Use Case: Respond to a Bank Account Change Request

Owned by Miles Graves
Last updated: Dec 24, 2024 by Ada Li
3 min read

You can use the Change Management Request queue to respond to manually submitted bank account additions and updates, approving or declining the change. This tutorial walks you through the steps for approving or declining bank account change requests from Referrers and Merchants.

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Partial view of the Risk Management page under the Change Requests queue.

Objective

Respond to a Referrer or Merchant’s manual bank account addition or change of information.

Audience

  • Facilitators

Environment

  • Portal (Sandbox)

  • Portal (Production)

Prerequisites

Prerequisites:

  • You must have a fully boarded Payrix account to perform any of the actions described in the use case guides.

Tips

Tip: If you want to acknowledge that you received the change request but are not ready to approve or decline the change request, we recommend using the Mark as Reviewed option so that the update can be seen from the Merchant and Referrer’s Pending Change Requests queue.

Additional Resources

Respond to the Change Request

1. Access the Change Requests management queue.

  1. Click Risk in the left navigation panel to open the Risk Management page.

  2. Click the Change Requests tab.

2. Respond to the Change Request

  1. Locate the change request you’d like to respond to and click the vertical ellipses ⋮ on the right of that listing to reveal the available actions.

  2. Approve or decline the change request after reviewing the supporting documentation:

  1. Click Approve from the listed action options to approve the submitted change request.

  2. A Create Note box appears with the original change request information. You can add additional information or make the note public before clicking ADD to complete the approval.

  1. Click Decline from the listed action options to deny the submitted Change Request.

  2. Select a Reason Type and leave a Reason as a written description expressing why the change request was denied:

    • Unable to validate: The information provided doesn't allow risk analysts to validate your information.

    • No Response: Analysts have followed up with additional questions and received no response.

    • Invalid Document: The document provided for review was not sufficient.

    • Unable to read: The document provided was unreadable.

    • Expired Document: The document provided has expired.

    • Other: Custom reason, filled out by reviewing Risk Analyst as needed.

  3. A Create Note box appears with the original change request information. You can add additional information or make the note public before clicking ADD to complete the approval.

Result: After reviewing the change request, the account is approved and ready for use by the Referrer or Merchant, or the account was declined with a reason that the Referrer or Merchant should be able to resolve or submit new account information.

Next Steps

After manually reviewing the Change Request, review the following guides for related topics:

Conclusion

After responding to the bank account change request, the requesting entity can begin using its bank account on the platform immediately, if approved. If declined, the entity will need to re-attempt after resolving the reason for the decline.

References

Click the links or items below to access any of the following pages: