Payroll Direct Deposit - Institution for Savings

Easy Steps to Changing Banks
Changing banks can often seem challenging…but we make it easy! At the Institution for Savings we will
make this a smooth process for you and are here to assist with the transition. This packet contains
important forms that will help you get started. Follow these easy steps:
1. Open your new accounts with the Institution for Savings by stopping by the office of your choice. Be
sure to inquire about ordering checks, an ATM or debit card, Internet banking, E-Statements, Mobile
Banking and other great products and services.
2. If you already have direct deposit of your paycheck or would like to start a direct deposit, fill out the
enclosed Payroll Direct Deposit letter and return it to the human resources department at your
place of employment. If you receive a government check you can simply call one of these toll-free
numbers to set up or change your direct deposit (we can also call from our office when you open
your account as they will need to speak with you directly to verify your identity):
Social Security
Veterans Affairs
Federal Employees Retirement
Railroad Retirement
(800) 772-1213
(877) 838-2778
(888) 767-6738
(800) 808-0772
3. If you have automatic payments from your account (such as loan payments, bills, etc.) use the
Request to Change Automatic Payment form to change them to your new Institution for Savings
account.
4. If you use Bill Pay at your current bank you can add them in yourself or we can help you switch your
payees to your new IFS account. Use the enclosed Bill Pay Payee List to note the name, billing
address, telephone, and account number of your payees (you may even be able to print this
information off the internet banking of your current bank). Then do it yourself or send it to us and
we can assist.
5. Once you are certain everything has been transferred use the Request to Close Account letter to
close your old bank account and transfer the funds to your new account.
Helpful Information
Main Office/Mailing Address:
Institution for Savings
93 State Street, PO Box 510
Newburyport, MA 01950
Phone:
Fax:
24-Hour Automated Phone:
978-462-3106
978-465-8428
978-462-1050 (Local) OR 800-437-6703 (Toll Free)
Website:
www.institutionforsavings.com
Routing/ABA Number:
211370943

Rev. 12/2013WRB


Payroll Direct Deposit
Date:
To:
From:
Type of Request:
Change my existing direct deposit
Set up new direct deposit
Dear Human Resources Representative:
Effective immediately, please process my request to
paycheck as follows to my account at:
change
set up direct deposit of my
Bank Name:
Address
Phone:
Institution for Savings
93 State Street, Newburyport, MA 01950
(978) 462-3106
Routing Number:
211370943
Type of Account:
Account Number:
Sincerely,
Signature
Address
City/State/ZIP
Contact Phone Number
Rev. 12/2013 WRB



Request to Change Automatic Payment
Date:
To:
From:
RE:
Transfer of Automatic Payment
To Whom It May Concern:
Effective immediately, please process my request to change my automatic payment to my
account at:
Bank Name:
Address
Phone:
Institution for Savings
93 State Street, Newburyport, MA 01950
(978) 462-3106
Routing Number:
211370943
Type of Account:
Account Number:
Sincerely,
Signature
Address
City/State/ZIP
Contact Phone Number
Rev. 12/13 WRB



Bill Pay Payee List
Name:
Email:
Phone:
Use this page to create a list of your payees. You may also be able to attach a printout from your current internet banking if it contains all of the
information below. You can add these into your new account or send them to us and we can assist you in adding them as well. If you ask us to add
them, your Internet Banking account may be suspended while your payees are added to the system. You will then be required to verify that the data
was entered correctly before you can access Internet Banking.
Please send payee verification to me by:
Payee Name
Nickname
Email /
Mail /
In-Person
Account Number
Address
Signature
Phone Number
Rev. 12/13 WRB



Bill Pay Payee Verification
Date:
From:
I have verified that the payees as entered into the Institution for Savings Bill Payment system
are accurate and assume responsibility for any delayed or missed payment that may result from
inaccurate payee information.
Sincerely,
Signature
Rev. 12/13 WRB



Request to Close Account
Date:
To:
RE:
Account Closing and Transfer of Funds
To Whom It May Concern:
Effective immediately, please process my request to close the following bank account and transfer the
funds:
Primary Owner Name:
Primary Owner SSN:
Secondary Owner Name:
Secondary Owner SSN:
Address:
City/State/ZIP:
Contact Phone Number:
Type of Account:
Account Number:
Please remit funds in the form of a check directly to my new bank as follows (please enclose a copy of
this form with the check):
Bank Name:
Address
Check Payable To:
Institution for Savings
Attn:
P.O. Box 510, Newburyport, MA 01950
Institution for Savings
FBO:
Acct. No.:
Sincerely,
Primary Owner Signature
Secondary Owner Signature
Rev. 12/13 WRB


