# Business account switching checklist

Use this checklist to plan an account change without interrupting customer payments, tax records or supplier settlement.

## Before opening / switching

- [ ] Compare the current account’s fees, transaction needs, cash-deposit options, integrations and account-protection arrangement with the new provider’s current terms.
- [ ] Check eligibility, identity/document requirements and any provider-specific limits.
- [ ] Download statements and transaction data for the period your accountant or tax records require.
- [ ] List incoming payments: customers, marketplaces, payment processors, subscription income and tax refunds.
- [ ] List outgoing payments: payroll, HMRC, VAT, suppliers, software, insurance, loan/card repayments and standing orders.

## During transition

- [ ] Keep enough money in the old account for known commitments until they have cleared.
- [ ] Update invoice bank details and payment links only after confirming the new account is live.
- [ ] Tell customers/suppliers through a verified communication channel; watch for mandate-change fraud.
- [ ] Reconcile duplicated, failed or returned payments each week.
- [ ] Keep a dated record of notification and confirmation actions.

## Before closing the old account

- [ ] Confirm all recurring payments have migrated and all refunds/chargebacks have a route.
- [ ] Download final statements and reconcile the closing balance.
- [ ] Confirm with your accountant/bookkeeper how records will be retained.
- [ ] Confirm closure terms, outstanding fees and any linked product consequences with the old provider.

> This checklist is general operational guidance. Check the current terms of both providers and keep tax/accounting records for the required period.