px.ads.linkedin.com
logo

Help Center

Can I change my payout method after my account is approved?

Yes, you can update your payout method after your account is approved and active. To do so, you will need to log in to your Stripe account and make the necessary changes to your payout details. This includes updating your IBAN and ensuring that the account information matches the bank account to which you want the payouts to be sent.

Here are the detailed steps to update your payout method in Stripe:

  1. Log into your Stripe account:
    1. Go to Stripe's website and log in using your account credentials (email and password).
  2. Navigate to the 'Payouts' section:
    1. Once logged in, go to the Settings tab in the left-hand sidebar.
    2. Under Account settings, find and select Payouts.
  3. Edit your payout details:
    1. In the Payouts section, you will see your current payout method listed. Select Edit to modify your payout method.
    2. You can now update your IBAN and bank account details.
  4. Enter the correct IBAN:
    1. The IBAN you provide must be valid and linked to a German bank account to ensure payouts are successfully processed.
    2. Double-check that all the details are accurate to avoid any issues with future payouts.
  5. Save the changes:
    1. Once you've entered the updated payout details, click Save to confirm the changes.
  6. Verification by Stripe:
    1. After updating your payout details, Stripe may require a brief verification process to ensure the new account information is correct.
    2. In some cases, Stripe may send a small test deposit to your new bank account to confirm that the account is active and able to receive funds. This typically takes a few business days.
  7. Confirmation of the update:
    1. Once your payout method has been successfully updated and verified, you will receive a confirmation email from Stripe. At this point, you can expect payouts to be directed to your new bank account.

Important Notes:

  • Payout method update frequency: You can update your payout details at any time after your account is approved, but ensure that all your details are accurate to avoid any delays in receiving payments.
  • German bank account requirement: Since iKnowly only supports payouts to German bank accounts, it is important that your new payout method is tied to an account located in Germany. If you are unsure about the IBAN or need assistance, you may want to contact your bank for guidance.
  • Payout processing time: Once your payout method is updated and approved, Stripe processes payouts on a weekly basis (typically every Wednesday). After the payout is initiated, it may take up to 3 business days for the funds to reach your bank account.

If you encounter any issues during the process or need further assistance in updating your payout method, you can always contact our support team at support@iknowly.com, and we will be happy to help you resolve the matter promptly.