Bank Account Changes and Actions to Take

What Happens When Your Bank Account Changes?

(And What Startups Need to Do Immediately)

When your company’s bank account changes – whether due to internal decisions or external events – there are critical steps you need to take to avoid disruption.

Startups often rely on dozens of connected platforms for payments, subscriptions, and payroll. A bank change means all of those connections need to be reviewed and updated. Let’s walk through what you should know and what actions to take.

Why Bank Account Changes Happen

Banks, PSPs, and financial platforms may occasionally change their underlying banking partners or account structures. This can be triggered by:

• Bank partner changes
• Updates to account numbering systems
• Regulatory changes around IBAN, ABA, or Routing Number structures

Example: In early 2025, Mercury Bank, widely used by startup, ended its partnership with Evolve Bank & Trust and moved customers to a new bank partner. This change required affected users to update their bank details across all platforms.

How to Know If You’re Affected

Typically, your bank will notify you through one or more of the following:

• Email
• SMS or app notifications
• Physical mail

Always keep your contact information up to date with your financial providers to ensure you receive these alerts.

For example, in Mercury’s March 2025 transition:

 1. Customers received an official notice from Mercury.

 2. You can also check yourself:

• Log into your Mercury account
• Go to the Accounts tab
• Select a checking account and review the routing number
• If it’s 084106768 (Evolve Bank), you’re likely impacted

What Will Likely Change

If you’re affected, you’ll probably receive entirely new account details, including:

• New Bank Name & Address
• New Routing Number or SWIFT Code
• New Account Number / IBAN
• Updated virtual and physical debit card details
• Linked credit card or charge card info

Your bank should provide a clear breakdown of what’s changing. Follow their instructions closely.

What You Should Do (ASAP)

✅ 1. Update Your Incoming Payments (Collections)

This is mission-critical: make sure you’re still getting paid.

 Update your bank details in platforms like:

•  Stripe, PayPal, Braintree, Paddle, Chargebee
• App Stores (Apple, Google)
• Marketplaces (Shopify, Etsy, Amazon, etc.)
• Invoicing tools – Update bank info on all active invoice templates
• Payment processors like Payoneer, Deel, Bill.com

Just walk through your customer payment flow and update wherever money comes in.

✅ 2. Update Your Outgoing Payments (Expenses)

Your vendors, subscriptions, and payroll systems likely pull funds from your old bank or card.

 Review and update:

•  Payroll & HR systems (Rippling, Gusto, ADP, Deel, Remote)
• Cloud services (AWS, Google Cloud, Notion, Slack, etc.)
• Software subscriptions
• Contractors or freelancers paid by ACH, Wire, or check

Vendors will definitely let you know if a payment fails – but critical services could pause or be disrupted. Best to be proactive.

Use this as an opportunity to audit and reduce: cancel unused tools or downgrade subscriptions while you’re updating info.

✅ 3. Reorder Checks or Update Checkbook Info

If you use checks, request a new checkbook with the updated bank details. Avoid bounced payments or delayed deliveries.

Final Thoughts

Bank transitions are a hassle, but they’re also a chance to clean up your financial stack. Use the moment to:

• Reassess recurring costs
• Eliminate unused tools
• Ensure your financial systems are streamlined and up to date

If you’re unsure whether your startup is affected by a bank change (like the one from Mercury), reach out to your provider – or your accountant – to confirm and get support. And if you need any support, we’re here to help.