One of the first steps in setting up a merchant account is providing proof of your business bank account. This typically requires either a bank letter or a voided check. Here is everything you need to know about both options to make the process as smooth as possible.
What Is a Bank Letter?
A bank letter is an official document from your bank that verifies your business banking relationship. To be accepted for merchant account approval, a bank letter should include:
- Bank letterhead: The letter must be on official bank stationery
- Account number: Your business checking account number
- Routing number: The bank's routing number for your account
- Business name: The legal name of your business as it appears on the account
- Any restrictions: Notes about any restrictions or limitations on the account
How to Request a Bank Letter
There are three ways to request a bank letter from your bank:
In-Person (Quickest Method)
Visit your local branch and ask for a bank verification letter. Most banks can produce this on the spot while you wait. This is the quickest method and ensures you get exactly what you need.
By Phone
Call your bank's customer service line and request a bank verification letter. Here are the phone numbers for major banks:
- Wells Fargo: 1-800-869-3557
- Chase: 1-800-935-9935
- Bank of America: 1-800-432-1000
- Citibank: 1-800-374-9700
- BMO Harris: 1-888-340-2265
- PNC: 1-888-762-2265
- US Bank: 1-800-872-2657
- Capital One: 1-800-655-2265
By Email
Some banks allow you to request a bank letter through their secure messaging system or email. Check your bank's online banking platform for this option. Response times vary but typically take one to three business days.
The Alternative: A Voided Check
If obtaining a bank letter is not convenient, a voided check is an acceptable alternative for merchant account approval. A voided check provides the same essential information:
- Your business name as printed on the check
- Your account number
- Your bank's routing number
To create a voided check, simply write "VOID" in large letters across the front of a blank check from your business checking account. This ensures the check cannot be used for payment while still displaying all the necessary account information.
Next Steps
Once you have your bank letter or voided check ready, the merchant account approval process is straightforward. The Merchant Way makes getting started easy. Contact us with your documentation and we will handle the rest, getting you up and running as quickly as possible.