Payhawk connects to your bank using Plaid. If Plaid doesn’t support your bank or the connection fails, the Payhawk Credit team can manually link your account.
You can connect one bank to Payhawk and manage unlimited bank accounts from the Payhawk Web Portal.
This is how the connection between Payhawk and Plaid looks like when initiated in Payhawk.
This article explains how the manual process works.
Linking bank accounts
Step 1 - Provide required documents
For the manual connection to take place, US companies will be required to provide the following documents first:
Two recent months' bank statements in PDF format, showing account details and transactions.
A screenshot of your online banking portal showing today's balance, your Account Number, and your Routing Number.
Step 2 - Whitelist Originator IDs
To avoid interruptions during the microtransaction process, whitelist both Payhawk’s and your company’s Originator IDs.
Step 3 - Perform microtransactions
After completing the steps above:
A push (deposit) and pull (withdrawal) microtransaction will be done to validate the connection between Payhawk and your bank. If your credit availability is low, top up your funds before proceeding.
Take screenshots of these transactions and share them with Payhawk for confirmation.
Once verified, your bank account will be successfully connected.
Unlinking bank accounts
Payhawk connects to one bank at a time, and that connection powers your top-ups, credit repayments, and reimbursement payments. For this reason, US bank accounts have no Unlink button in the portal. Instead, contact the Payhawk Support team to disconnect the current bank, or replace it by linking a new one.
To replace the bank account currently linked to Payhawk:
Contact the Payhawk Support team and ask for the current bank connection to be disconnected. If the connection has expired, the reconnect banner is already in your Funds app.
In the Payhawk Web Portal, go to Funds and click on the Link your bank account button.
Connect the new bank through Plaid. This permanently replaces the old connection.
Select the linked account, open the Settings tab, and check that the correct default account is set for transfers.
If the new bank account has a different account number or routing number, go through verification again, whitelist both Originator IDs, and confirm the new microtransactions.
Bank transfers are paused from the moment the old bank is disconnected until the new one is verified. For this reason, avoid switching banks close to a credit repayment due date.
Notes on unlinking bank accounts
Verification of a different bank account takes a few business days.
Adding funds from a linked account is available again as soon as the new bank is connected.
Automatic credit repayments need a linked account, so arrange the timing with the Payhawk Support team if a repayment falls due.
Reimbursements and bill payments already scheduled from the old account might need to be set up again.
Reconnecting the same bank account, with the same account number and routing number, needs no new verification.