After updating bank information will funds owed to me be automatically deposited into new account?

Hi, baginsberg-gmail.

Thank you for posting your concern here in the Community.
Are you using QuickBooks Payments? If yes, QuickBooks automatically process and deposit to your new account.

You can check this article if you need help: Changing accounts in QuickBooks Payments.

Please let us know if you have additional concerns. I'm always here to help.