5 MIN READ
Activation
Case Study: Lettuce Financial
A sponsor bank move is complete when customers run their business from the new account. See how Lettuce built that switch into its product with InstaSwitch.
InstaSwitch
Lettuce Financial, a provider of solopreneur-focused tax & accounting solutions, finished its move to i3 Bank while customers kept growing deposits to 130% of the original volume.. Changing sponsor banks gave every Lettuce customer 90 days to move the operational activity tied to the old account: income received from platforms and directly from clients, payroll, and bills & subscriptions. Lettuce used the move to launch a better banking experience and embedded InstaSwitch in its product so customers could complete the switch without leaving Lettuce.
Using each customer’s transaction history, InstaSwitch showed what needed to move, completed supported switches automatically, and gave customers exact steps for anything it couldn’t automate. On average, Lettuce customers completed their bank switch to i3 in 15 minutes, moving their income, bills and subscriptions, as well as client payments.
At a glance
Company | |
Use case | Sponsor bank migration to i3 Bank |
Scale | Thousands of accounts |
Deployment | InstaSwitch embedded in the Lettuce product |
Migration window | 90 days |
Time to switch | 15 minutes on average |
Deposit outcome | 100% of the deposit book moved to i3, with deposits growing to 130% of their original size during the migration |
Lettuce customers brought all of their deposits to i3
Thousands of Lettuce customers had 90 days to move their accounts and millions of dollars in deposits to i3. Every dollar made it. The business kept growing while the migration ran, and by the end Lettuce held 130% of its original deposits at i3. Over 95% of customers who started the InstaSwitch flow finished it, in 15 minutes on average. Via InstaSwitch, Lettuce migrated its customers to a new bank without disrupting how they run their business: income, client payments, bills, and subscriptions moved with the deposits.
Lettuce Financial, a provider of solopreneur-focused tax & accounting solutions, finished its move to i3 Bank while customers kept growing deposits to 130% of the original volume.. Changing sponsor banks gave every Lettuce customer 90 days to move the operational activity tied to the old account: income received from platforms and directly from clients, payroll, and bills & subscriptions. Lettuce used the move to launch a better banking experience and embedded InstaSwitch in its product so customers could complete the switch without leaving Lettuce.
Using each customer’s transaction history, InstaSwitch showed what needed to move, completed supported switches automatically, and gave customers exact steps for anything it couldn’t automate. On average, Lettuce customers completed their bank switch to i3 in 15 minutes, moving their income, bills and subscriptions, as well as client payments.
At a glance
Company | |
Use case | Sponsor bank migration to i3 Bank |
Scale | Thousands of accounts |
Deployment | InstaSwitch embedded in the Lettuce product |
Migration window | 90 days |
Time to switch | 15 minutes on average |
Deposit outcome | 100% of the deposit book moved to i3, with deposits growing to 130% of their original size during the migration |
Lettuce customers brought all of their deposits to i3
Thousands of Lettuce customers had 90 days to move their accounts and millions of dollars in deposits to i3. Every dollar made it. The business kept growing while the migration ran, and by the end Lettuce held 130% of its original deposits at i3. Over 95% of customers who started the InstaSwitch flow finished it, in 15 minutes on average. Via InstaSwitch, Lettuce migrated its customers to a new bank without disrupting how they run their business: income, client payments, bills, and subscriptions moved with the deposits.
Ran Harpaz
Founder & CEO, Lettuce Financial
“A bank migration can be a huge moment of trust building - it means asking customers to rewire their business into Lettuce after they had already done that once. Our approach has always been to lead with automation: InstaSwitch gave them one place to see what should move, automated the supported switches, and guided the rest. We finished the migration with every dollar of deposits we started with, kept growing to 130% along the way, and earned more trust with our customers.”
A migration is when customers look around
A bank migration could be an abrupt external event, forcing every customer to reconsider where their money lives, all at once. The migration typically isn’t their choice, they have to decide what moves, and it resurfaces a decision on who to trust with running their business finances.
That decision point is where deposits leave. In a wide market research, Deloitte found that 17% of customers moved at least one account to another institution after their bank was acquired, and 85% of those customers did it within three months of the announcement.
Lettuce wanted their move to i3 to feel like an upgrade, with faster check clearing, real-time payments, Zelle transfers, automated bill pay, and international payments enabled.
Customers had more immediate questions: Will my subscriptions clear? Will payouts land in the right account during the transition? What happens if a client sends money to the old account after it closes? Is all my income still flowing to the right place?
