We would like to welcome you to our website, and if you are not already, we invite you to become a customer of the Clay County State Bank. Following are a few easy steps you may take to smoothly transition from your current financial institution to Clay County State Bank.
Please visit us at 111 N. Church Street in Louisville, Illinois to open your new accounts. Section 326 of the USA PATRIOT Act** (see bottom of page) requires that we collect obtain, verify, and record information that identifies each person who opens an account. Please download, complete and bring to the bank a copy of the new customer questionnaire to begin the account opening process:
We recommend you establish your new accounts with us prior to starting any account closure at another financial institution.
Account Conversion Checklist
- Visit Clay County State Bank to open your new account(s).
- Make sure all checks have cleared on your former account(s).
- Retain enough funds in your existing account(s) to cover any automatic payments that will still need to be withdrawn.
- If you are transferring a Certificate of Deposit, in order to avoid possible penalties, confirm maturity dates.
- Send a written notice to your direct deposit vendors such as payroll, social security, interest payments, etc. to notify them of your change in relationship.*
- Send a written notice to the vendors who automatically take payments from your account such as utility companies, insurance, banks, etc to inform them you are closing your former account(s).*
- Send notification of your new account information to vendors who you want to continue generating automatic withdrawals. You may also start a brand new automatic payment by giving a vendor notice.*
- Finally send a written notice to your former financial institution giving them instructions that you have elected to close your account(s).*
New Account Conversion Forms and Letters
Account Closing Letter – Use this letter to notify your former financial institution of the accounts you are closing and give them instruction on how to disburse any remaining funds.
Automatic Payment Cancellation Letter – If you have established automatic payments, please use this letter to instruct each vendor to cancel those payments from your old account.
Automatic Payment Transfer Letter – If you have established automatic payments, please send this letter to each of your vendors to transfer those payments from your old account to your new Clay County State Bank account.
Automatic Payment Authorization Form – You may use this form to send to vendors to enroll for automatic payments using your new Clay County State Bank account.
Direct Deposit Change Request – Please use this form to change your direct deposit from your old account(s) to your new Clay County State Bank account(s).
Direct Deposit Application – You may use this form to enroll for first time direct deposit of your payroll into your Clay County State Bank account(s).
If you have a question or need additional information please call us at 618-665-3314 or email to firstname.lastname@example.org. EMAIL IS NOT SECURE; PLEASE DO NOT SEND ANY CONFIDENTIAL INFORMATION.
**IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
Section 326 of the USA PATRIOT Act
To help the government fight financial crime, Federal regulation requires certain financial institutions to obtain, verify, and record information about the beneficial owners of legal entity customers. Legal entities can be abused to disguise involvement in terrorist financing, money laundering, tax evasion, corruption, fraud, and other financial crimes. Requiring the disclosure of key individuals who own or control a legal entity (i.e., the beneficial owners) help law enforcement investigate and prosecute these crimes.