Hi. How can we help?

Editing your account details with Lightspeed Payments

You can edit your bank account information and business details from the Financial Services tab of your Lightspeed account.

Updating your bank account details

This process changes the bank account where you receive payouts (deposits) from Lightspeed Payments. If you have multiple locations using Lightspeed Payments, you must change the bank account details for each site.

Changing your bank details will cause a temporary hold on your daily deposits while your request is reviewed. Payout delays may take up to five business days while this change is processed.

In order to change the bank account details, you must have access to the email address used to originally apply for Lightspeed Payments.

  1. Login to Lightspeed Retail with your admin account.
  2. Navigate to Financial Services > Settings.
  3. In the Bank account section, click Change.
    Image displays the Settings tab within Financial Services. The section titled Bank Account has been highlighted.
  4. A pop-up window will appear to confirm the reason for the bank account change.
    Image displays a pop-up window asking for the reason for the bank account change.
  5. You will need to verify your identity before proceeding. Confirm which email address you’d like your access code sent to.
    Image displays a pop-up window requesting which email address the confirmation code should be sent to.
  6. Check your email for the access code.
    Image displays an example email with access code.
  7. Enter the access code in the wizard to continue.
    Image displays a blank field to input the access code.
  8. Click Add a bank account to add a new bank account.
    Image displays a pop-up window with the button titled 'Add a bank account' visible.
  9. If you bank with an integrated banking partner, select their logo. Alternatively, choose the option to manually add your account.
    Image displays a list of supported banks. The option to add a bank manually is also visible.
  10. Once you have verified your information, click Submit.
    Image displays a pop-up window with the button titled 'Submit' visible.

Your application will be reviewed automatically and will be updated with the status of your request in the Financial Services tab.

Viewing the status of your request

Your application to update your bank account will be automatically reviewed and given one of three statuses. Here is an explanation of every status and the next steps they require.

  • Your request was successfully submitted and completed. Your next payout will be deposited into the new bank account.

    Image reads 'Your payout bank account has been updated!' with a green checkmark visible.

  • Your request was successfully submitted but may require additional validation by our payments team. The payments team will review your request and may be in touch if more information is required.

    Image reads 'Your request has been submitted for review' with an orange clock face visible.

  • There was an error while attempting to complete your request. Please reach out to payments.documents.retail@lightspeedhq.com for assistance.

    Image reads 'Something went wrong' with a red error symbol visible.

Updating your business information

In the event of ownership or legal entity changes, navigate to the Financial Services tab of your Lightspeed account to add a new legal entity.

Changing the legal entity tied to your account will cause a temporary hold on your daily deposits while your request is reviewed. Payout delays will take up to five business days while this change is processed. Once approved, payouts will be deposited to the new bank account on file.

Image displays the Settings tab within Financial Services. The section titled 'Business Details' has been highlighted.

  1. Log in to Lightspeed Retail with your admin account.
  2. Navigate to Financial Services > Settings.
  3. In the Business Details section, click Change.
    Image displays the Settings tab within Financial Services. The button titled 'Change' has been highlighted.
  4. A pop-up window will appear to confirm the reason for the change. Select Change of business ownership or business structure or Other reason.
    Image displays a pop-up window asking for the reason for the change.
  5. Click Next.
  6. Select Continue.
    Image displays a pop-up window that confirms the change in business ownership or business structure.
  7. You will need to verify your identity before proceeding. Confirm which email address you’d like your access code sent to.
  8. Check your email for the access code.
  9. Enter the access code in the wizard to continue.
    Image displays a blank field to input the access code.
  10. Fill out your contact details to get started with the application wizard. 
  11. Complete the application wizard by filling out all required fields, clicking Continue to progress to each page.
    Image displays the application wizard for Lightspeed Payments.
  12. If you have multiple locations, select which locations this change will apply to.
  13. Click Save and Continue.
    Image displays the application wizard for Lightspeed Payments. Here you can select which business locations this change will apply to.
  14. Review your application to ensure all information is correct.
  15. Click Submit.

Your application will be reviewed by our underwriting team. You can view the status of your application in the Financial Services tab of your Lightspeed account.

Image reads 'Your request has been submitted for review.'

Was this article helpful?

0 out of 0 found this helpful