During the transition, both accounts stayed open while customers redirected income and payments to the new account and verified correct processing everywhere.
Most companies originally plan to run the migration by hand, with spreadsheets and customer-by-customer plans. Embedding InstaSwitch allowed Lettuce customers to see what needed to move and complete the switch inside the product, with a modern digital expe
A migration is when customers look around
A bank migration could be an abrupt external event, forcing every customer to reconsider where their money lives, all at once. The migration typically isn’t their choice, they have to decide what moves, and it resurfaces a decision on who to trust with running their business finances.
That decision point is where deposits leave. In a wide market research, Deloitte found that 17% of customers moved at least one account to another institution after their bank was acquired, and 85% of those customers did it within three months of the announcement.
Lettuce wanted their move to i3 to feel like an upgrade, with faster check clearing, real-time payments, Zelle transfers, automated bill pay, and international payments enabled.
Customers had more immediate questions: Will my subscriptions clear? Will payouts land in the right account during the transition? What happens if a client sends money to the old account after it closes? Is all my income still flowing to the right place?
During the transition, both accounts stayed open while customers redirected income and payments to the new account and verified correct processing everywhere.
Most companies originally plan to run the migration by hand, with spreadsheets and customer-by-customer plans. Embedding InstaSwitch allowed Lettuce customers to see what needed to move and complete the switch inside the product, with a modern digital expe
Jeremiah Porten
Lettuce Engineering Lead
“With 90 days to move every single customer, our team had its hands full with the rest of the backend migration. We embedded InstaSwitch in 2 weeks with little lift from our engineers, then the automations and guided updates were already there - all the tools our customers run on, like Stripe and Bill.com, were already built. We stayed focused on the core banking migration, and our customers could start switching as soon as it went live.”
Lettuce built the migration into the product
Lettuce ran the migration in cohorts, sending active, dormant, and unopened accounts different messages and deadlines based on where they were in the process. Every message brought customers back into the Lettuce platform to fund the new account and complete the switch.
Lettuce provisioned the new accounts automatically, and InstaSwitch handled the customer-facing switch. A migration task sat at the top of each customer’s dashboard, and customers worked through four steps:
1. Sign new bank agreements to set up the new account
Customers accepted the new agreements digitally and within seconds, Lettuce provisioned the new bank accounts and associated banking cards.
2. Fund the new account first
InstaSwitch used the last 120 days of activity in the original account data to recommend a funding amount and build each customer’s switch list. The recommendation appeared with a “Fund Now” button, so customers could fund the new account in seconds. Funding came first so scheduled bills and subscriptions wouldn’t hit an empty new account.
3. Move the operational activity
The switch list showed everything still pointing to the old account: income through platforms like Stripe, bills and subscriptions through tools like Bill.com, and payments coming directly from clients.
InstaSwitch completed a large set of pre-built supported switches automatically. For anything it couldn’t automate, customers were presented with guided steps and their new account details inside Lettuce.
Customers with clients paying via ACH or wire could share their new account details through a template and a secure sharing link.
Vendors were already set up automatically inside the Lettuce platform, so customers could start paying them from the new account without any additional migration steps.
4. Close out the old account
Once a customer finished their updates, or the migration window ended, Lettuce moved the remaining balance automatically and closed the old account without any work required.
The migration became reusable infrastructure
Lettuce chose to keep and expand the switching experience as part of its platform after the one-off sponsor bank move. New Lettuce customers arriving with any kind of external bank account can now use it, and Lettuce expanded the experience into a clients-first accounts receivable flow. What started as a migration task is now how Lettuce helps all their customers make it their primary business account, where they run all their business from.
For banks and fintechs planning a sponsor bank move or acquisition, this case study highlights that the migration plan has to cover account creation, balance transfer, and the operational activity around the account. The migration is complete when the customer can run the business from the new account.
If a migration is on your roadmap, we should talk about building the customer switch into your product from day one.
About Lettuce
Lettuce Financial is building a future where businesses-of-one are the defining force in the economy. Through its platform, Lettuce offers an integrated suite of services that gives solopreneurs access to many of the same advantages offered by the world's best businesses.
The platform provides a secure, all-in-one system powered by AI that streamlines business operations and finance, including accounting, taxes, payroll, healthcare, and retirement benefits. By handling the complexities of business management, Lettuce gives solopreneurs peace of mind and the financial edge to run and grow smarter, more profitable businesses.
