Member FDIC. Equal Housing Lender.
Move Your Money
Take action with your deposits
Banking is the original and most powerful form of crowdfunding. When pooled together, our deposits can finance affordable housing, renewable energy, and business cooperatives.
See instructions for how to change your bank for individuals, businesses and nonprofits, and credit card customers.
Individuals: How to switch your bank in five steps
It can feel daunting to switch banks. By creating a checklist and transitioning to your new bank at your own pace, the process can be easier than you think.
- Open your new Beneficial State Bank checking or savings account.
- Transition your automatic payments and direct deposits. Inform your employer or other direct depositors of your new account number. Make a list of your automatic payments and set them to come from your new account.
- Close your former bank account.
- Tell your friends!
Businesses and nonprofits: How to switch your organization’s bank
It’s a big step to move your organization’s money. We’re here to help.
- Connect with a banker who can help you find the right products and services.
- Open a Beneficial State Bank business checking and/or savings account.
- Stop using your old business checking account.
- Update your business software, such as payroll or accounting.
- Transfer your automatic transactions.
- Transfer your wire or other automatic payments.
- Close your old business account. Before you do this, confirm that all your checks have cleared and all your automatic transactions and payments have been switched.
Sometimes it’s scary to unwind your banking, especially for bigger businesses. But it’s worth it. It’s important to dig beneath the surface, do the research, and educate yourself on what you’re contributing to.
Sarah Holdeman
Co-Founder
Businesses and nonprofits: What do I need to open a new account?
Your banker will need Bylaws, Operating Agreement or Partnership Agreement, and personal identification information of all signers. Additionally, your banker will ask:
- Does your legal entity documentation require written authorization to establish a new banking relationship and approval of all authorized signers?
- What cash management and treasury services do you need? Provide copies of the most recent two months of account statements from your current bank account.
- Who needs access to the new account? What level of access do they need?
How to switch your credit card
Your credit card is a great first step for switching your banking relationship. It's easy and quick to apply for a new credit card, and you can gradually transition your purchases. Our mission-aligned credit cards can help you meet your financial goals.
Choose a Bank that Invests in Tomorrow
Beneficial State Bank serves the triple-bottom-line of people, planet, and prosperity for all. That means prioritizing social justice and environmental sustainability. Change your bank and help change the world.