What is a Bank Switch Kit

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Bank Switch Kits

What is a Bank Switch Kit?

A Bank Switch Kit is a tool usually focused on automatic payments and direct deposits which help customers switch their account one bank account to another.

How does a Switch Kit differentiate your bank from others?

By shortening the time required to switch automated payment.

The Auto Switch Kit product helps the consumer fill out many forms in a matter of 2 to 5 minutes. Where it could have taken 10 to 30 using other methods.

Generic Method
Most Bank Account Switch Kit forms come with a couple of generic forms
A Direct Deposit Switch form that you would give to your current employer
An Automatic Payments form, which you can fill out to each of your utility vendors
The purpose of these forms is to be generic, in order to allow the consumer to fill out one form for each group that interacts with their bank, filling out the same information MANY times.

The process of switching typically goes like this:

  1. User fills out their name, new bank account information and their employer information on a direct deposit change form.
  2. User fills out their name, new bank account information, power company name, address account number.
  3. User fills out their name, new bank account information, cable company name, address account number.
    This form has to be filled out 5 to 10 times.

Auto Switch Kit
Our Auto Switch Kit takes a different approach to minimize the amount of work that the Bank Customer has to do in order to switch their account (making it easier for them to switch to your Bank)
User selects checkboxes from a preset list of local Vendor companies
User fills their name, new account, and local Vendor account numbers on a single form.
System displays all local company forms, filled out and ready for printing.

Hybrid
Some banks use a hybrid model, where they keep forms for the local companies on hand and provide the consumer with a copy they can fill out. This method does save the consumer the time of having to research where to send the form when they are done, However they still have to fill out every single form.This simple process by our Auto Switch Kit is better that than the generic, one form fits all method:

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Generic Auto Switch Kit
How many forms have to be filled out Filling out multiple forms with the same information, one form for every vendor Fill out all information at once
Easy to select and remember Must remember which companies, and then type out the names of each of them. Prompts for the most common local companies such as power and cable and other utilities.
Faster, more accurate information ou must fill out the company’s address information which likely involves researching the correct address and mailing procedure on it. Uses the local company’s local form which has the logo, address information and mailing procedure on it.

See for yourself how this tool can help you.

Request a demo

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