Learn more at lettuce.co
About InstaSwitch
InstaSwitch is switching infrastructure for business banking, built so no fintech or bank loses a business to an incumbent because moving over was too hard. Fintechs and banks offer it inside their own product. A business chooses what to move, and InstaSwitch automates the switch across income, payroll, spend, vendors, and clients.
A full switch takes 15 minutes on average, and businesses that finish switching within 7 days deliver 95% higher lifetime value.
Lettuce built the migration into the product
Lettuce ran the migration in cohorts, sending active, dormant, and unopened accounts different messages and deadlines based on where they were in the process. Every message brought customers back into the Lettuce platform to fund the new account and complete the switch.
Lettuce provisioned the new accounts automatically, and InstaSwitch handled the customer-facing switch. A migration task sat at the top of each customer’s dashboard, and customers worked through four steps:
1. Sign new bank agreements to set up the new account
Customers accepted the new agreements digitally and within seconds, Lettuce provisioned the new bank accounts and associated banking cards.
2. Fund the new account first
InstaSwitch used the last 120 days of activity in the original account data to recommend a funding amount and build each customer’s switch list. The recommendation appeared with a “Fund Now” button, so customers could fund the new account in seconds. Funding came first so scheduled bills and subscriptions wouldn’t hit an empty new account.
3. Move the operational activity
The switch list showed everything still pointing to the old account: income through platforms like Stripe, bills and subscriptions through tools like Bill.com, and payments coming directly from clients.
InstaSwitch completed a large set of pre-built supported switches automatically. For anything it couldn’t automate, customers were presented with guided steps and their new account details inside Lettuce.
Customers with clients paying via ACH or wire could share their new account details through a template and a secure sharing link.
Vendors were already set up automatically inside the Lettuce platform, so customers could start paying them from the new account without any additional migration steps.
4. Close out the old account
Once a customer finished their updates, or the migration window ended, Lettuce moved the remaining balance automatically and closed the old account without any work required.
The migration became reusable infrastructure
Lettuce chose to keep and expand the switching experience as part of its platform after the one-off sponsor bank move. New Lettuce customers arriving with any kind of external bank account can now use it, and Lettuce expanded the experience into a clients-first accounts receivable flow. What started as a migration task is now how Lettuce helps all their customers make it their primary business account, where they run all their business from.
For banks and fintechs planning a sponsor bank move or acquisition, this case study highlights that the migration plan has to cover account creation, balance transfer, and the operational activity around the account. The migration is complete when the customer can run the business from the new account.
If a migration is on your roadmap, we should talk about building the customer switch into your product from day one.
About Lettuce
Lettuce Financial is building a future where businesses-of-one are the defining force in the economy. Through its platform, Lettuce offers an integrated suite of services that gives solopreneurs access to many of the same advantages offered by the world's best businesses.
The platform provides a secure, all-in-one system powered by AI that streamlines business operations and finance, including accounting, taxes, payroll, healthcare, and retirement benefits. By handling the complexities of business management, Lettuce gives solopreneurs peace of mind and the financial edge to run and grow smarter, more profitable businesses.
Learn more at lettuce.co
About InstaSwitch
InstaSwitch is switching infrastructure for business banking, built so no fintech or bank loses a business to an incumbent because moving over was too hard. Fintechs and banks offer it inside their own product. A business chooses what to move, and InstaSwitch automates the switch across income, payroll, spend, vendors, and clients.
A full switch takes 15 minutes on average, and businesses that finish switching within 7 days deliver 95% higher lifetime value.
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InstaSwitch
Drive deposit activation and account primacy with automated switching
The fastest way to activate new accounts, increasing your deposits and primary relationships.
© 2025 InstaSwitch. All rights reserved. All trademarks, logos, and brand names are the property of their respective owners. Use of these names, trademarks, and brands does not imply endorsement.
Designed by Unlimity
Get started
with
InstaSwitch
Drive deposit activation and account primacy with automated switching
The fastest way to activate new accounts, increasing your deposits and primary relationships.
© 2025 InstaSwitch. All rights reserved. All trademarks, logos, and brand names are the property of their respective owners. Use of these names, trademarks, and brands does not imply endorsement.
Designed by Unlimity
Get started with
InstaSwitch
Drive deposit activation and account primacy with automated switching
The fastest way to activate new accounts, increasing your deposits and primary relationships.
© 2025 InstaSwitch. All rights reserved. All trademarks, logos, and brand names are the property of their respective owners. Use of these names, trademarks, and brands does not imply endorsement.
Designed by Unlimity