CRB Client Bank Account Change Process
Due to the Federal AML/FinCEN know your client due diligence requirements, any change in the client’s payroll bank account needs to be approved by our banking partner, North Bay Credit Union (NBCU). Below you will find a step-by-step breakdown of how to go about obtaining new bank account approval for your CRB client. It is imperative we follow this process as it will help avoid disruption in payroll funding for the client, prevent our company from receiving returned ACH charges, and keeps our company compliant.
- CSR will create ticket in team support and assign ticket to CRB Compliance and Product Specialist. Ticket should state their client is switching bank accounts for payroll.
- CRB Compliance and Product Specialist will contact client directly to inquire details of the bank account change and to determine the appropriate documentation to collect for NBCU approval
- Once documents are received, CRB Compliance and Product Specialist will email the merchant processing team at NBCU; informing them our client will be using a different bank account for payroll going forward. The client provided documents will be attached to the email.
- NBCU will confirm new bank account and approve merchant processing. *In rare instances, NBCU may request additional information before approval. CRB Compliance and Product Specialist will contact client directly to obtain the additional information
- Once NBCU approval is received, CRB Compliance and Product Specialist will assign ticket back to the client’s CSR to inform them the client is approved to use the new bank account. The CSR will complete the usual client bank account change process.