Editing your account details with Lightspeed Payments

After setting up Lightspeed Payments in your online store, you can edit your bank account information on the Finance page in your store admin.

You can change your bank account where your funds are deposited with Lightspeed Payments. For example, if you applied for Lightspeed Payments with your personal bank account, and now want to switch payouts to the business account. 

You can also update your business information if the ownership or legal entity of your business changes.

Updating your bank account details for Lightspeed Payments

Changing your bank details will cause a temporary hold on your daily deposits with Lightspeed Payments. Payout delays may take up to five business days while this change is processed.

Each change that you make to your account requires security authentication from you to verify your identity and protect your account.

To change your bank account details for Lightspeed Payments withdrawal:

1. From your store admin, go to the Finance tab.

2. Navigate to Financial Services → Settings → Account details:

   

3. Near the Bank account section, click Change.
4. Select the reason for the bank account change and click Next.
5. To keep your account secured, you will need to verify your identity via email. Confirm which email address you’d like your access code sent to and click Send code.
6. Check your email and enter the access code in the wizard to continue.
7. Click Add a bank account to add a new bank account. 

8. Select the bank logo. If your bank is not presented among the integrated partners, click here to add it manually:

   

9. Once you have verified your information, click Submit.

Your application will be reviewed automatically. You will receive an email when it's done. You can check the status of your request on your Finance page. There, you may see one of the three statuses:

• Your payout bank account has been updated. Your request was successfully submitted and completed. Your next payout will be deposited into the new bank account.
• Your request has been submitted for review. Your request was successfully submitted but may require additional validation by our payments team. The payments team will review your request and may be in touch if more information is required.
• Something went wrong. There was an error while attempting to complete your request. Please reach out to payments.documents.retail@lightspeedhq.com for assistance.

Once your bank account details are updated, all transactions from Lightspeed Payments will be transferred to a new bank account.

Updating your business information for Lightspeed Payments

In case the ownership or legal entity of your business changes, you need to update this info for Lightspeed Payments.

1. From your store admin, go to the Finance tab.
2. Navigate to Financial Services → Settings.
3. Near the Business details section, click Change.
4. In the pop-up window, select Change of business ownership or business structure or Other reason.
5. Click Next, then Continue.
6. You will need to verify your identity before proceeding. Confirm which email address you’d like your access code sent to.
7. Check your email for the access code.
8. Enter the access code in the wizard to continue.
9. Fill out your contact details to get started with the application wizard. 
10. Complete the application wizard by filling out all required fields and click Continue to progress to each page.
11. Click Save and Continue.
12. Review your application to ensure all information is correct and click Submit.

Your application will be reviewed by the underwriting team. You can view the status of your application on the Finance page.