How to Update or Change Bank Account in Stripe Dashboard
Updating the payout bank account linked to your Stripe account ensures that customer sales revenue continues to deposit smoothly into your active corporate checking account. Whether you are migrating from a digital fintech to a tier-1 physical bank or updating routing credentials, following Stripe's designated dashboard procedures guarantees uninterrupted daily or weekly payouts.
Prerequisites Before Updating Payout Details
Have your new corporate banking details ready before initiating changes inside your Stripe account:
- Account Matching: The new business bank account must be registered under the exact legal name of your US LLC, not a personal individual name.
- Routing and Account Numbers: Confirm whether your bank uses distinct routing numbers for electronic ACH transfers versus domestic wire transfers. Stripe standard payouts require ACH routing numbers.
- Currency Consistency: Ensure the recipient account is denominated in US dollars (USD) to avoid unnecessary foreign exchange conversion fees.
Step-by-Step Instructions in Stripe Dashboard
Follow these steps to replace your existing bank account with new corporate banking details:
- Sign In to Stripe: Log in to your Stripe Dashboard using your administrative credentials and complete two-factor authentication.
- Access Payout Settings: From the top navigation or settings cog, go to Settings > Business settings > Bank accounts and scheduling (or External accounts).
- Add New Bank Account: Click "Add bank account". Enter the ACH routing number and account number of your new corporate bank account.
- Verify Account Ownership: Depending on your banking provider, Stripe will either verify the account instantly through Plaid or issue small micro-deposits over 1 to 2 business days.
- Set as Default and Remove Old Account: Once verified, designate the new bank account as your default payout destination. You can then safely remove the obsolete bank account.
Useful Banking and Formation Resources
Explore our banking guidance for foreign-owned American businesses:
- Find verified banking options with US Business Bank Account Support.
- Need in-person commercial banking? Explore Physical Business Bank Account Concierge.
- Learn about onboarding in how to open a Mercury business account for your LLC.
- Read our comprehensive review of opening a US business bank account online.