Use Case: Update your Merchant's Existing Bank Account

You can update bank account information for your merchants at any time. This tutorial shows your how to update bank account information for your merchant’s portal account.

Audience: Partner

Update the Merchant’s Bank Account

Ensure that you complete all steps in the following sections.

Prerequisites

Before attempting this tutorial, you must:

• Meet the general prerequisites described in Get Started with Use Case Tutorials.

• Ensure that your merchant has an approved bank account linked to their portal account.

• Have the merchant’s bank account information, including the account and routing numbers.

• Have a file containing an image of a voided check, bank statement, or bank letter to support the validity of the new account.

Open the Merchant Profile

1. Click MERCHANTS in the left navigation panel to open the Merchants page.

2. Locate the merchant in the table and select any information in the table row to open the Merchant Profile page.

Update Your Merchant’s Bank Account Information

1. Click BANKING in the left panel to open the Banking Tab.

2. Click EDIT ACCOUNT on the right side of the Bank Accounts table to open the Edit Account dialog on the page.

3. Click EDIT ACCOUNT MANUALLY in the dialog. Read the information in the Warning box that appears on the screen, and click CONTINUE to confirm that you agree, or click CANCEL to return to the previous screen.

4. Click ENTER ACCOUNT MANUALLY to open the Add Bank Account dialog.

5. Enter the information in the required fields.

6. Click SAVE to complete your edit, or click CANCEL to discard the changes and return to the previous page.

Result: The merchant’s bank account is shown in the Pending Change Requests section of the page. This account information will be manually reviewed and approved by a Payrix Pro risk analyst before being approved for use by their entity on the platform. When the Merchant’s bank account verification is complete, their new account information will be accessible for transactions, payouts, debits, and more.

Note

Verification of the new account information will take up to five business days. To cancel or view the status of your pending manual review, go to the Pending Change Requests section of the Banking tab on your entity’s Profile page.

Next Steps

After the merchant’s bank account is verified and approved, review the following guides:

• Add a New Bank Account for Your Business: Add a new bank account to your entity.

• Update your Existing Bank Account: Update bank account information for your entity.