Users would need the Contributions Settings permission to complete this task.
To update the deposit bank account, go to Contributions > Settings > Merchants from the left-hand menu and click on the Change Deposit Bank Account button in the Account Listing section. The MID of the account needing the deposit info change will be required (MID stands for merchant identification number).
A merchant account is an account that facilitates accepting money from online processing. It is a special kind of bank account used to facilitate the transfer of money that occurs during payment processing.
Simply put, your merchant account operates separately from your bank account. As payments process, the funds are held in the merchant account and then deposited into your bank account once they settle.
Note: The key point is about how to make the change, not when. You can go ahead and update your deposit (bank account) information, and once that is approved, you should allow roughly one to two weeks to start seeing deposits arrive in the new bank account.
Most important, there is no risk of losing any payments. Funds that are already in processing will still be deposited. We recommend updating your deposit information, confirming the new account is approved, and waiting until you see a deposit land in the new account before closing the old one.
Enrolling in a new account with One Church Giving creates a new merchant account. This account allows the church to process payments from others, including credit/debit and ACH transactions.
That page redirects to a form for the merchant provider Usio. After completing the Usio DDA Change Form and submitting the requested documentation, further instructions will be provided.