switch kit
Business Banking
Thank you for choosing Flagstar Bank.
We crafted this kit to make your transition to Flagstar as
simple as possible. We look forward to working with you and
custom building a solution that meets your business’s needs.
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To complete your transfer to Flagstar Bank,
simply follow these steps:
Step 1:
Open your new Flagstar business
checking account. If you need
assistance selecting one, speak
to your financial craftsman.
Step 5:
Transfer any incoming deposits to Flagstar,
and notify anyone electronically crediting
your old account about your new account.
To facilitate these changes, we’ve included
an Incoming Deposit Change Authorization
form in this kit.
Step 2:
Cease activity on your old business
checking account, being sure to allow
time for outstanding checks to clear.
Destroy any ATM/debit cards, unused
checks, and deposit slips.
Step 6:
Close your old checking account once
your checks have cleared and your
automatic payments and direct deposits
are successfully being deducted or
credited to your Flagstar account.
Step 3:
Provide your payroll processor with
your new Flagstar account number.
Your financial craftsman can help
you complete the Payroll Processor
Notification form, which is included
with this kit.
We’ve included an Authorization to Close
Business Account form to make this easier.
Step 4:
Switch any automatic payments to your
new Flagstar account. These include utility
bills, dues, and vendor payments. If written
notifications are required, please use the
Automatic Payment Change Authorization
form in this kit.
Need further
assistance?
Call your financial
craftsman at
(888) 248-6423 or visit
your local branch today.
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About the forms in this kit.
We crafted the enclosed forms to help ensure that your automatic payments (such as
ACH debits and credits) migrate quickly to your new Flagstar business checking account.
Follow the instructions and tips below, and feel free to contact your financial craftsman
with any questions.
Payroll Processor Notification form
1. Contact your payroll processor to ensure that no additional forms are required.
2. Use the form to switch the account your payroll is funded from to your new Flagstar account.
3. Maintain your old account until the payroll deduction has been successfully migrated to your Flagstar account.
Automatic Payment Change Authorization form
1. Review the checklist below to help identify any existing automatic payments you make.
2. Use the form to request automatic payments to be established on your new Flagstar account.
3. Maintain your old account until all automatic payments have successfully migrated to your Flagstar account.
Automatic Payment Checklist
• Utilities (phone, internet, electric, gas, etc.) • Tax payments (federal, state, and local) • Merchant services/Credit card
processing • Insurance • Loan or lease payments • Building mortgage or lease • Professional memberships • Credit cards
After sending your automatic payment change request:
Verify that your request has been processed by monitoring your Flagstar account via Online Banking
or by calling Business Banking Support at (888) 248-6423.
Incoming Deposit Change Authorization form
1. Contact your vendor to ensure no additional forms are required.
2. Use the form to switch your ACH credits to your new Flagstar account.
3. Maintain your old account until incoming deposits have successfully migrated to your Flagstar account.
After sending your incoming deposit change request:
1. Confirm with your vendor that your form was received.
2. Monitor your Flagstar account via Online Banking or by calling Business Banking Support at (888) 248-6423.
Authorization to Close Business Account form
1. Contact your old bank to ensure no additional forms are required.
2. Terminate any treasury management services, such as ACH, online wire, remote deposit, etc.
After sending your incoming deposit change request:
Check your old bank’s statements to confirm all accounts have zero balances and have been closed.
Rev. 0517
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Step 3
Payroll Processor Notification
I would like to change my payroll funding account to the Flagstar Bank Account listed below:
_______________________________________________________________________________________
To: (Payroll company name)
______________________________________ __ ________________________________________
Address City, State, ZIP
My company information:
_______________________________________________________________________________________
Company name
______________________________________ __ ________________________________________
Address City, State, ZIP
________________________________________ __________________________________________
Contact name / Title Contact phone number
Bank account information:
Please change my payroll funding account to: Effective date ______________
Account Type: Checking Savings Money market
_______________________________ __________________________________________
Flagstar account number Flagstar Bank routing number
_____________________________________________ __ ______________________________
Signature Date
_______________________________________________________________________________________
Printed name and title
272471852
Rev. 0517
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Step 4
Automatic Payment Change Authorization
I would like the following payment to be automatically debited from my Flagstar Bank account according to the
instructions below:
_______________________________________________________________________________________
To: (Company name)
______________________________________ __ ________________________________________
Address City, State, ZIP
My company information:
Change my existing automatic payment Amount $_____________ Effective date ______________
________________________________________ __________________________________________
Company name Account number with vendor
______________________________________ __ ________________________________________
Address City, State, ZIP
________________________________________ __________________________________________
Contact name / Title Contact phone number
Bank account information:
Please change my payroll funding account to: Effective date ______________
Account Type: Checking Savings Money market
_______________________________ __________________________________________
Flagstar account number Flagstar Bank routing number
_____________________________________________ __ ______________________________
Signature Date
_______________________________________________________________________________________
Printed name and title
272471852
Rev. 0517
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Step 6
Authorization to Close Business Account
_______________________________________________________________________________________
To: (Financial institution name)
______________________________________ __ ________________________________________
Address City, State, ZIP
Please accept this letter as my written authorization to close the following account(s) at your financial institution.
