To change your account details, you must have access to the email used to register for Lightspeed Payments. If you have multiple sites, update the details for each site separately. 

Changing your account details will place a temporary hold on payouts while your request is being reviewed. You may experience a payout delay of several days during this process.

What's in this guide?

Updating your bank account details
Updating your business information
Taking over an existing site

Updating your bank account details

This updates the bank account where Lightspeed Payments deposits your payout. If you have multiple locations, you must change the bank account details for each site. To change the bank account for subscription charges, refer to our article on managing billing payment information.  

To update your bank account details:

1. Log in to Back Office with your Lightspeed credentials. 
2. From the navigation menu, select Financial Services > Settings. 
3. Under the Bank account section, click Change.
4. A pop-up window will appear to confirm the reason for the bank account change. Select the reason for the bank account change.
5. Click Next. 
   
6. Confirm which email address you’d like your access code sent to. If only one email is on file, you will not see a choice here.
7. Click Send code. 
   
8. Check your email for an access code.
9. Enter the access code in the wizard to continue.
10. Click Add a bank account to add a new bank account.
11. If you bank with an integrated banking partner, select their logo.
12. (Optional) If your bank is not listed on the list or you have issues with bank authentication, you can manually add your bank by clicking the here button at the bottom.
13. Click Submit.

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.

Success: Automatically updated

No further action is required.

Success: Review required

Our team will be reviewing your submission and may be in touch if additional information is required.

Error: Something went wrong

Reach out to our Support team for assistance in resolving this issue.

Updating your business information

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

To update your business information:

1. Log in to Back Office with your Lightspeed credentials.
2. From the navigation menu, select Financial Services > Settings.
3. Under the Business Details section, click Change.
   
   
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.
5. Select Next. 
   
6. Select Continue.
7. Confirm which email address you’d like your access code sent to. If only one email is on file, you will not see a choice here.
8. Click Send code. 
9. Check your email for the access code.
10. Enter the access code in the wizard to continue.
11. Fill out your contact details to get started with the application.
12.  Click Continue to progress to each page.
13. If you have multiple locations, select which locations this change will apply to.
14. Select Save and Continue.
15. Review your application to ensure all information is correct.
16. Click Submit.

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

Receiving email updates

You will receive an email notification confirming this change. 

If you have received an email notification advising you that your bank account details have been changed and you were not expecting it, reach out to our Support team immediately.

Taking over an existing Lightspeed site

If you have recently taken over an existing Lightspeed business, you will need to request permission from the previous site owner. This is a security requirement that limits the risk of fraud.

When you navigate to Financial Services > Settings, you will see this screen. Click Request access. 

Select the email of the previous owner to send an access code to. 

The former site owner will receive an access code by email, which they should provide to you to proceed with a new application. 

Need further assistance?

If you are having trouble submitting this change, reach out with our payments support team at payments.documents.hospitality@lightspeedhq.com and we'll help you out!