Updating your bank account information for payouts is an important task to ensure that your payments are processed smoothly and securely. This article provides a step-by-step guide on how to update your payout bank account in our system.
Step-by-Step Guide to Updating Your Payout Bank Account
1) Access Settings
Log into your Payments account and navigate to the Settings section. This area contains various options to customize and manage your account details.
2) Customer Identification
Within the Settings menu, locate the section titled Customer Identification. This section is designed to manage essential user information, including payout preferences.
3) Delete Original Bank Account
Under the subsection titled 'To set up your account, let us know where to send your payouts.', you will find an option to delete the bank account. Click this link to remove the original bank account.
4) Add Payout Account
Under the subsection titled 'To set up your account, let us know where to send your payouts.', you will find an option to 'Add payout account'. Click this link to begin the process of adding a new bank account for your payouts.
Frequently Asked Questions
Q: How long does it take to verify a new bank account?
A: The verification process can take a few business days. We recommend adding and verifying your new account well ahead of any upcoming payout dates.
Q: Can I have multiple payout accounts?
A: Currently, our system supports having one active payout account at a time. If you wish to change your payout account, you must replace the existing one as described above.
Q: What will happen to any payouts due to be processed while the account is being changed?
A: As soon as the old payout account is deleted, no further payouts can be processed until the new payout account has been activated. Any payouts will be held during that time and processed during the next payout.
Conclusion
Updating your payout bank account is a straightforward process that ensures your transactions continue without interruption. Following the steps above will help you manage your payout settings efficiently. If you encounter any issues or have further questions, please contact our support team for assistance.