Switching banks, how do I tell my merchant services to use my new bank accounts?

Hi there! For context: I inherited many new responsibilities after my accounting-finance boss left the organization on short notice. So TBH, I am not the most equipped at this moment, but I am doing my best to keep things going, and my management does think I'm doing a good job holding the fort.

We intend to do banking at an entirely different bank; due to some shady stuff our current bank has done leading up to the 2008 financial crisis. However, I just realized that I can't just call up my merchant services and tell them to use my new bank accounts. I've done some reading online, and it seems like there's an entire ecosystem of merchant services+banking that exists, that I cannot wrap my head around.

We have 2 existing monthly donor programs that are using 2 different merchant services at a bank that we intend to move away from. Do we have to abandon the 2 existing merchant services and develop an entirely new merchant services relationship with our new bank?


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