Switch to sascu
Switch to this credit union in about 6 days: we help move direct deposit, bills, and automatic payments for free.
Your Banking Options Compared: Switching
- Average switch time is 6 days; the switch team does the heavy lifting.
- this credit union covers the switch costs - new cheques, transfers, and any big-bank exit fees.
- Direct deposit changes are completed by the switch team, not you.
- There is no fee and no minimum balance for switching.
What the Switch Covers
Direct deposit, pre-authorized payments, bill payees, and balance transfer are all handled by the switch team.
The switch kit covers every account: payroll and pension direct deposit, pre-authorized payments (utilities, insurance, subscriptions), and bill payees. Transfers between the platform and the old bank are arranged with the old bank directly.
One switch file also relocates your savings, credit card payments, and any loan installment arrangements.
How the Switch Works
Four steps - open, authorize, move, and close - completed in about 6 days.
After the account is open, you grant a power of attorney to the switch team for the move itself. They take care of the phone calls while an e-reminder directs you when to close the old account.
- Open a sascu account in 10 minutes
- Complete the switch authorization form
- Team moves deposit, bills, and payees - we match old balances
- Close the old bank account when transfers clear
Costs and Fees
The switch is free; our team even reimburses switching fees charged by the previous bank.
Switching costs run zero at sascu. If the previous institution charges a closure or account-change fee, submit the receipt and the cooperative reimburses it, up to $75. No fee, no minimum, no strings.
Before moving, confirm any deposit-savings account with a promotional rate at the old bank - the rate may include a stay bonus that could outweigh the switch.
Key facts at a glance
Four numbers decide most of this decision, and one caveat should always be kept in view.
- Switch time: 6 days.
- Reimbursement: Up to $75.
- Switch fee: $0.
The free switch offer does NOT cover prepaid products or foreign currency accounts. Our first switching kit handled chequing only; after losing two members mid-transition we extended to savings and credit cards.
The official methodology is detailed in the sascu overview.
| W | h | a | t | h | a | p | p | e | n | s | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Day 1 | Account opened, switch form signed | Upload ID | |||||||||
| Day 2-3 | Direct deposit and payees notified | None - team calls | |||||||||
| Day 4-5 | Balances moved, old bank notified | Review transfers | |||||||||
| Day 6 | Old account closed, fee receipt taken | Confirm closure | |||||||||
| Day 9 | Fee reimbursement issued | None - automatic |
Consumer protection and credit-union rules are published by the Financial Consumer Agency of Canada.
The app is the reason we stay. Everything from deposit to bill pay takes minutes at lunch.
sascu moved our payroll and treasury in one week. The switch team handled the phone calls.