Bill Switch

Pinwheel’s Bill Switch empowers financial institutions to drive account primacy by giving their customers an intuitive, seamless way to instantly switch recurring Bill Payments into their bank account—all within the bank’s digital experience. By simplifying this high-impact onboarding and engagement activity, Bill Switch helps banks increase deposit volume, improve retention, and make their checking account the financial center of their customers' lives.

Key benefits include:

• Drive account primacy with effortless bill switching
• Increase core deposits by capturing recurring payment flows
• Improve customer stickiness by making the bank account the hub for spending
• Accelerate time to value during onboarding and deepen customer engagement

Key features include:

• Simple bill switch experience: users can update their payment method (ACH or card) for eligible merchants, directly from the bank’s app
• Real-time confirmation and tracking of bill switch outcomes
• Streamlined UX optimized for driving primacy and conversion

How Switch Kit works:

• The end user is prompted to connect their external bank and credit card accounts
• Leveraging Pinwheel’s data connectivity infrastructure, Pinwheel automatically detects and surfaces recurring payments on the user's behalf across the linked external financial accounts
• Pinwheel's direct integrations to merchants enables the user to select a bill and update the payment method on file in real time
• The outcome of each switch is communicated back to the user instantly, and the statuses are tracked for transparency

Note: In the cases where Automated Bill Switching is not available, Pinwheel provides users with instructions on how to complete the switch, as well as account/card information copy and paste capabilities to make the process as frictionless as possible.