $2 monthly fee if you choose e-statements, direct deposit, or if you maintain a $100 balance.
- Centier Checking is a simple, flexible account that will waive the $2 monthly fee if you choose e-statements, direct deposit, or maintain a $100 balance.
Look for a bank that helps you save money instead of one that takes it in fees.
Recommended: Open Checking Account Online Today | Centier Bank of Indiana
2. You Want To Work With a Regional Bank
Big banks don’t always offer you personal service. Local community and regional banks and credit unions may focus more on helping their communities. They may offer better customer support, a different fee structure, and more options.
For example, Centier Bank is committed to giving back to Indiana communities through:
- Sponsorships.
- Donations.
- Volunteer Work.
CentierGives, our community outreach program, supports nonprofits, schools, and local initiatives to create lasting impact.
You might also like: What is a Community Banker and How That's Different From Big Banks?
3. You’re Not Earning Interest
Some checking accounts pay you interest on your money. If yours doesn’t, you could be missing out.
Centier’s Interest Checking offers a great way to earn on your balance. Plus, the $4 monthly fee is waived with e-statements or direct deposit, along with a $500 Minimum daily balance or $1000 average monthly balance.
Some banks even offer rewards additional perks. With a Centier Round Up Savings account, we'll "Round Up" your purchase to the next whole dollar amount. The amount in excess of the purchase price is transferred from your checking account to your Savings account.
Recommended: Monthly Savings Calculator
4. You’ve Moved or Changed Jobs
If your bank doesn’t have nearby branches, ATMs, or good online banking, managing your money can be harder. It may take longer to deposit checks, withdraw cash, or pay bills. Switching to a bank with easy access to branches, fee-free ATMs, and strong online tools can help.
This is especially important if you use accounts like a Health Savings Account (HSA) to pay for medical expenses. Centier’s HSA for individuals gives you easy online access. It also offers a debit card to make medical payments simple.
You might also like: What Can HSA Be Used For? A Complete Guide to Health Savings Account
5. You Want Better Technology
If your bank’s app is hard to use, managing money can be frustrating. It can be more convenient to switch to a bank with modern technology.
The Centier app for iOS or Android devices can make banking easier.
With the app, you can:
- Deposit checks.
- Pay your bills.
- Track spending anytime.
Moreover, the app gives you account alerts and 24/7 secure access to your account
You might also like: What is Mobile Check Deposit and How Do You Benefit?
Is It Worth Switching Checking Accounts?
Switching checking accounts takes a little effort, but the benefits can be worth it.
Here’s why you might want to make the change:
- You can avoid fees or switch to an account with perks.
- You've found a bank with better locations, ATM access, or online tools.
- You're able to use new tools to help you manage your money more effectively.
By choosing the right account, you can make banking simpler and more rewarding.
Will Switching Bank Accounts Hurt Your Credit Score?
The good news is that switching your checking account won’t directly affect your credit score. Unlike loans or credit cards, checking accounts aren’t reported to credit bureaus.
However, a negative unpaid balance can hurt your credit if the balance is sent to collections. Be sure to close your old account properly to avoid surprise fees or overdrafts after the switch.
How To Switch Your Checking Account
Switching your checking account may seem like a big task, but it’s easier than you think.
Follow these steps to make the process smooth:
Research your options.
Visit a branch or open your new account online.
Update your direct deposit and automatic payments to the new account.
Transfer funds from the old account to the new account.
Monitor both accounts for missed payments and make sure your finances are in order.
Close your old account.
Make sure you have a final statement for your account that has been fully closed to avoid unexpected fees. Then, proceed with your new account.
You might also like: What Will I Need To Open a Bank Account?
Switch To Centier for a Brighter Financial Future
Your checking account should make your financial life easier, not harder. If fees, poor service, or limited features are holding you back, switching accounts could be the right move.
We offer a variety of checking accounts designed to fit your lifestyle.
To explore your options and make a switch today, compare Centier’s personal checking accounts.
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