Switching over from another financial institution can be an easy and smooth experience. Once you’re a member at Vancity, you can transfer all or some of your pre-authorized payments from another financial institution to Vancity, as well as your automatic payroll deposits. This is what you need to do to make the most out of Vancity account!
Now that you opened your new account, we’re here to help you switch your services to Vancity.
Step 1. Set up online banking
To log into online banking on vancity.com or the Vancity mobile app for the first time, enter the last 10 digits of your MEMBER CARD® debit card # (include zeros, omit the space), then enter your temporary online banking password. You’ll need to update your password and set up multi-factor authentication.
Review the checklist below for the items you can set up once you receive your new Vancity debit card.
A complete step-by-step guide to setting up online banking and the links to download the Vancity mobile app for Apple or Android are available at support.vancity.com/gettingstarted/
Step 2. Switch my payroll or other direct deposits to my Vancity account
You’ll need to provide your new account information to your employer and other organizations that deposit automatic payments (like government benefits).
We also have an easy way to update the Canada Revenue Agency (CRA) with your direct deposit information through online banking. In the left-hand menu, select Account Services > Set up CRA Direct Deposit.
Step 3. Set up a pre-authorized payment from a Vancity account
Pre-authorized payments are a convenient and hassle-free way to ensure your regular and expected bills are paid on time, every time. They’re a great choice if you want to avoid unwanted late-payment penalties and would prefer not to have to manually pay your recurring bills. Plus, they can even help you maintain and improve your credit score.
Pre-authorized payments are set up with your service provide. You can usually find setup instructions on the back of your bill or you can contact them directly. You’ll need to provide them your account information:
You full name and address as it appears on your account statements
Void cheque (if applicable) Some service providers may ask for a void cheque to set up pre-authorized payments. In many cases the service provider will accept your account information in place of a void cheque. If you already have a cheque, simply write “VOID” in large letters across the face of a cheque. If you must provide a cheque and don’t have one, here’s how to order cheques from Vancity.
Here are some examples of possible automated direct deposits:
Gas / electric utilities
Mortgage / Loans
Cable / Internet / Phone
Step 4. Transfer your investments
Want to talk about managing your cashflow, setting up automatic savings plans or moving your other investments to Vancity? New members may also be eligible for offers and pre-approvals when applying for an enviro™ Visa* card or line of credit.