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What about ACH items when closing an account?
I plan to close one checking account and open a new one with the same bank. Should I inform the bank about my ACH transactions, or will they already know how to handle them?
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 If you are changing accounts and have ACH or other EFT transactions that routinely post to the account you are closing, or if you have any kind of pending transaction on that account, the bank associate who will assist you in opening the new account will greatly appreciate a list of those transactions if you can provide it. The bank can look back at your transaction record to see what has been posting. For example, there might be a pattern of direct deposited paychecks or Social Security payments, or a series of ACH charges to your account for monthly insurance premiums. However, you should call that sort of transaction to the banker's attention to avoid the possibility that something might get missed. If any future transactions come in and the bank can't post them to your closed account, they could be sent back, causing you needless inconvenience.
The bank may be able to re-direct ACH transactions to your new account for a month or two, but the customer associate who works with you will also suggest that the originators of those transactions be notified to correct their records so that transactions can be posted efficiently to your new account. Finally, if there are any pending transactions of any kind -- checks that haven't cleared yet, ATM or debit card transactions that are still pending, any individual ACH transactions that aren't part of your account history yet -- let the customer associate know about them. At the same time, if there are any transactions that you may not have authorized (that might be the reason you are closing the old account, for example), make certain the bank knows not to post them to your new account. Work with the bank to make the transition to the new account as smooth as possible.
Published on BankingQuestions.com 8/20/08
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