Summary
Merchant account's linked bank account can be changed at any time. Changing your bank account will route all future payouts to the newly selected account.
Please note that changing your bank account may require accompanying documentation subject to a five day review process. During this document review, payouts will be paused until the change can be verified. Once verified, payouts will resume to the new bank account.
How to Update
You must be a Neon Pay administrator to update the merchant's bank account.
Log in to Neon Pay, and navigate to the Merchants Accounts menu. Select the merchant account whose linked bank account you’d like to update. Once you’ve located the correct merchant account, click the Edit icon next to Linked Bank Account.
You will then have the option to add a new bank account or use an existing bank account associated with your organization. Note: to see the bank accounts associated with your organization, you can go to My Bank Accounts.
Change Bank Account
If you would like to switch to an existing bank account, switch to the "Use existing bank account" option, and select the account from the dropdown.
Otherwise, enter your new bank information, including a name, account type, routing number, and your account number.
Click "Next" to proceed. If documents are not needed, you will be redirected to the Thank You screen, and payouts will continue as scheduled. If documents are needed, please continue with the Upload Documents section.
After closing the window, make sure your new account’s name and last four digits appear in your merchant details. All subsequent payouts will be disbursed to this account.
Upload Documents
If documents are required to process your bank change, you will be redirected to the document uploading form. Your bank account change will not be submitted until you complete this upload.
To continue, you will need a bank statement, bank letter, or void check. Select which you would like to upload.
Once you attach your document, you will be able to proceed. Please note that incorrectly labeled documents may cause significant delays in the review process. If you need to update the document type, you can do so before continuing.
All documents must be JPG, PNG, or PDF format, not password protected, and 1 MB or less.
Click "Submit," and your bank account change will begin the review process.
You can close the window and see your new bank account listed in your merchant details. Your new bank account is now linked to your merchant account pending approval. Until approval, payouts will continue to route to the previously listed account. Upon approval, subsequent payouts will be disbursed to the new bank account.
FAQ/Troubleshooting
I updated my bank account and I haven't received a payout.
If you changed your bank account within the past 5 days, your change request is still processing. Your payout schedule will resume after the 5 day review.
If it has been longer than 5 days or your change request did not require documents, please reach out to Pay Support.
Can I remove a bank account associated with my organization?
Yes. Any bank account not currently connected to a merchant can be removed on the Bank Accounts page. If the bank account you would like to remove does not have the delete icon, that means it is currently connected to one of your merchants. It must be removed before you can delete it.
Will changing my bank account affect processing?
No! Charges, refunds, and disputes will continue to process. Once your change request is approved, your payouts will route to the new bank account.
Will I receive a payout as soon as the change is approved?
Your next payout depends on your payout schedule. This means that if you are on monthly payouts and change your bank account within five days of the end of the month, you may not receive the next month's payout. If possible, we recommend organizations on monthly payout schedules make change requests early or mid-month.