All of my transactions have cleared and I have stopped all automatic debits and credits to my account.
The following account numbers indicate the accounts to be closed:
Effective close date: _______________
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Savings account number Savings account name
_______________________________ __________________________________________
Other account number Other account name
If you have any questions please let me know. Otherwise, please send any remaining funds to the address below.
Sincerely,
______________________________________ __ ________________________________________
Signature – Primary signer Signature – Secondary signer (if applicable)
______________________________________ __ ________________________________________
Name (please print) / Title Name (Please Print) / Title
_______________________________________________________________________________________
Company name
______________________________________ __ ________________________________________
Address City, State, ZIP
Rev. 0517
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Step 6
Authorization to Close Business Account
_______________________________________________________________________________________
To: (Financial institution name)
______________________________________ __ ________________________________________
Address City, State, ZIP
Please accept this letter as my written authorization to close the following account(s) at your financial institution.
All of my transactions have cleared and I have stopped all automatic debits and credits to my account.
The following account numbers indicate the accounts to be closed:
Effective close date: _______________
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Savings account number Savings account name
_______________________________ __________________________________________
Other account number Other account name
If you have any questions please let me know. Otherwise, please send any remaining funds to the address below.
Sincerely,
______________________________________ __ ________________________________________
Signature – Primary signer Signature – Secondary signer (if applicable)
______________________________________ __ ________________________________________
Name (please print) / Title Name (Please Print) / Title
_______________________________________________________________________________________
Company name
______________________________________ __ ________________________________________
Address City, State, ZIP
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Step 3
Payroll Processor Notification
I would like to change my payroll funding account to the Flagstar Bank Account listed below:
_______________________________________________________________________________________
To: (Payroll company name)
______________________________________ __ ________________________________________
Address City, State, ZIP
My company information:
_______________________________________________________________________________________
Company name
______________________________________ __ ________________________________________
Address City, State, ZIP
________________________________________ __________________________________________
Contact name / Title Contact phone number
Bank account information:
Please change my payroll funding account to: Effective date ______________
Account Type: Checking Savings Money market
_______________________________ __________________________________________
Flagstar account number Flagstar Bank routing number
_____________________________________________ __ ______________________________
Signature Date
_______________________________________________________________________________________
Printed name and title
272471852
click to sign
signature
click to edit
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Step 4
Automatic Payment Change Authorization
I would like the following payment to be automatically debited from my Flagstar Bank account according to the
instructions below:
_______________________________________________________________________________________
To: (Company name)
______________________________________ __ ________________________________________
Address City, State, ZIP
My company information:
Change my existing automatic payment Amount $_____________ Effective date ______________
________________________________________ __________________________________________
Company name Account number with vendor
______________________________________ __ ________________________________________
Address City, State, ZIP
________________________________________ __________________________________________
Contact name / Title Contact phone number
Bank account information:
Please change my account to be debited to: Effective date ______________
Account Type: Checking Savings Money market
_______________________________ __________________________________________
Flagstar account number Flagstar Bank routing number
_____________________________________________ __ ______________________________
Signature Date
_______________________________________________________________________________________
Printed name and title
272471852
click to sign
signature
click to edit
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Step 5
Incoming Deposit Change Authorization
I would like to change my ACH credit to be automatically deposited to my Flagstar Bank account according to the
instructions below:
_______________________________________________________________________________________
To: (Company name)
______________________________________ __ ________________________________________
Address City, State, ZIP
My company information:
Change my existing incoming
deposit (ACH)
Amount $_____________ Effective date ______________
________________________________________ __________________________________________
Company name Account number with vendor
______________________________________ __ ________________________________________
Address City, State, ZIP
________________________________________ __________________________________________
Contact name / Title Contact phone number
Bank account information:
Please change my account to be credited to:
Account Type: Checking Savings Money market
_______________________________ __________________________________________
Flagstar account number Flagstar Bank routing number
I authorize ___________________________ (company) to make deposits directly to my Flagstar Bank account
indicated above, and to make (if necessary) adjustments for any credit made in error to my account.
_____________________________________________ __ ______________________________
Signature Date
_______________________________________________________________________________________
Printed name and title
272471852
click to sign
signature
click to edit
f lagstar.com
Est. 1987 Member FDIC
Equal Housing Lender
Rev. 0517
Step 6
Authorization to Close Business Account
_______________________________________________________________________________________
To: (Financial institution name)
______________________________________ __ ________________________________________
Address City, State, ZIP
Please accept this letter as my written authorization to close the following account(s) at your financial institution.
All of my transactions have cleared and I have stopped all automatic debits and credits to my account.
The following account numbers indicate the accounts to be closed:
Effective close date: _______________
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Checking account number Checking account name
_______________________________ __________________________________________
Savings account number Savings account name
_______________________________ __________________________________________
Other account number Other account name
If you have any questions please let me know. Otherwise, please send any remaining funds to the address below.
Sincerely,
______________________________________ __ ________________________________________
Signature – Primary signer Signature – Secondary signer (if applicable)
______________________________________ __ ________________________________________
Name (please print) / Title Name (Please Print) / Title
_______________________________________________________________________________________
Company name
______________________________________ __ ________________________________________
Address City, State, ZIP
click to sign
signature
click to edit
click to sign
signature
click to edit