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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 12065
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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We will be moving in December and do not have a bank in

Customer Question

We will be moving in December and do not have a bank in Westlake, Ohio until we get there. In the meantime what happens to our checks that are automatically deposited in our old bank.
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: what do we do in the meantime , have our checks mailed here to our current address in Florida. I need help, Please. Patricia A. Fox and Edgar R. Fox
JA: Is there anything else the Retirement Accountant should be aware of?
Customer: Like what
Submitted: 9 months ago.
Category: Social Security
Expert:  Lane replied 9 months ago.

Hello Patricia. My name's Lane. I can help here.

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, a Master’s Degree, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986…

Please bear with me for a moment, while I prepare your response.

Expert:  Lane replied 9 months ago.

I'm not sure I understand your question. The money deposited into your back is still (1) owned by you, (2) accessible - you just write checks or use your debit card if you have one FROM that account.

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What I have My clients do in this is situation is just go into the new bank, once you've moved, and have them change the direct deposit TO your new bank.

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All banks, by law, have the forms and systems to tell Social Security (once they have your signature) to start depositing your social security amounts into the new bank.

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Just be sure not to close the old bank account until that's done.

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Again,, you can still use that old bank account. There's no requirement that you live in the same town.

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Then once you have the deposits changed (you can so this when opening up the new bank account) simply write a check to the new account to mover whatever money is in the old account to the new account.

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One last thing: Don't close the old account until you see the checks now being deposited into the new account. Once that happens, simply write one last check to move any remaining funds into the new account.

Expert:  Lane replied 9 months ago.

Please let me know if you have any questions at all, before rating me.

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And if you DON'T have other questions Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …would be appreciated!

Otherwise I receive no compensation for the work.

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Thank you,

Lane