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SunTrust launches service for switching personal checking accounts

US-based SunTrust Banks has launched a complimentary, secure service that allows new as well as existing customers to smoothly switch their personal checking accounts to SunTrust.

SunTrust mass market segment & value added services executive Whitney Stewart said, "Transferring direct deposits and online bills tied to a checking account are among the most time-consuming challenges once a client has decided to change financial institutions."

In order to avail the service, customers will have to provide information of any preauthorized recurring transactions such as billpay and direct deposit that are linked to the existing accounts they are moving.

The process of linking those transactions to customers’ SunTrust account will be completed by a dedicated team at the bank.

New account holders can also easily transfer any online billpay billers to their new SunTrust account using the automated online billpay system.

Headquartered in Atlanta, SunTrust Banks had total assets of $173.4bn and total deposits of $132.3bn as of 31 December 2012.

It provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services, through various subsidiaries.