Welcome to Clay County State Bank
If you aren’t already banking with us, we warmly invite you to become a customer today! Transitioning your financial life shouldn’t be stressful. We have outlined a few easy steps below to help you smoothly transition your accounts from your current financial institution to Clay County State Bank.
Please visit us in person at 111 N. Church Street in Louisville, Illinois to open your new accounts.
Federal compliance note: Section 326 of the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens an account. Please see the compliance details at the bottom of this page for the exact verification documents you will need to bring with you.
Step 1: Prepare Your Paperwork
To streamline your branch visit, please download, complete, and bring a copy of the appropriate new customer questionnaire with you:
Step 2: Complete the Account Conversion Checklist
⚠️ Important Safety Recommendation: We strongly recommend that you completely establish and activate your new accounts with us prior to starting any account closure processes at your former financial institution.
- Visit Clay County State Bank to open your new account(s).
- Make sure all outstanding checks have successfully cleared on your former account(s).
- Retain enough funds in your existing account(s) to cover any automatic payments that still need to be withdrawn during the move.
- Confirm maturity dates first if you are transferring a Certificate of Deposit to avoid potential early-withdrawal penalties.
- 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 any 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 explicit instructions that you have elected to close your account(s).*
*You may download these forms from the section below. Document forms require Adobe Reader® to open and complete. If necessary, use this link to Obtain Adobe Reader®.
New Account Conversion Forms and Letters
- Account Closing Letter (PDF, 16KB) – 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 (PDF, 12KB) – 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 (PDF, 13KB) – 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 (PDF, 17KB) – 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 (PDF, 17KB) – 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 (PDF, 30KB) – You may use this form to enroll for first-time direct deposit of your payroll into your Clay County State Bank account(s).
Have Questions? We Are Here to Help!
If you have any questions or need additional information during your transition, please call us at 618-665-3314 or email us at info@claycobank.com.
🛑 SECURITY WARNING: Standard email transmission is not secure. For your own security, please do not send any social security numbers, account numbers, or confidential financial information via email.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
USA PATRIOT Act Section 326 (Consumer Requirements):
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.
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.
Legal Entities Customer Requirements:
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) helps law enforcement investigate and prosecute these crimes.
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) helps law enforcement investigate and prosecute these crimes.