BANKING / PRACTICAL CHECKLIST
Plan a change of banking provider
An organised checklist for mapping payments, confirming new arrangements and checking an account before closing it.
Editorial review: October 3, 2026 · Published by Oleksand Tsygan
Define what is changing
This checklist concerns a voluntary move to another provider. Former connectFirst members looking for system-conversion instructions should use the former-member guide and Servus’s official updates.
FCAC recommends planning a transfer in advance and monitoring existing products during the process to reduce the risk of missed payments and related fees. Read its transfer guidance alongside the instructions from both institutions.
1. Map the account’s connections
Create a private inventory. Use statements and your own payment records to identify recurring activity, including items that occur quarterly or annually.
| Item | Your record should include |
|---|---|
| Money coming in | Payer, next expected date, change instructions and confirmation. |
| Money going out | Payee, schedule, payment method and date new details take effect. |
| Pending activity | Outstanding cheques, transfers, refunds or disputes needing follow-up. |
| Linked products | Any savings, credit or other arrangements to discuss separately. |
2. Confirm the new arrangements
Check that the new account and access methods are ready. Ask each payer or payee how account details must be changed and how long the update takes. A submitted request is not the same as a completed change.
Record a confirmation date and the first transaction expected under the new arrangement. Keep enough visibility over both accounts to notice a payment that arrives or leaves through the old one.
3. Verify before closing
Review the first transactions under the new arrangements and investigate any missing or duplicate item with the relevant provider. Ask the old institution about closure requirements, outstanding activity and any final charges.
Keep the statements and closure confirmation you may need later. Avoid treating a zero balance as proof that an account has been formally closed.
Do not use one checklist for every product
A mortgage, registered account, term deposit or investment may have separate transfer, withdrawal or cancellation conditions. Obtain product-specific instructions before acting. This everyday-account worksheet does not establish those conditions.
Source
Checked October 3, 2026. The worksheet is an original planning aid.