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.

Note: This process and its review period apply to Merchant and Referrer-level users.

Bank Account Types and Requirements

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

Account for Deposits - A required bank account to receive deposits from Available Balance funds.
Account for Debits - A required bank account to be debited to cover 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.

Bank Account Validation

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 due to a typo or invalid information.

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

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

Manual Bank Account Validation

If an entity manually submits 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 using the steps provided below.\

Qualifying Bank Account Supporting Documentation is:

A Void Check,
A Bank Letter, or;
A Bank Statement.

For existing bank accounts, supporting documents are only required if the routing or account number fields are being updated. Changes to account types do not require supporting documentation.

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.

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.

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.

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.

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.

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.

Click 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.

Notice of Tokenized Account Numbers (TANs)

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

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

If your TAN is ever compromised, a new one can be generated after contacting Chase Bank instead of the more time-consuming process of closing and re-opening a new account.

As a result, 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.

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.

Note: Manually adding a bank account requires a manual review of supporting documents to approve the addition.

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.

Click 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:

“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 Files field.

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

Warning: You cannot use a manually added account for up to 5 business days from update or creation until approved by Underwriting.

Click 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 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.

Manually Add a New Bank Account using the API

Bank accounts can also be manually submitted using the API by sending a POST request to the /accounts endpoint. In the body of the request, you will include the Entity ID of the Merchant, as well as the data for the below fields.

You can find the full description of this resource in our API Reference.

Step 1 - Add new account information.

Manually Add a New Bank Account - Example Code Snippet

Visit our API Documentation for parameter descriptions and valid values.

Request URL & Header

POST /accounts HTTP/1.1
Accept: application/json
Host: api-test.payrix.com
APIKEY:{{private_api_key}}

Example Request Body

{
    "entity": "t1_ent_xxxxxxxxxxxxxx",
    "primary": "0",
    "currency": "USD",
    "name":"Bank Account Non-Primary",
    "account": {
        "method": "10",
        "number": "{{New_Account_Number}}",
        "routing": "{{New_Routing_Number}}"
        }
}

Example Response

{
    "account": {
        "id": "t1_pmt_xxxxxxxxxxxxxxxxx",
        "method": "10",
        "number": "1234567890123456",
        "routing": "123456789",
        "bin": "123456789",
        "payment": null,
        "lastChecked": null,
        "last4": "1111"
    },
    "id": "t1_act_xxxxxxxxxxxxxxxxx",
    "created": "2023-08-18 15:37:56.9284",
    "modified": "2024-08-18 15:37:56.9284",
    "creator": "t1_log_xxxxxxxxxxxxxxx",
    "modifier": "t1_log_xxxxxxxxxxxxxxxx",
    "entity": "t1_ent_xxxxxxxxxxxxxxxxx",
    "token": "ac1234cc5ae67b89101a11213d1a4e15",
    "name": "Bank Account Non-Primary",
    "description": "",
    "primary": "0",
    "status": 0,
    "currency": "USD",
    "inactive": 0,
    "frozen": 0,
    "expiration": null,
    "type": "all",
    "reserved": 0,
    "checkStage": null
}

Step 2 - Create a new note associated with the entity (Merchant).

Create a Note Resource to Associate with an Entity and Documents - Example Code Snippet

Visit our API Documentation for parameter descriptions and valid values.

Request URL & Header

POST /notes HTTP/1.1
Accept: application/json
Content-Type: application/json
Host: api-test.payrix.com
APIKEY:{{private_api_key}}

Example Request Body

{
  "login": "t1_log_xxxxxxxxxxxxxxxx"
  "entity": "t1_ent_xxxxxxxxxxxxxxxx",
  "type": "note",
  "data": "ABC Company Bank Account Change Request",
  "note": "Supporting documents for account change.",
}

Example Response

{
  "id": "t1_not_xxxxxxxxxxxxxxxxxx",
  "created": "2023-10-25T19:10:44.278Z",
  "modified": "2024-10-25T19:10:44.278Z",
  "creator": "t1_log_xxxxxxxxxxxxxxxx",
  "modifier": "t1_log_xxxxxxxxxxxxxxxx",
  "login": "t1_log_xxxxxxxxxxxxxxxx",
  "entity": "t1_ent_xxxxxxxxxxxxxxxxx",
  "type": "note",
  "data": "ABC Company Bank Account Change Request",
  "note": "Supporting documents for account change.",
  "inactive": "0",
  "frozen": "0"
}

Step 3 - Create a new document (noteDocument) associated with the new Note.

