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All Merchants or Referrers processing on the Platform are required to have at least one U.S. or Canada-based bank account on file. Therefore, new Merchants or Referrers are prompted to enter their bank account during the onboarding process. This document will guide you through the process of adding additional bank accounts for Merchants or Referrers who are already boarded or integrating new bank accounts in the future.

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Note: This process and its review period

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apply to Merchant and Referrer-level users.

Bank Account Types and Requirements

All Merchants or Referrers boarded to the Platform are required to must have an active U.S.-based bank account on file. A bank account serves two purposes for an entity:

  • Account for Deposits - Arequired bank account on file to receive deposits from Available Balance funds.

  • Account for Debits - A required bank account on file to be debited to cover Negative Balances owed.

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As a Payment Facilitator, the Platform validates any bank account submitted by an entity. This validation includes active status, type of account, & ownership and prevents funds from being sent to an incorrect bank account as the result of due to a typo or invalid information.

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Note

Warning: For existing bank accounts having account or routing numbers updated, a manual review of the supporting document(s) is required for approval and can take up to 5 business days.

Warning

Critical Warning: During the 5-day manual review and approval period, all payments processed will still be funded to your Portal account’s available balance and will be ready for immediate withdrawal to your bank account, once validated.

  • Enhancements to fund a previously approved account while you wait for a new account to be approved, coming soon.

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Expand
titleClick here to see Portal steps for linking a new bank account with Plaid.

Step 1: Navigate to the Merchants page or Referrers page within the Management category.

Step 2: Click on the desired Merchant to bring up their Merchant Profile or Referrer Profile.

Step 3: Click the Banking tab on the left.

Step 4: Click the ADD NEW ACCOUNT button in the upper right-hand corner.

Step 5: Click the LINK ACCOUNT button in the lightbox and select the type of usage: Billing, Deposits, or All.

Step 6: Click the LINK NEW ACCOUNT button in the lightbox to reveal the Plaid integration lightbox.

Step 7: Complete each Plaid prompt:

  • Click the Continue button to accept the Plaid End User Privacy Policy

  • Click the Continue to Login button after selecting the information you’d like to share from the checkboxes available to redirect to your banking institution’s online account login.

  • Click each checkbox next to the banking account(s) you’d like to add to your Merchant account and click the Continue button at the bottom of the lightbox.

  • Click on the Terms and Conditions checkbox to acknowledge and accept the terms and information being shared. Then, click the Connect account information button.

  • Click the final Continue button to complete the process.

Note

Notice of Tokenized Account Numbers (TANs)

Some banking institutions, such as Chase Bank, utilize a tokenized account number or TAN for each individual third-party integration of a users user's bank account.

This security practice protects your original bank account and routing numbers by never allowing them to actually be seen by any third-party integration.

  • This means that if If your TAN is ever compromised, a new one can be generated after contacting Chase Bank as opposed to instead of the more time-consuming process of closing and re-opening a new account.

As a result, you may 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 Chase Bank.

This is expected. Contact Chase Bank or visit Chase Bank’s Developer article regarding TANs if you have further questions or concerns.

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If an entity’s bank is not eligible for use with Plaid, or if they wish to skip the Plaid process, they can also manually add a new bank account.

There are two methods available to manually add a new bank account manually:

  • Use the Portal to enter bank account information and upload documentation in the Merchant Profile.

  • Use the API to enter the information using the /accounts endpoint and submit documentation separately.

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Expand
titleClick here to see Portal steps for manually adding a new bank account.

To manually add a new bank account in the portal, follow the steps below:

Step 1: Navigate to the Merchants page within the Management category.

Step 2: Click on the desired Merchant to bring up their Merchant Profile.

Step 3: Click the Banking tab on the left.

Step 4: Click the ADD NEW ACCOUNT button in the upper right-hand corner.

Step 5: Click the ADD ACCOUNT MANUALLY button in the lightbox and view the prompt below:

Info

“Adding a new bank account will take up to 5 business to verify, you can continue to use your current bank account until your new account is confirmed

You will be required to upload a void check, bank statement, or bank letter to verify your account, Thank you for helping to keep your account safe.”

Step 6: Click Continue on the prompt, then click the ENTER ACCOUNT MANUALLY button.

Step 7: Enter the Type of bank account, Routing & Account Number, and Usage Options

  • Click ADVANCED OPTIONS to add an optional bank account name and description.

Step 8: Upload one of the qualifying support documents into the Upload and attach filesAttach Files field.

Step 9: Click the ADD button to complete the process.

Warningnote

NoteWarning: You will not be able to use this cannot use a manually added account for up to 5 business days from update or creation until approved by Underwriting.

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titleClick here to view all fields and descriptions for the Add Bank Account form.

“Adding a New Bank Account” fields & descriptions

Field

Required

Description

Type

Required

From the dropdown menu, select what time of bank account is being added.

Valid Values:

  • Checking

  • Savings

  • Corporate Checking

  • Corporate Savings

Info

It is important to specify if a bank account is a corporate or personal account.

Routing Number

Required

Enter the 9-digit routing number associated with this bank account.

Account Number

Required

Enter the account number associated with this bank account.

Usage

Required

From the dropdown menu, select whether this bank account will be utilized for deposits, debits, or both (All).

Bank Account Name (Advanced Options)

Optional

You can give the new bank account a custom name to differentiate it from other bank accounts on file.

Account Description (Advanced Options)

Optional

Use this field to give the bank account a custom description if desired.

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