If Your Bank Merges, Should You Shop Around or Stay Put

An employee counts U.S. notes at a money change outlet in Jakarta, Indonesia. BAY ISMOYO/AFP/Getty Images

Bank mergers and acquisitions happen regularly and can lead to streamlined services and better offerings for consumers, but they can also sometimes create challenges like less access to branches or customer service difficulties.

If your bank is merging or being acquired, it will probably try to make the transition process of moving your account as frictionless as possible. But if the new bank doesn’t have the services and features that you need, you’ll probably want to shop around for another bank.

How to Handle Changes with Your Bank

For the most part, the best way to handle changes to your account after a merger is to be patient, weigh your options, and keep track of any new debit cards or documents that your new bank sends you. With a merger, your bank won’t typically close your account and will work with you to get set up as a customer of the new bank.