- Click HERE to start new merchant account applications if your business corporate information has changed. You can also contact us directly for more information or if you have any questions: (877) 343-8950 x 105 or send an email to MerchantAccounts@CashPractice.com.
In order to only update your banking information with the processing bank (for deposits and/or merchant fees) please provide a voided business check with the following criteria:
- your current business name and current address MUST be pre-printed on the check
- it cannot be a starter check
- the check number must also be "100" or higher
The bank letter must have the following criteria (a direct deposit form/deposit slip will NOT work):
- Letter must be on the bank's letterhead
- Letter must be dated within 30 days
- Letter must include YOUR business name
- Letter must include YOUR business address
- Letter must include YOUR FULL routing number and FULL account number
- Letter must state your account is open / active
- Letter must state whether its a checking account or a savings account (savings accounts must allow the ability to debit)
- Letter must have Bank Representative's printed name, title AND signature
- Letter must have bank's direct phone number (not main customer service line)
- YOUR CASH PRACTICE ACCOUNT NUMBER (not sure where to find that? - click HERE)
- State that the check/bank letter is "FOR MERCHANT ACCOUNT BANKING CHANGES"
Banking changes can take 2-5 business days for completion (once we receive the signed forms back from you).
IMPORTANT: For security purposes, once we submit your bank change request, a representative from our processing bank (Paya Workwell) will be calling your office to speak directly with the merchant account owner who will need to verbally authorize the new bank change. Your banking information will not be updated until the merchant account owner has confirmed the request for bank changes.
MEMBERSHIP BILLING: Updating your banking information for your merchant accounts DOES NOT automatically UPDATE your Cash Practice membership billing information. To update your membership billing information, please contact the Billing Department at (877) 343-8950 x 104 or see THIS ARTICLE