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Tired of hidden fees, poor customer support, and outdated mobile apps? You're not alone.
Many professionals are frustrated with these issues and are seeking better banking experiences.
Still, filing a bank account transfer application might feel like a hassle.
You may wonder, won’t the process take 5 business days to set up? Guess what, it won't.
In the age of digital-first banks, switching banks is way easier than ever. You can move your money without even carrying documents for verification to the bank branch.
This guide will walk you through how to transfer a bank account without losing out on any benefits.
But first, why is switching banks worth it today?
Imagine being frustrated with your current bank. Your mobile app keeps crashing, and every NEFT transaction has an additional fee. And despite years of loyalty, you’re still earning approx. 3% interest.
It’s time to take a call and file a bank account transfer application at IDFC FIRST Bank. Within minutes, you will receive your account number without even visiting the bank. So, make the switch and reap benefits like:
- Up to 7.00% interest rates p.a.
- Quick online onboarding with video KYC
- Zero charges on all banking services
- 24X7 account access
Now that you know why switching makes sense, here’s how you do it.
Transfer bank account in 4 easy steps
Step 1 – Open a new account online
Firstly, pick any one savings account type:
a. Account with a ₹10,000 average monthly balance requirement offers monthly interest credits and digital KYC
b. An account with a ₹25,000 average monthly balance provides additional benefits like airport lounge access and premium perks
Both come with UPI integration, accident cover, debit card, and zero fee for over 30 common services.
Now, start your bank account transfer application online (on the website or mobile app) and finish video KYC verification in two to three minutes. Yes, it’s that easy.
Check out this tutorial video for more help -
Step 2 – Move your funds
After successfully verifying your bank account transfer application, use NEFT, IMPS, or UPI to transfer money from your old account.
Pro tip - Keep some balance in the old one until all debits are updated.
Step 3 – Update auto-debits and salary information
Update NACH mandates, UPI links, SIPs, and EMI instructions. Ensure your HR department has your new salary account details before the next payroll cycle.
Step 4 – Close the old account once all updates are live
After 2–3 weeks, once everything’s updated, initiate the closure of the old bank account digitally or at the branch.
5 Golden tips to avoid disruptions during bank switching
Even with a smooth bank account transfer application, small mistakes can cause payment failures or missed debits. So, before you close your old account, don’t forget to:
1. Switch UPI IDs and test them
Switch UPI IDs and update them in your new savings account. You can send a small amount to confirm that your new UPI handle works.
2. Update all linked services
Refresh your account with mutual funds, digital wallets, and billers to avoid missed payments.
3. Backup key financial statements
Track statement history and download at least the last three months of statements for record-keeping.
4. Time your switch wisely
The best time to transfer is after salary credit but before monthly debits.
5. Audit auto-payments
Check all your auto-payments like EMI bills, mobile recharge, loans, OTT subscriptions, and update them individually.
What makes IDFC FIRST Bank’s Savings Account stand out?
- Zero fee banking on all Savings Account services including IMPS, NEFT, RTGS, ATM transactions, Debit Card, SMS alerts, and 30+ other services
- Earn attractive interest rates of up to 7.00% p.a. with monthly interest credits and the benefit of monthly compounding
- Higher ATM withdrawal and purchase limits for added convenience on your Savings Account
- Exclusive rewards and cashback offers on your Savings Account Debit Card, plus a rewarding loyalty program through FIRST Rewards
- Manage your money anytime, anywhere with the IDFC FIRST Bank mobile app and internet banking platform
- Enjoy cash flow analysis, investment options, and rewards tracking, all within your digital banking experience
- Recognised among the World’s Best Banks 2025 by Forbes in partnership with Statista
It’s time to ask more from your bank. Start your account transfer to a smarter savings account today.
Frequently Asked Questions
Not right away. Keep it open for 2–3 weeks until you’ve moved all debits and payments.
No. You can link the same UPI ID and mobile number to your new account.
With IDFC FIRST Bank, you can open a savings account within 10 minutes of filing a bank account transfer application.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.