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All CollectionsFrequently Asked Questions (FAQs)Adding, Deleting and Managing Bank Accounts
How can I add a bank account to make payments to my suppliers?
How can I add a bank account to make payments to my suppliers?
RBC PayEdge avatar
Written by RBC PayEdge
Updated over a week ago

Adding at least one bank account is a mandatory requirement to complete WayPay account set up. Click the settings gear icon and follow Manage Accounts to add more bank accounts or delete and manage bank accounts.

1. Add Bank Account

You can add a Canadian bank account (CAD/USD) by following these steps

  • Upload a void cheque 

  • Enter 3-digit Institution Number and the select your bank from the list displayed on screen

  • Enter 5-digit Transit Number and confirm the branch address displayed on screen. 

  • Select the currency of your bank account – CAD or USD only

  • Account Nickname will help you to distinguish between multiple bank accounts added on WayPay

  • If WayPay is able to identify the branch based on the Transit Number that you provide, WayPay will automatically fill up the Branch Address field

  • Account Manager and Contact Details are optional

  • Accept the PAD agreement

  • Name and signature of signing authority

Alternatively, you can also add a bank account from the dashboard under Your Accounts >> Add a Bank.

Note: Would recommend providing correct and maximum information (though optional) as it will help WayPay to verify your bank account sooner and you will be able to use the bank account to make payment to suppliers.

2. Delete Bank Account

If you are no longer going to use a bank account added on WayPay to pay suppliers, you can delete a bank by selecting the bank and click the bin icon which says ‘Delete selected rows’. Please note that you will not be able to delete a bank account which is attached to an active payment order under progress.

3. Manage Bank Accounts

You can choose to hide the bank account on the dashboard or mark a bank account as a preferred payment instrument for all payments. Even though an account is marked preferred, you can select another account while making payment. You will not be able to edit bank account details which has already been verified, however, you can update the Account Nickname.

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