How to change my bank account in Stripe?

How to Change Your Bank Account in Stripe: A Comprehensive Tutorial

 

Step 1: Log in to your Stripe Dashboard

 

Begin by logging into your Stripe account through the official website at https://dashboard.stripe.com. Use your registered email and password for authentication. If you have two-factor authentication enabled, complete the verification process as prompted.

 

Step 2: Navigate to the Account Settings

 

Once logged in, locate and click on the "Settings" option in the left sidebar of your Stripe Dashboard. This will expand a submenu with various account configuration options.

 

Step 3: Access the Payments Section

 

In the Settings submenu, find and click on "Payments" or "Payment settings" (the exact wording may vary slightly depending on your region and Stripe interface version).

 

Step 4: Go to Bank Accounts and Scheduling

 

Within the Payments settings page, look for the "Bank accounts and scheduling" option and click on it. This section manages all your connected bank accounts and payout schedules.

 

Step 5: Review Your Current Bank Accounts

 

You'll now see a list of all bank accounts currently linked to your Stripe account. These accounts are where Stripe sends your payouts. Take a moment to review your existing accounts.

 

Step 6: Add a New Bank Account

 

To add a new bank account, click the "+ Add" or "Add bank account" button (typically located near the top-right of the bank accounts section). A form will appear requesting your new bank account details.

 

Step 7: Enter Your New Bank Account Details

 

Fill in the required bank account information. The specific fields will vary by country, but typically include:

• Account holder name (as it appears on your bank records)
• Account number
• Routing number (in the US) or equivalent (SWIFT/BIC, Sort Code, etc. in other countries)
• Account type (checking or savings, if applicable)
• Bank name (sometimes auto-filled based on routing number)
• Account currency

Double-check all information for accuracy before proceeding.

 

Step 8: Save Your New Bank Account

 

After entering all required information, click the "Add bank account" or "Save" button to submit your new bank account details. Stripe may initiate a verification process at this point.

 

Step 9: Verify Your New Bank Account (if required)

 

Depending on your region and bank, Stripe might need to verify your account through:

• Micro-deposits (small test deposits to confirm account ownership)
• Instant verification through a secure bank login
• Document verification

Follow the prompts provided by Stripe to complete any necessary verification steps. This process may take 1-2 business days if micro-deposits are used.

 

Step 10: Set as Default Account (Optional)

 

To make your new bank account the default destination for all payouts:

• Find the newly added account in your bank accounts list
• Click on the three dots (⋮) or gear icon next to it
• Select "Set as default" from the dropdown menu

 

Step 11: Update Payout Schedule (Optional)

 

If you wish to change when funds are transferred to your new bank account:

• In the same "Bank accounts and scheduling" section
• Look for "Payout schedule" or similar wording
• Click "Edit" or the pencil icon
• Choose your preferred payout frequency (daily, weekly, monthly, or manual)
• Save your changes

 

Step 12: Removing the Old Bank Account (Optional but Recommended)

 

After confirming that your new bank account is working properly:

• Locate your old bank account in the list
• Click the three dots (⋮) or gear icon next to it
• Select "Delete" or "Remove"
• Confirm the deletion when prompted

Note: You cannot delete a bank account if it's your only payout method or if there are pending payouts to this account.

 

Step 13: Verify the Changes through API (For Developers)

 

If you're managing your Stripe account programmatically, you can verify the bank account change using the Stripe API:

const stripe = require('stripe')('sk_test_your_secret_key');

// List all external accounts
const listBankAccounts = async () => {
  try {
    const accounts = await stripe.accounts.listExternalAccounts(
      'acct_your_account\_id',
      {object: 'bank\_account'}
    );
    console.log('Your bank accounts:', accounts.data);
  } catch (error) {
    console.error('Error:', error);
  }
};

listBankAccounts();

 

Step 14: Monitor Your First Payout

 

After changing your bank account, carefully monitor the first payout to ensure it reaches your new account successfully. In your Stripe Dashboard:

• Go to the "Payouts" section in the main navigation
• Check the status of pending and recent payouts
• Verify that the destination shows your new bank account

 

Step 15: Contact Stripe Support if Needed

 

If you encounter any issues during this process, Stripe's support team can help:

• Click on the "Help" button in the bottom-left corner of your Dashboard
• Select "Contact support"
• Describe your issue regarding bank account changes
• Provide any relevant details about the problem you're experiencing

 

Additional Notes:

 

• Bank account changes may take 1-2 business days to fully process
• Any pending payouts will still go to the bank account that was set as default when they were initiated
• International bank accounts may require additional verification steps
• Maintain at least one verified bank account connected to your Stripe account at all times
• Regularly check your Stripe Dashboard for any notifications about your bank account status