How to Switch Your Business Bank Account to BayFirst: A Step-by-Step Guide

December 8, 2025

Switching your business bank account to BayFirst is easier than you might think. With the BayFirst Business Switch Kit, you can move your accounts, payments, and deposits with confidence and minimal disruption to your business operations.

Why Switch to a Local Bank Like BayFirst?
Choosing a local bank offers significant advantages for your business. Unlike large national banks, a local bank like BayFirst understands the needs of businesses in your community. Decisions are made locally, so you get personalized service and a banking partner that takes the time to understand your business. Local banks are invested in the success of their clients, which means access to flexible products, dedicated support, and a team that is committed to helping your business grow.

To make switching banks even easier, we’ve put together this guide. Follow these six simple steps and you’ll be on your way to better business banking in no time. Step 1: Open Your New BayFirst Business Account
Start by visiting a BayFirst banking center to open your new business account. Save time by bringing all required documentation with you, including:

• Business name and registration documents
• Tax Identification Number (EIN)
• Valid ID for all owners/signers
• Operating agreement or partnership agreement (if applicable)

During your appointment, your BayFirst banker will help you choose the right deposit accounts and services for your business. You will also review digital banking tools, merchant services, and additional options to support your daily operations.

Tip: Bring a completed Customer Identification Program (CIP) Form to save time. Step 2: Review All Existing Business Accounts
Before switching, take time to review your existing accounts. Send your BayFirst team member the most recent two months of statements for each bank account your business currently uses.
Your banker will analyze the following:

• Associated automatic payments (e.g., payroll, rent, utilities)
• Incoming deposits (e.g., client payments, POS settlements)
• Linked services (e.g., accounting software, merchant processors)

This review ensures nothing is missed during the transition and helps you understand which items need to be updated with your new BayFirst information.

Set up an appointment with your BayFirst team member within two weeks to review their analysis and explore deposit accounts, merchant services, and digital tools. Step 3: Set Up Your New Account Services
Once your BayFirst account is open, you can begin setting up the tools and services your business relies on. This includes:

• Enrolling in online and mobile banking
• Ordering checks, debit cards, and deposit slips
• Setting up account alerts
• Linking your accounting software such as QuickBooks or Xero
• Applying for overdraft protection if needed
• Connecting merchant services

Getting these services up and running early makes the rest of the transition easier and ensures your business operations continue without interruption. Step 4: Redirect Incoming Payments & Transfer Automatic Payments & Withdrawals
This step ensures your business continues to pay bills and receive funds smoothly.
Notify all parties that pay your business:

• Clients/customers
• Payment processors (e.g., Stripe, PayPal, Square)
• Government agencies (e.g., for tax refunds)

Tip: Use our Direct Deposit Change Form to make this easier.

Update your payment method with recurring vendors:

• Payroll providers (e.g., Gusto, ADP)
• Rent/mortgage holders
• Utilities and service providers
• Business subscriptions and software
• Loan payments and credit card auto-pays

Check your monthly deposits and expenses with your BayFirst banker to make sure everything is accounted for.

Tip: Allow 1-2 billing cycles to ensure payments transition smoothly. Step 5: Move Your Funds
Once all deposits and payments are redirected:

• Transfer funds from your old account to your new one.
• Leave a small buffer in the old account for any straggling transactions.
• Double-check that all checks have cleared and all payments processed.

Tip: Wait 1-2 full billing cycles before closing your old account. Step 6: Close Your Old Business Account
After confirming the successful transfer of all payments and deposits, you can close your old account.
Be sure:

• All transactions have cleared.
• No auto-payments or deposits remain.
• All checks have posted.

Then:

• Withdraw remaining balance.
• Request written confirmation of account closure.

These final steps help you complete the switch securely. Make sure you shred old checks and destroy old debit cards securely. Make Your Business Banking Switch Simple with BayFirst
Switching business accounts does not have to be complicated. With the BayFirst Business SwitchKit and the support of the BayFirst business banking team, you can transition easily, stay organized, and keep your operations running smoothly.

For access to additional helpful documents and resources to guide your business account switch, visit our BayFirst Business Switch Kit page today.