An Account Owner can update direct deposit information in the Admin Menu.
To update direct deposit information you need to go to Organization > Direct Deposit under the Account section of the Admin Menu.
After clicking Direct Deposit, you'll need to click on "start a new application."
From here, you'll just follow the on-screen instructions to update your direct deposit.
Key pieces of info you'll need to fill out the direct deposit form:
-Organization's legal name
-Organization's EIN (tax ID)
-Financial contact's name, email, phone, last 4 digits of SSN, and birthdate (See below for more details)
-Bank account and routing numbers
Once you've submitted your application for direct deposit, we typically issue approvals within an hour or so after. Occasionally, we may find an error in your submission and we will ask you to correct it before your direct deposit will be updated.
Why do you need the Financial contact's birthdate and SSN?
We need to collect this information so our credit card processor can perform an identity check on the financial representative. The representative’s information will not be used for anything besides the identity check.
A date of birth and the last 4 digits of a Social Security Number are required as part of our payment processor's mandatory identity verification requirement: Our payment processor must collect, verify, and maintain information on the individuals associated with every US account, as required by its regulators and financial partners. This is intended to promote transparency and prevent individuals from using complex company structures to hide terrorist financing, money laundering, tax evasion, and other financial crimes.