Switch Kit

Pinwheel’s Switch Kit empowers financial institutions to drive account primacy by giving their customers an intuitive, seamless way to instantly switch both Direct Deposits and Recurring Bill Payments into their bank account—all within the bank’s digital experience. By simplifying this high-impact onboarding and engagement activity, Switch Kit 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 direct deposit switching and bill switching in a single interface
Increase core deposits by capturing payroll and recurring payment flows
Improve customer stickiness by making the bank account the hub for income and spending
Accelerate time to value during onboarding and deepen customer engagement

Key features include:

Frictionless direct deposit switching via Pinwheel’s market-leading payroll connectivity, enabling users to redirect paychecks with just a few clicks
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 deposit switch and bill switch outcomes
Streamlined UX optimized for driving primacy and conversion

How Switch Kit works:

For Direct Deposit, Pinwheel serves your customers an appropriate, optimized deposit switching flow based on their unique context and income source
For Bill Switch, 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 (Direct Deposit and/or Bill 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.