You can add additional bank accounts to your {{glossary.entity}} at any time after adding your first required bank account with signup. Adding a bank account can give you flexibility in how you accept payouts, pay fees, and manage other aspects of your account related to reserves, billing, and disbursements. This tutorial walks you through the steps for adding a new bank account to your {{glossary.Portal}} account.

Objective

Add a new bank account to the platform using Plaid or manually enter account information.

Audience

{{variable.Partner}}s
Merchants

Environment

Portal (Sandbox)
Portal (Production)

Prerequisites

Notes
You must have a fully boarded {{glossary.Payrix Pro}} account to perform any of the actions described in the use case guides.
You must have valid bank account information available, including the account and routing numbers.
You must have a file containing an image of a voided check, bank statement, or bank letter ready to submit as supporting evidence.

Important notes

Important!
Plaid and Tokenized Account Numbers (TANs): Some banking institutions, such as Chase Bank, use a tokenized account number (TAN) for each individual third-party integration of a user's bank account to protect the original account and routing numbers, never allowing them to be seen by any third-party integration.
This means that if your TAN is ever compromised, a new one can be generated after contacting Chase Bank as opposed to the more time-consuming process of closing and re-opening a new account.
As a result, you might notice upon completing an integration with Chase Bank that the account and routing number shown in the portal will not match your original account and routing number. This is expected.
Visit Chase Bank’s developer article regarding TANs or contact Chase Bank if you have further questions or concerns.

Important!
Adding a New Account Manually: If you are adding an account manually, it will take up to 5 business days to verify the new account information. You can cancel or view the status of your pending manual review by viewing the Pending Change Requests section of the Banking tab on your entity’s Profile page.

Tips

Tip
Link with Plaid. Have your bank login ready! If you are adding an account linked with Plaid, ensure that you have your banking institution’s online account login credentials accessible.

Tip
Change Requests: Adding a bank account initiates a Change Request because the additional account might require manual review from a Payrix Pro risk analyst. You might also be required to submit documentation to support the validity of the new account.

Additional Resources

See the tips below to help you get started.

Read Adding a Bank Account for more information about adding a new bank account to your entity.

Add a New Bank Account

Ensure that you complete all steps in the following sections.

Access Your User Profile Page

Click PROFILE, located in the upper-right corner of the page, to open your user profile page.
Note
You must use the entity owner’s profile to add an entity’s bank account. This is the first user login provided to (or created for) the entity upon first being boarded to the platform.
You can also access your profile by clicking SETTINGS. Scroll down to the User Settings section and locate the User Account Information subsection. Click USER ACCOUNT INFORMATION to open your profile page.

Add Your Bank Account Information

Click BANKING in the left panel to open the Banking tab.
Click ADD NEW ACCOUNT in the upper-right corner of the Banking tab to open the Add Account lightbox on the page.
Add your bank account information manually or link it with Plaid using the applicable steps:

Link bank account information with Plaid

Click LINK ACCOUNT in the lightbox.
Choose the usage type for the new account from the dropdown menu. Select from All, Deposits, or Billing.
Click LINK NEW BANK ACCOUNT to open the Plaid Integration lightbox on the page.
Follow the prompts by Plaid to finish adding and verifying the new account.

Add bank account information manually

Click ADD ACCOUNT MANUALLY in the lightbox. 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.
Click ENTER ACCOUNT MANUALLY to open the Add Bank Account lightbox.
Enter the information in the required fields and upload a file that contains an image of a voided check, bank statement, or bank letter.
(Optional) Click ADVANCED in the lightbox to enter an optional account name or description.
Click ADD to complete submitting the bank account information for risk review, or click CANCEL to discard your information and return to the previous page.

Result: Your account information will be verified and linked with Plaid, or manually reviewed and approved by a Payrix Pro risk analyst before being approved for use by your entity on the platform.

Next Steps

After the account is verified and approved, review the following guides for managing bank accounts:

Update Your Bank Account: Update any information about accounts added to your portal account.

Conclusion

When the account verification is complete, the new account will be accessible for use in transactions, payouts, debits, and more.

Bank Account Maintenance

See Also