How Do I Change My Banking Info?
Keeping your banking information up to date is crucial to ensure that you receive your funds. If you are wondering what goes into the process, we have provided the steps required to change your info.
You need to notify your relationship manager immediately if you plan on changing your bank information for your merchant account. Without the proper banking information, we won’t be able to process your transactions.
The DDA number is your checking account number. If this is changed, notify your Relationship Manager or Customer Services in order for to receive the Electronic Funding Agreement.
The steps to change banking information are simple:
- Provide a new voided check for your updated checking account. Make sure this isn’t a starter check. This won’t work because starter checks rarely contain your personal banking information.
If you do not have any checks, you can provide a bank letter. This letter contains a letterhead, account status, bank account and routing number, and a signature from a bank representative.
- Sign the authorization form (also known as the change form)
Your Account Manager will provide the authorization form which will need your signature to successfully update the information.
The person signing for the change must be the same person who signed the original forms when the merchant account was established. We match hard signatures to ensure security of your account.
- Wait for authorization. This process is quick and if there are no issues found, your Account Manager will approve the change and you can begin processing once again.
We take certain security procedures – like hard matching signatures – because some of the most important information regarding your merchant account is your checking account information. To make sure that the information changing process goes smoothly, follow the steps we provided and you shouldn’t run into any issues!
