Problem Statement
- Users cannot edit or replace an existing verified bank account for payouts
- To change bank account or routing number, users must add a new account and go through full verification again
- This requires re-entering all company details (business info, EIN, SSN, roles, etc.) even though the company has already been verified
Current Workaround
- Add a new bank account and complete the entire verification process again
- Switch properties to the new account
- Remove the old account once it's no longer assigned
Impact
- Unnecessary time and effort re-entering sensitive company information
- Friction when simply updating banking details (e.g., new bank, new routing number)
- Potential for errors when re-entering verification details
Proposed Solution
- Allow users to update their existing bank account and routing number directly
- Skip re-verification of company details if the account is already verified
Unlock
- Users can quickly update banking details without redundant verification steps
- Reduced friction and time when changing payout accounts