If you need to update the bank account linked to your addy profile, this article explains what you need to know, what documents are required, and how long the process takes. These steps help us keep your account secure.
When You Can Update Your Bank Account
You can request a change if your banking details have changed (such as switching financial institutions or receiving a new account number). The name on your new bank account must match the name on your verified addy profile. Joint or third-party accounts can’t be used.
How to Submit a Request
All bank account change requests must be made in writing.
You can contact us at support@addyinvest.com or through any secure submission portal we provide.
Your request must include:
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Your full name (matching both your addy profile and your bank account)
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The last four digits of the bank account currently on file
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Your new banking details (institution number, transit number, account number)
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A void cheque or an official direct deposit form showing your name and new account information
How We Verify the Change
To keep your account safe, addy performs several checks before updating your banking information:
1. Name verification
The name on your bank account must be the same as the name verified on your addy account.
2. Confirmation call
We’ll call the phone number already on your addy profile to confirm:
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That you made the request
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That the details provided are correct
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That you authorize the change
3. Additional verification (if needed)
If any information doesn’t match or there are risk indicators, we may request additional documents before approving the update.
48-Hour Cooling-Off Period
Once an updated bank account is approved, withdrawals to that account will be paused for 48 hours.
This waiting period helps prevent fraud and unauthorized transfers. After 48 hours—and after verification is complete—withdrawals can resume.
Withdrawal Rules
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Withdrawals can only be sent to the most recently verified bank account on file.
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Withdrawals cannot be sent to any bank account that hasn’t fully completed the verification process.
Exceptions
For security reasons, we cannot bypass verification steps or the 48-hour cooling-off period.
Any exceptional cases must be approved by addy’s compliance team.
If you have questions or need to update your banking details, feel free to reach out to us at support@addyinvest.com — we’re here to help!