Switch your account to us

It's easy!

Switching your account to us couldn't be easier! All you need to do is complete some simple forms. If you're not yet a member of Teachers Mutual Bank, you must first join if you are eligible.

 

Four simple steps to switching your account:

1. Have your income paid into your new Teachers Mutual Bank account

To start having your income deposited into your Teachers Mutual Bank Everyday account:

• Teachers will need to complete our Directing your pay/income form and return to us;
• If you are a non-teacher member, please complete and send this pay/income transfer form to the organisation paying you.

 

2. Identify your regular payments to and from your old account

You can request a list of your regular payments from your previous financial institution, or you can simply check your statements. We recommend checking at least 13 months' worth of transactions to ensure you cover annual payments. Tip: This is a great opportunity to create or adjust your budget.

3. Re-establish your payments on your new Teachers Mutual Bank account - we can do it for you!

Now you're ready to contact each organisation that makes regular credits and debits to your account and ask them to update their records with your new account details.

We can do it for you - simply complete a Switch of financial institution and accounts details form for each provider or organisation, sign and return all forms with a copy of your regular repayments list to us and we will process them for you.

To do this yourself - you will need to send a direct debit letter or direct credit letter to each provider or organisation.

If you make periodical payments, use the Authority to cancel periodical payments form and send it to your previous financial institution. Ask us how to set these up on your new account.

For other payments:

• If you have recurring payments, advise your provider or merchant of your new debit card number;
• If you use internet banking to make payments yourself, log in to your account, click on ‘Personal Payees’ and enter payee details.

 

4. Close your old account

Once you're sure all your regular direct debits and credits have been successfully re-established on your new Everyday account, you can close your old account with the Authority to close account form.

Download a Switch to us pack, which includes all of the above information and forms. If you need help to switch to Teachers Mutual Bank, call 13 12 21 8am to 7pm, weekdays or 9am to 3pm, Saturday.