You can change your bank account in Stripe's dashboard at any time, but the process depends on whether you're replacing an existing account or adding a new one
Log into your Stripe account, go to Settings, then select Banking Information or Connected Accounts (the exact label varies by account type). From there you can either update your current bank details or add a second account. Stripe does not require you to remove the old account before adding a new one, though you can do so if you prefer. The change takes effect when ready for future payouts, but any payouts already scheduled will still go to the previous account.
The time it takes for your first payout to the new account depends on your payout schedule. If you're on daily payouts and you update your account on a business day before the cutoff time (usually 2 p.m. Pacific), the next payout may go to the new account within 24 hours. If you update after the cutoff or on a weekend, you'll wait until the next business day. Weekly or monthly schedules follow the same logic—the change applies to the next scheduled payout, not retroactively to previous ones.
Key Takeaways
- You update your bank account through Settings > Banking Information in your Stripe dashboard, and the change takes effect for the next payout cycle.
- Payouts already scheduled before you make the change will still go to your old account; only future payouts use the new details.
- Stripe verifies new bank accounts by sending two small test deposits, which you must confirm in your dashboard before the account becomes active.
- If you're changing accounts because of a closed bank or fraud, contact Stripe support directly rather than updating through the dashboard, so they can flag the account and speed up verification.
The verification process for a new bank account
When you add a new bank account to Stripe, the system does not when ready start sending payouts to it. Instead, Stripe sends two small deposits (usually between $0.01 and $0.99 each) to the account within 1 to 2 business days. You need to log back into your Stripe dashboard, go to the Banking Information section, and confirm the exact amounts of those deposits. This step proves you have access to the account and own it.
Until you confirm those amounts, the new account sits in a pending state and Stripe continues paying out to your previous account. Once you confirm, the account becomes active and may be able to access for payouts. The whole process—from adding the account to confirming the test deposits—usually takes 2 to 3 business days. If you don't confirm within 30 days, Stripe removes the pending account and you'll need to add it again.
What happens to scheduled payouts when you switch accounts
Stripe processes payouts on a schedule you set: daily, weekly, or monthly. If you change your bank account on Tuesday and your next payout is scheduled for Wednesday, that Wednesday payout will go to your old account. The new account receives payouts starting with the payout after that. There's no way to redirect a payout that's already in the queue, so if you need funds urgently in the new account, you may need to contact Stripe support to ask about manual payouts—though this is not may provide.
If you're switching accounts because your old one is closing or compromised, tell Stripe support as soon as you know. They can sometimes expedite the verification of your new account or manually process a payout to get you funds faster. Waiting for the normal schedule in a genuine emergency can cost you, so it's worth the phone call.
Removing an old bank account from your Stripe account
You don't have to remove your previous bank account once you've added a new one. Many businesses keep multiple accounts linked to Stripe so they can switch between them without going through verification again. However, if you want to delete an old account—because it's closed, compromised, or you straightforward want to clean up your dashboard—you can do so from the Banking Information section. Click the account, then select Delete or Remove.
Stripe will not let you delete an account that has a payout scheduled to it. If you try to delete and see an error, check your payout schedule and wait until that payout completes. Once it does, the account becomes deletable. Deleting an account does not affect payouts that already went to it; those transactions remain in your history.
Changing your account if your bank closed or was compromised
If your bank account was closed, frozen, or flagged for fraud, contact Stripe support directly instead of updating through the dashboard. Explain what happened and provide your new account details. Stripe's support team can flag the old account in their system, which helps prevent future issues and may speed up verification of your replacement account. They may also ask for documentation—a letter from your bank, a police report if fraud was involved, or proof that the account is now closed.
In cases of genuine fraud or account closure, Stripe sometimes waives the standard 1 to 2 business day wait for test deposits or allows you to confirm them faster. This is not automatic, but it's worth mentioning your situation when you contact them. Have your new bank account number, routing number, and account holder name ready before you call or email.
Common reasons payouts don't go to your new account
The most common reason is that you haven't confirmed the test deposits yet. If you added a new account but haven't seen the two small deposits from Stripe, wait 1 to 2 business days. If you see them but haven't confirmed the amounts in your dashboard, the account is still pending and won't receive payouts. Log in, go to Banking Information, and complete the verification step.
A second reason is timing. If you added the account after your payout cutoff time or on a weekend, the change won't take effect until the next business day. Check your payout schedule in Settings to see when the next payout is due. The new account will receive that payout, not the one before it.
A third reason is that your new account information was entered incorrectly. If you mistyped the account number or routing number, Stripe may reject the account during verification or the payout may fail and bounce back. If a payout fails, Stripe sends you an email and holds the funds. You can then correct the account details and request a retry.
Frequently Asked Questions
How long does it take for a payout to go to my new bank account?
Once your new account is verified and a payout is scheduled to it, the payout itself takes 1 to 2 business days to appear in your bank account. Stripe sends the money when ready, but your bank processes it on their timeline. Weekends and holidays can add time.
Can I have two bank accounts receiving payouts at the same time?
No. Stripe sends all payouts to one account at a time. You can link multiple accounts to your Stripe dashboard, but only one is active for payouts. To switch which account receives payouts, you update your Banking Information and the change takes effect on the next payout cycle.
What if I entered the wrong bank account number?
If you haven't confirmed the test deposits yet, you can delete the pending account and add the correct one. If you already confirmed it and a payout was sent to the wrong account, contact your bank to see if they can reverse it. Then contact Stripe support with the details so they can help you recover the funds and correct your account information.
Do I need to update my bank account if I'm just changing banks but keeping the same account number?
If your account number and routing number stay the same, you don't need to update Stripe. Some banks change routing numbers during a merger or restructuring, so check with your new bank to confirm. If either number changed, update Stripe to avoid failed payouts.
Can Stripe hold my payout if I change my bank account?
Stripe does not hold payouts because you changed your account. However, if a payout fails because the account information is wrong or the account is closed, Stripe holds the funds and sends you an email. You then have a window to correct the account details and request a retry before Stripe returns the money to your Stripe balance.