Transactions
Transactions
How to switch banks: Envelope migration toolkit
Use this checklist to move your money, direct deposit, bills, and everyday spending to Envelope.
1. Open your Envelope account
Download Envelope and complete the application. See How to open an account for eligibility and identity-verification details.
2. Link your current bank
Connect Envelope to the account where your money is currently held.
If your current bank supports Plaid Exchange, search for Envelope in that bank's app and verify your phone number to link the accounts.
If Plaid is unavailable, link manually with your Envelope account number and routing number.
For the fastest ACH transfer, initiate the transfer from the bank currently holding the money. See How to make ACH transfers faster.
3. Move direct deposit
Give your Envelope account and routing numbers to your employer or payroll provider. Ask when the change will take effect so you can plan around upcoming bills. See Set up and troubleshoot direct deposit.
4. Update your mortgage or rent
Change the payment method in your mortgage or rent portal to your Envelope account and routing numbers, or to your Envelope card when card payments are supported.
5. Update recurring payments
Download a recent statement from your old bank and identify every recurring payment, including:
Housing and utilities
Car payments and insurance
Phone and internet bills
Subscriptions and memberships
Update each merchant with your Envelope account or card information.
6. Update everyday payments
Connect Envelope to payment apps such as Venmo, PayPal, and Cash App.
Update saved cards in shopping, grocery, food-delivery, and transportation apps.
7. Confirm the transition
Keep enough money in the old account to cover uncleared checks and pending payments. After deposits and recurring payments are successfully using Envelope, close the old account according to that institution's process.
8. Build your budget
Create envelopes, add budgets, and configure funding so new income is organized automatically.