Create a Document Resource to Associate with the Note - Example Code Snippet

Visit our API Documentation for parameter descriptions and valid values.

Request URL & Header

POST /noteDocuments HTTP/1.1
Accept: application/json
Content-Type: application/json
Host: api-test.payrix.com
APIKEY:{{private_api_key}}

Example Request Body

{
  "note": "t1_not_xxxxxxxxxxxxxxxxxx",
  "type": "png",
  "documentType": "voidCheck",
  "description": "Updating Existing Bank Account.",
  "name": "Voided Bank Check for ABC Company",
  "status": "created",
  inactive: "0",
  frozen: "0"
}

voidCheck is used in the example above, but any of the following documents can be used in this process:

voidCheck - A voided check for bank account verification.
bankStatement - A bank statement.
bankLetter - A bank letter for verification.

Warning: Submitting the wrong documentType (i.e. submitting a bank letter when voidCheck is selected) may cause significant delays in underwriting approval.

Example Response

{
  "id": "t1_ntd_xxxxxxxxxxxxxxxxxx",
  "created": "2024-08-18 13:22:51.2252",
  "modified": "2024-08-18 13:22:51.2252",
  "creator": "t1_log_xxxxxxxxxxxxxxxxxx",
  "modifier": "t1_log_xxxxxxxxxxxxxxxxxx",
  "note": "t1_not_xxxxxxxxxxxxxxxxxx",
  "type": "png",
  "documentType": "voidCheck",
  "name": "Voided Bank Check for ABC Company",
  "description": "Updating Existing Bank Account",
  "status": "created",
  "inactive": "0",
  "frozen": "0"
}

Step 4 - Upload the document file to the associated new document (noteDocument).

Upload the Image or Document File Associated with the Entity’s Note - Example Code Snippet

Visit our API Documentation for parameter descriptions and valid values.

Request URL & Header

POST /files/noteDocuments/{id} HTTP/1.1
Accept: application/json
Content-Type: multipart/form-data
Body: form-data
Host: api-test.payrix.com

Example Request Body (form-data)

name: Document Name
filename: <Selected File>

Example Request Body (JSON)

{
  "credential": "string",
  "type": "png",
  "integration": "PAYRIX",
  "direction": "upload",
  "status": "pending",
  "retries": 0,
  "name": "Voided Bank Check for ABC Company",
  "inactive": 0,
  "frozen": 0
}

Example Response

{
  "id": "t1_fil_xxxxxxxxxxxx",
  "created": "2023-10-25T19:10:44.278Z",
  "modified": "2023-10-25T19:10:44.278Z",
  "creator": "t1_log_xxxxxxxxxxxxx",
  "modifier": "t1_log_xxxxxxxxxxxxx",
  "credential": "string",
  "integration": "PAYRIX",
  "name": "Voided Bank Check for ABC Company",
  "file": "string",
  "type": "png",
  "status": "pending",
  "retries": 0,
  "direction": "upload",
  "inactive": 0,
  "frozen": 0
}

Adding a Bank Account

Bank Account Types and Requirements

Bank Account Validation

Manual Bank Account Validation

Link a Bank Account with Plaid

Linking a New Bank Account with Plaid

Notice of Tokenized Account Numbers (TANs)

How to Manually Add a New Bank Account

Manually Add a New Bank Account in the Portal

“Adding a New Bank Account” fields & descriptions

Manually Add a New Bank Account using the API

Manually Add a New Bank Account - Example Code Snippet

Create a Note Resource to Associate with an Entity and Documents - Example Code Snippet

Create a Document Resource to Associate with the Note - Example Code Snippet

Upload the Image or Document File Associated with the Entity’s Note - Example Code Snippet