Digital Onboarding

  1. Digital Onboarding
  2. Direct Deposit

Quick, simple, and secure direct deposit switching

For many account holders, the hassle of switching primary primary institution for their direct deposit outweighs the benefits.

Q2 ClickSWITCH removes that friction, helping your institution drive deeper engagement from the moment an account is opened.

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Make it easy to switch direct deposit to your institution

Streamlined and trackable direct deposit switching

Automate the process for switching direct deposits, recurring payments, and automatic payments while leveraging a user-friendly admin portal to track activity and monitor conversions. 

Comprehensive employer database and integration capabilities

Offer an expansive database of hundreds of thousands of employers and the ability to integrate with new employers not already available. 

Lifetime loyalty and cross-sell opportunities

Direct deposit is a strong foundation for lasting loyalty. By making the direct deposit switch simple and secure, financial institutions strengthen long-term account holder relationships and increase cross-sell opportunities.

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What are the benefits of Q2 ClickSwitch for financial institutions?

Q2 ClickSWITCH delivers measurable benefits to financial institutions and account holders, making direct deposit switching a powerful driver of growth and engagement.

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    Streamline the switch

    In 90 seconds or less, account holders can move their direct deposit information, recurring payments, and automated payments to your institution. 

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    Establish primary banking relationships

    Direct deposit is a strong foundation for lasting loyalty. By making the direct deposit switch simple and secure, you strengthen long-term account holder relationships and accelerate profitable growth. 

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    Revive inactive accounts

    Simplified direct deposit switching makes it easier to reengage dormant accounts, encouraging account holders to deposit funds and restart digital or mobile banking activity. 

Quantifiable Results

By reducing friction in the onboarding process, including quick and simple direct deposit switching, financial institutions see improved retention and stronger opportunities for cross-sell growth. 

  • <120 seconds for automated direct deposit switching with Q2 ClickSWITCH
  • $150+ annual account profitability gain with onboarding best practices like easy account switching
  • 200+ financial institutions already rely on Q2’s direct deposit switching solution

  • Why is easy direct deposit switching important for financial institutions?

    Account holders often hesitate to move to a new financial institution. This is true even when they’re dissatisfied.

    That’s because transferring direct deposit information and automating payments can be a hassle. This inertia is often the single biggest barrier to changing financial institutions. 

    • Direct deposit is a critical step in establishing a primary bank account relationship
    • Without automated direct deposit switching, many account holders abandon the onboarding process before completing it
    • By simplifying this essential part of onboarding, financial institutions remove friction and accelerate adoption 

    When account holders can complete a direct deposit switch in just a few clicks, financial institutions see higher conversion rates and stronger retention. There are also increased opportunities for cross-sell across mobile banking, online banking, and other digital banking services.

    Making deposit switching easy translates directly to profitable growth.  

  • Why do financial institutions choose Q2 for direct deposit switching?

    Q2 ClickSWITCH is a secure, proven solution to simplify direct deposit account switching and improve account holder engagement.

    • Proven adoption: Q2 is trusted by more than 450 financial institutions.  

    • Extensive integrations: Q2 ClickSWITCH connects with hundreds of thousands of employers and payroll providers, with the ability to add new ones quickly for seamless direct deposit switching.

    • Trackable outcomes: Admin dashboards give financial institutions clear insights into onboarding performance, conversion rates, and deposit activity.

    With Q2 ClickSWITCH, your financial institution can remove barriers to establishing primacy and build stronger long-term relationships. 

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