All Merchants or Referrers processing on the Platform are required to must 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 that or Referrers who are already boarded or integrating new bank accounts in the future.

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 a Merchantan 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 negative balances owed.

Merchants or Referrers can use one bank account on file for both payouts and debits, individual bank accounts for deposits and debits, or multiple bank accounts with unique, individual purposes.

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Bank Account Validation

As a Payment Facilitator, the Platform validates any bank account submitted by a Merchantan 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.

To perform the validation, the Platform uses Plaid to allow Merchants or Referrers to linktheir bank account(s) for instant validation using a Portal lightbox to securely log in to their bank for integration.

For instances where a Merchant an entity attempts to manually add new bank information or change existing bank information, follow the Manual Account Validation process below:

Manual

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Bank Account Validation

Anchor
manualValidation manualValidation

If a Merchant an entity manually submits their its bank account, they are required to submit documentation to Platform Risk for account validation.

When entering information in the Portal for a new bank account manually, like account and routing numbers, a file upload window at the bottom of the form requires a document file to be uploaded before the form can be submitted. This can also be achieved using the API . See using the steps provided below:.

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Submit Bank Account Supporting Documents using the API

URL

POST https://api.payrix.com/noteDocuments

Header

Content-Type:application/json
APIKEY:{{private_api_key}}

Request Body

{
  "note": "{{Note_ID}}",
  "type": "PNG",
  "documentType": "voidCheck",
  "description": "Description of file"
}

Example Response

{
    "response": {
        "data": [
            {
                "id": "{{Document_ID}}",
                "created": "2024-08-18 13:22:51.2252",
                "modified": "2024-08-18 13:22:51.2252",
                "creator": "{{createdByUserId}}",
                "modifier": "{{createdByUserId}}",
                "note": "{{Note_ID}}",
                "custom": null,
                "type": "PNG",
                "documentType": "voidCheck",
                "name": null,
                "description": "Description of File",
                "status": "created",
                "inactive": 0,
                "frozen": 0
            }
        ],
        "details": {
            "requestId": 1
        },
        "errors": []
    }
}

Qualifying Bank Account Supporting Documentation is:

• A Void Check,

• A Bank Letter, or;

• A Bank Statement.

Link a Bank Account with Plaid

With Plaid enabled Merchants will be prompted to go through the bank account linking process as they sign up.

When entering information in the Portal for a new bank account manually, like account and routing numbers, a file upload window at the bottom of the form requires a document file to be uploaded before the form can be submitted.

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Link a Bank Account with Plaid

With Plaid enabled Merchants or Referrers will be prompted to go through the bank account linking process as they sign up.

Linking a New Bank Account with Plaid

This process will require the Merchant to submit their confidential online banking login and should only be completed by one of the Merchant’s users directly and not by anyone else on the Merchant’s behalf.

How to Manually Add a New Bank Account

If a Merchant’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:

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

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

See the Manual Validation Process above for more information on qualifying support documents, and the manual review approval period timeline.

Manually Adding a New Bank Account in the Portal

The Portal uses the Banking tab within the Merchant Profile to update or add new bank account information to a specific Merchant. In instances where a Merchant’s banking institution does not currently integrate with Plaid, or the Merchant would like to manually add the account, this option is useful.

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How to Manually Add a New Bank Account

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

There are two methods available to 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.

See the Manual Validation Process above for more information on qualifying support documents, and the manual review approval period timeline.

Manually Add a New Bank Account in the Portal

The Portal uses the Banking tab within the Merchant Profile to update or add new bank account information to a specific Merchant. In instances where an entity’s banking institution does not currently integrate with Plaid, or the Merchant would like to manually add the account, this option is useful.

POST https://api.payrix.com/accounts

Content-Type:application/json
APIKEY:{{private_api_key}}