Change the bank details of an existing account
This article explains how to change the bank details of an existing Zenoti Payments account. You’ll learn how to update your payout bank information, submit the required documents, and understand the verification process that follows a bank change request.
Overview
When you update your payout bank details in Zenoti Payments, the system triggers a mandatory KYC verification to confirm your new account. During this short verification period - typically up to two business days - payouts are temporarily paused, but you can continue to accept guest payments. Once verification is complete, your new bank account becomes active for payouts.
Zenoti Payments allows you to change the bank information for an existing account and update it with new bank information.
Notice
Changing bank account information will trigger KYC verification. If the KYC verification fails, you will see the details of the failed KYC verification here.
It may take up to two business days for your new account to be verified and made live. You will not receive any payouts during the verification period. However, you can still continue to accept payments from your guests.
At the organization or center level, click the Configuration icon.
Select Payments.
On the Payments page, click Payment processor onboarding under Process payments.
Select Zenoti payments as the Payment Processor.
Select the Business for which you want to update the Bank account details.
Click 3-dots under Actions and select View business details.
Click Sign in, and enter the verification code sent to your Zenoti Payments email address.
Select Bank accounts on the left hand panel.
Select the Bank account and click 3-dots under Actions and click Edit.
Edit the required fields and click Save.
Note
You can edit payout bank details at any time.
Users can edit bank details using both Manual and Automatic methods.
Bank account country: Must match the country of the registered business entity.
Account holder name: Pre-filled with the company name, as payouts can only be made to accounts belonging to the merchant account’s legal entity.
Provide your bank account details, such as the account number and ACH routing number.
Supporting document (upload required): This can be a cancelled cheque, bank statement, or a deposit slip.
If your business has multiple bank accounts, you can add all of them here. These accounts can later be linked to specific centers to manage payouts accordingly.
After updating bank details using Manual and Automatic method, you are redirected to the Billing Account page to accept the terms and conditions again. If the bank account is added through Instant Bank Verification, the bank name appears as read-only.
Key terms
Term | Description |
KYC Verification | A mandatory compliance process triggered when bank details are changed to confirm the new payout account. |
Verification Period | The time (typically up to two business days) during which payouts are paused while the new bank account is being verified. |
Payouts | Funds transferred to your registered bank account from guest payments. |
ACH Routing Number | A bank routing number required along with the account number to process payouts. |
Supporting Document | A required document, such as a cancelled cheque, bank statement, or deposit slip, used to verify bank account details. |
Instant Bank Verification | A method of adding a bank account where the bank name appears as read-only after verification. |
Merchant Account’s Legal Entity | The registered business entity to which payouts must be made. |