To move an existing bank account to a different business entity, follow the steps below:
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Add the bank account again under the new business entity, specifically using the Microdeposit Verification option. Please note, if you attempt to add it via Instant Verification, you will receive an error that the bank account has already been added in the system.
When inputting the banking details, add an additional “0” to the beginning of the account number. When you do this, the system will not recognize it as an existing bank account, although it will still identify it correctly (which you’ll confirm upon receiving the microdeposits).
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After you’ve received the microdeposits and have verified the bank account under the new entity, you’ll update your banking assignments from the Properties page following the instructions here.
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Lastly, you’ll revisit your Settings page to delete the “old” bank account that was added to the incorrect business entity.