Fillable Business Banking Transition Kit (M&T Bank)

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Business Banking Transition Kit (M&T Bank)

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©2020 M&T Bank. Member FDIC. 36250 200608 VF mtb.com page 1
Thank you for your decision to switch and welcome to M&T Bank.
When it comes to banking, we know you have many choices. We also understand that switching banks can be
somewhat inconvenient. That’s why we’re providing you with a few simple forms and step-by-step instructions to help
make the process a little easier. As a customer of M&T Bank, you have our commitment that we’ll work with you to
help meet your financial needs today and in the years to come.
Here are some simple suggestions to help make your move to M&T quick and easy:
STEP 1 - Open an M&T Bank business checking account
• One of our knowledgeable and experienced business representatives will help you choose an M&T checking
account that is right for you.
• When opening a business checking or savings account, all banks are required to obtain information verifying
the business as well as the individuals associated with the business. Page 2 provides a list of the documents
required that will help you quickly and easily determine the documents needed. Please have these available
when calling or visiting a branch to open your new account.
STEP 2 - Switch your payments
• Switch recurring payments, payroll funding, and merchant services transactions from your old account to
your new account. Depending on the payee, you may also be able to switch these transactions online or by
phone. To help make this process easier for you, we’ve created the Account Transfer Manager on page 3.
• Use the Payment Transfer Letter on page 4 as a guide to share your new M&T Bank information to each
of your vendors and providers. This letter, along with a voided check from your new M&T Bank business
checking account (Voided check is not needed for Debit Card transactions.), should enable the vendor/
provider to make the requested change(s). You can also keep track of who you’ve notified - and when - on
your Account Transfer Manager.
STEP 3 - Begin using your new M&T Bank business checking account
• With M&T Online Banking you receive free access to both your business and personal accounts.
STEP 4 - Close your old account
• Once you’ve received your new M&T Bank checks and Debit cards, stop using and destroy the checks and
cards associated with your old account.
• Allow time for outstanding checks, debit card purchases, and previously scheduled payments to clear on
your old checking account prior to closing — this typically takes around 10-15 business days.
• On page 5 is the Authorization and Request to Close My Account. Simply complete this form and send it to
your previous bank to notify them of your intention to close the account.
Once again, welcome to M&T Bank. We look forward to serving your financial needs in the years ahead. If you have
any questions, please stop into any Branch, contact your M&T Business Banking Relationship Manager or call us at
1-800-724-6070 and an M&T Business Banking Specialist will be happy to assist you.
Business Banking Transition Kit
©2020 M&T Bank. Member FDIC. 36250 200608 VF mtb.com page 2
Visit mtb.com to explore which account is right for your business.
When applying for a business account, please have the following ready:
• 2 Primary forms of ID OR 1 Primary AND 2 Secondary forms of ID
– Primary ID: Driver’s license, passport, state-issued or authorized city-issued ID, resident alien ID, military ID,
veteran’s healthcare ID, firearm ID or global entry card
– Secondary ID: US Visa, paystub, home rental agreement, utility bill, major credit/debit card or vehicle registration
• Owner/Signor Information - All applicants are subject to review of past account handling and verification of the
information provided:
– Full legal name
– Address
– Date of Birth
– Country(ies) of citizenship
– Country of residence
– % of ownership (only for owners)
– Social Security
• Business documentation - The following is a general list and does not apply to all business types:
– Corporation (S Corp or C Corp)
– Certificate/Articles of Incorporation
– Sole Proprietor:
– DBA or Business Certificate (in states where this applies)
– LLC:
– Limited Liability Agreement
– Limited Liability Partnership
– Non-Profit:
– Articles of Incorporation
– Articles of Association/Organization
– Partnership:
– General partnership
– Unincorporated Associations:
– Membership Agreements
New Business Account Documents
©2020 M&T Bank. Member FDIC. 36250 200608 VF mtb.com page 3
Use this worksheet to keep track of all the information you need to switch automatic payments and deposits to your
new M&T Bank account. This worksheet is purely for your reference. If you have any questions, please stop into any
Branch, contact your M&T Relationship Manager or call us at 1-800-724-6070 and an M&T Business Banking Specialist
will be happy to assist you.
NEW M&T Bank Account Number: _________________________________________________________________
NEW M&T Bank Routing Number: _________________________________________________________________
Old Accounts to Close
TIP: Before you close your old accounts(s), allow time for outstanding checks, debit card purchases, and automatic payments to clear – usually around 10-15 business days.
Outstanding Checks to Clear
TIP: Use M&T Online Banking to monitor account activity online anytime. Learn more at MTB.com/Upgrade.
Automated Payments to Transfer
TIP: Learn more about M&T Bank’s payment solutions for Business at MTB.com/Business.
Merchant Transaction Accounts to Transfer
TIP: M&T utilizes the most advanced and reliable processing solutions for credit card processing. Learn more at MTB.com/MerchantServices.
Bank Name
Routing Number
(9 digits)
Account Type
(checking, Savings, etc)
Account Number
Account
Closed?
Company/Payee
Payment Frequency
or Recurring Date
Amount
Date “Account Transfer letter”
Mailed
Status?
Check Payable to Amount Amount: Bank/Account Number Check Cleared?
Merchant Services Provider Date “Account Transfer letter” Mailed Status?
Account Transfer Manager
©2020 M&T Bank. Member FDIC. 36250 200608 VF mtb.com page 4
Current Bank Account Number (non-M&T institution): ________________________________________________
Customer Name: _____________________________________________ Date: _______________________
To Whom It May Concern:
This letter is to authorize you to redirect my scheduled payment for the above account number to my new
M&T Bank business account as instructed below. Attached you will find a voided check from my new M&T Bank
business checking account. (Voided check is not needed for Debit Card transactions.)
Account Type: Checking Debit Card
Effective: Immediately Beginning ____________
My NEW M&T Bank account information:
NEW M&T Bank Account Number: _______________________________________________________________
NEW M&T Bank Routing Number: ________________________________________________________________
NEW Business Debit Card Number: ______________________________________________________________
Expiration Date: ____________________ CVV code (if needed): ____________________
If you have any questions about this request, please contact me at:
Phone number: ____________________
Street Address: _____________________________________________________________________________
City: _________________________________________ State: _______________ Zip: __________________
Authorized Signature: Co-Signer Signature (if applicable):
Printed Name: Co-Signer Printed Name (if applicable):
Title: Title:
Date: Date:
Scheduled Payment Transfer Letter
©2020 M&T Bank. Member FDIC. 36250 200608 VF mtb.com page 5
Current Bank Account Number (non-M&T institution): ________________________________________________
Customer Name: _____________________________________________ Date: _______________________
To Whom It May Concern:
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 currently scheduled debits and credits
to my account.
Please forward all remaining funds to me at the following address:
Street Address: _____________________________________________________________________________
City: _________________________________________ State: _______________ Zip: __________________
If you have any questions about this request, please contact me at:
Phone number: ____________________
Thank you.
Sincerely,
Authorized Signature: Co-Signer Signature (if applicable):
Printed Name: Co-Signer Printed Name (if applicable):
Title: Title:
Date: Date:
Account Type (Checking, Savings, etc) Account or Card Number
Account Closing Letter
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Completed 6 August 2021

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