Update Bank Account

Both basic and administrator users can view their own user details and process banking requests. However, administrator users can create and/or edit external users under their own organization. You can also review user account settings to check if you have the ability to process banking requests. Follow the instructions below to begin the add bank account process. 

Here is a helpful video to quickly get you started.

Find Merchant Account

1. From the Merchant Direct main menu, under the Self Serve section, click on Account Management.

• The Account Management screen appears. 

2. Locate the account you wish to edit:

• Click inside the Search field at the top of the screen and search by store name or Merchant ID. 

• Use the vertical scroll bar on the right side to scroll up and down the list of accounts. 

1. Once you locate the account you wish to edit, click on the update icon () in the Update column. You cannot update a greyed out icon. The Manage Account Information screen appears.  

1. Scroll down to the Bank account section and click the Edit button. The Request for bank account screen will appear.

Note:     The Bank account section will not display if you are not eligible for self-serve banking.

Request Bank Account

This is where you will be asked a series of questions related to your bank account request. There are five sections to complete the banking process, which you will see across the top of the screen. The sections will need to be completed in order as they appear.

• Bank account request questions
• Existing bank account info
• New bank account info
• Bank account update details
• Confirm update details

Bank account request questions

This first section requires you to answer all four statements.

1. Click the Yes or No buttons for each statement:

• My ownership is changing: Change in the shareholder, partners or other owners of the business

Note:     When you click No, on this statement, the next statement will automatically change to No.

• Ownership changing more than 50%: e.g. Your ownership of the company is changed more than 50%

Note:     The choice of Yes or No will only be available if  the statement above is Yes.

• Change in Entity: e.g. Sole Proprietor to a partnership
• Legal name of my business is changing: e.g. Changing legal name from 222 Ont Inc. to 999 Ont Inc.

1. Click the Continue button to move to the next section.
2. Click the Cancel button. The Cancel banking request popup appears.

Existing bank account info

This second section requires you to fill out information about your existing bank account.

Note:     Only numeric values are accepted in all the fields. Use the example text and cheque provided for your reference.

1. Click in the Transit number field. Enter the 5 digit transit number. 

Note:     An error message will appear for incorrect number:  "Enter a valid 5 digits Transit number".

1. Click in the Financial institution field. Enter the 3 digit financial institution number. 

Note:     An error message will appear for incorrect number:  "Enter a valid 3 digits financial institution".

1. Click in the Bank account number field. Enter the 7 to 12 digit bank account number. 

Note:     An error message will appear for any spaces or hyphens:  "Enter a valid account number".

1. Click the Continue button to move to the next section.
2. Click the Cancel button. The Cancel banking request popup appears.

New bank account info

This third section requires you to fill information about your new bank account and to refill the same information to confirm the new bank account.

Note:     You cannot use the copy and paste function to enter the information.

Note:     Only numeric values are accepted in all the fields. Use the example text and cheque provided for your reference.

1. In the What is your new bank account? section:

• Click in the Transit number field. Enter the 5 digit transit number. 

Note:     An error message will appear for incorrect number:  "Enter a valid 5 digits Transit number".

• Click in the Financial institution field. Enter the 3 digit financial institution number. 

Note:     An error message will appear for incorrect number:  "Enter a valid 3 digits financial institution".

• Click in the Bank account number field. Enter the 7 to 12 digit bank account number. 

Note:     An error message will appear for any spaces or hyphens:  "Enter a valid account number".

1. In the Confirm your new bank account section:

• Click in the Transit number field. Enter the 5 digit transit number. 

Note:     An error message will appear for incorrect number:  "Enter a valid 5 digits Transit number".

• Click in the Financial institution field. Enter the 3 digit financial institution number. 

Note:     An error message will appear for incorrect number:  "Enter a valid 3 digits financial institution".

• Click in the Bank account number field. Enter the 7 to 12 digit bank account number. 

Note:     An error message will appear for any spaces or hyphens:  "Enter a valid account number".

Note:    The information from both sections in this screen will need to match to continue.

1. Click the Continue button to move to the next section.
2. Click the Cancel button. The Cancel banking request popup appears.

Bank account update details

This forth section requires you to update your new bank account details.

1. Click and choose on one from the following:

• All Accounts
• Fees Only
• Deposit Only

1. Click on the populated date to open the calendar in the Update bank account on: field. The calendar popup appears.

Note:     Tomorrows date is automatically populated in the field.

1. Select a date:

• Click on the left or right arrow to move between months.
• Click on the month that appears to open the scroll bar and select a month.
• Click on the year that appears to open the scroll bar and select a year.
• Click on the date you wish to have your account updated.

Note:     You can select a date between tomorrow and within 90 days of this banking request. If you try to select a date out of this range, you will not be permitted.

Note:     The calendar popup will close when you have selected your date, but you can click on it again to make changes.

1. Click the Continue button to move to the next section.
2. Click the Cancel button. The Cancel banking request popup appears.

Confirm update details

This fifth section requires you to confirm and authorize Moneris to change your bank account and accept the terms of use.

1. Carefully read this confirmation message. 
2. Click on small box on the left side of Accept the Terms Of Use to place a checkmark.

1. Click the Continue button to move to the next section. The Manage Account Information screen with the Bank bank account section appears.
2. Click the Cancel button. The Cancel banking request popup appears.

Cancel banking request

You can choose to cancel the banking request at any time.

1. Choose one of the following:

• No, go back button to return and continue on the screen you were on.
• Cancel banking request button to exit out of the request and return to the Manage Account Information screen with the Bank account section only.

1. Click the Edit button or the Go back button.

Not eligible to update

When the icon () is greyed out, this means the account you are trying to select to is not eligible to update and you will need to contact your administrator.

Unable to continue

There may be times where you may not be able to proceed further, the message "Based on your response it appears this is a new business ownership. Please contact our Sales Centre for assistance at 1-855-463-5669." will appear.

1. Click the Edit button to return to Bank account request section.
2. Click the Go back button to exit out of the request and return to the Manage Account Information screen.