Bank Account FAQs

This article details how to update a seller's bank account using the Finix dashbaord.

Our dashboard provides a hassle-free solution for adding new bank accounts or making corrections to existing ones.

Finix dashboard

1. Log into the Finix dashboard.
2. Enter the seller's Merchant ID in the ID Search field (The Merchant ID begins with MUxxxxxxx…).
3. Click the magnifying glass or hit Enter.
4. On the seller's Merchant account, click on Payout Settings.
5. Click Edit in the top right.
6. Scroll down to Payout Preference.
7. Under Bank Account click the dropdown arrow > Add new bank account.

• Populate all fields with an asterisk *.
• Change the Account Type, if necessary.
• Click Submit

The updated account will undergo a verification process.

If a brand new bank account is being added, an official bank letter may be requested to validate the account.

Bank letter

A bank letter is an official document from the seller's bank that provides important information about their business’ official bank account.

The document must be on their bank's letterhead and include the following:

• Seller's business name
• Account number
• Routing number
• Signed or stamped by the bank

Uploading bank letter

If a bank letter is being requested, it must be uploaded using the dashboard. Additionally, a verification request must also be submitted.

To upload a bank letter:

2. Login to the Finix dashboard.
3. Enter the seller's Merchant ID in the ID Search field (MUxxxxxxx…).
4. Go to Files > Upload Files.
5. Follow the on-screen steps to upload a file.

Once you've uploaded the bank letter, you'll need to submit a verification request:

3. Click the Account Info tab on the menu bar.
4. Scroll down to Verification Details.
5. Click on Create Verification.

Finix's underwriting team will review the details submitted and make the necessary updates if the details provided are approved.