Do you have questions you would like answered by your peers in the proformative community?

Ambuj Jain Owner

Switching bank accounts checklist

Asked on May 9, 2013

I am looking for checklists / best practices materials for items to consider while switching corporate banking relationships. This would cover disbursement, payroll, lockbox, and investment bank accounts being moved from one financial institution to another. The banks accounts would be in the US and may be used for international operations. Any guidance would be appreciated.

Answers

Mark Krawczyk CFO • May 26, 2011

Ambuj:

Not sure such a checklist exists, but would suggest you start with a clean slate of "to-dos" of what you KNOW you will need to do. Send this list out to your business contacts, colleagues and bankers you do business with to get their feedback. This "starting point" provided by you will (I think) be much more likely to get a response and assistance in helping you resolve this issue for your operations. Good luck