How do I change my bank account?

To update your bank account information, follow the steps below:

1. Log in to the Paysafe Business Experience portal using your credentials and navigate to Merchant > Merchant Information.

2. Under Payments, go to Bank Accounts and click ‘Update connected bank account’.

   

3. A pop-up window will appear, where you’ll be asked to link your bank account using your online banking credentials. We will first attempt to validate the change automatically. If this fails or is unavailable, you’ll be asked to attach a supporting document to validate the change.

Automatic Bank Account Change

Our system runs a check using Plaid – a secure third-party service to confirm and link your bank account, so that you don’t need to manually enter your bank details. Plaid has no access to your online banking credentials and will be used only to securely validate your bank details. To start the verification, follow the steps below:

1. After clicking ‘Update connected bank account’, you will see a message informing you that Plaid will be used to verify your bank account. Click Continue to Plaid.

   

2. Select your bank from the list or search for it. Log in using your online banking credentials.

   

3. Complete any additional authentication that may be required by your bank.
4. Choose the account you want to link, agree to Plaid’s terms, and click Connect.

If your data is successfully verified, you’ll see a message confirming the change, and your new bank account will be instantly reflected on the Paysafe Business Experience portal. 

Manual Bank Account Change

If we can’t automatically verify your bank account, you’ll see a message prompting you to upload supporting documents to validate the change request. To request a manual update, follow the steps below:

1. Click ‘Update with self-service’. You’ll first be asked some questions about your business and checking account.
2. Enter your bank details (bank name, routing and account number), ensuring all fields are filled out correctly.
3. Upload a supporting document (e.g., voided check, bank letter, direct deposit form, bank statement) and click Submit to send your request.  

We accept the following documents as forms of validation:

• Voided Check 
• Bank Letter 
• Direct Deposit Form 
• Bank Statement 

The file type must be .pdf, .png, or .jpeg, and the maximum file size should not exceed 25MB. Below you will find the minimum requirements for your supporting document: 

• Voided checks must include: business or individual name, payee line, dollar box and written amount line, memo line, signature line, bank’s name/logo, and routing and account number.
• Bank letters must be printed on official bank letterhead with logo, signed by a business representative, and must be dated within the last 90 days. They must include the bank representative’s contact information, and must show your business name, DBA (Doing Business As) name, or legal name.
• Direct deposit forms and bank statements must show the bank name, business name, account holder name, account and routing numbers, signature and date, and bank stamp. Bank statements must also show account type.

Once you submit the required documentation, our team will review your request and update your bank account information, typically within 48 business hours.

You can follow the progress of your request by going to the Support Hub of your Paysafe Business Experience portal. Simply search for a ticket titled ‘Connected bank account update request’, which will be automatically created following your request.

Once the change has been applied, you’ll be able to see your new bank account on the portal under Merchant Information > Payments tab.