About This Article
This article will walk you through how to update a company bank account.
Instructions
To add a new bank account, please click on the Company Tab. Next, select Bank Accounts.
Click on Add Bank Account on the right-hand side
A pop-up will appear requesting the following information. Please provide the requested information and check the yellow box on the left-hand side.
IMPORTANT: Updating the banking information is subject to bank verification, which can take up to three business days to process.
A micro deposit will be sent to your new bank account.
Verify the account
Once you receive the micro deposit, select the 3 action dots located next to the new account. Select verify account and enter the amount of the micro deposit
Select the new bank account as your primary account
Once your micro deposit has been verified on the new bank account, please set the new bank account as your primary account. This step is very important in order to have funds debited from the new bank account.
Knit works as a point-in-time system
Whichever account is marked as primary is the bank account that we will be debiting at the time when your payroll is run.
Delete the old bank account
Once the new bank account has been verified and marked as primary, you can proceed to delete the old account. Select the 3 action dots and select delete.