Use Case: Add a New Bank Account for Your Business

You can add a bank account to the platform using Plaid or by manually entering your account information. Adding a bank account gives you flexibility in how you accept payouts, pay fees, and manage other aspects of your account related to reserves, billing, and disbursements. This tutorial shows you how to add a bank account to your Portal account.

Audience: Partner, Merchant

Add a New Bank Account

Complete all steps in the following sections.

Prerequisites

Before you begin, you must:

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

• Have a valid bank account information available, including the account and routing numbers. If you’re adding an account linked with Plaid, have your banking institution’s online account login credentials accessible.

• Have a file containing an image of a voided check, bank statement, or bank letter to submit as supporting evidence.

Access Your User Profile Page

1. Click PROFILE, located in the upper-right corner of the page, to open your user profile page.

   Important!

   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 onboarded 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

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

2. Click ADD NEW ACCOUNT in the upper-right corner of the Banking tab to open the Add Account dialog on the page.

3. Add your bank account information manually or link it with Plaid using the applicable steps in the following sections.

   Note

   If you’re adding an account manually, 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.

Link bank account information with Plaid

1. Click LINK ACCOUNT in the dialog.

2. Choose the usage type for the new account from the dropdown menu. Select from All, Deposits, or Billing.

3. Click LINK NEW BANK ACCOUNT to open the Plaid Integration dialog on the page.

4. Follow the prompts by Plaid to finish adding and verifying the new account.

Add bank account information manually

1. Click ADD 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.

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

3. Enter the information in the required fields and upload a file that contains an image of a voided check, bank statement, or bank letter.

4. (Optional) Click ADVANCED in the dialog to enter an optional account name or description.

5. Click ADD to complete submitting the bank account information for risk review.

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

Next Steps

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

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

• Add a Merchant's New Bank Account: Add a bank account to your merchant’s portal account.