If you're looking to transfer the control of your Payment Center account to a new Account Controller, follow this comprehensive guide to understand the process and explore available options depending on your situation.
Overview of the Account Control Transfer Process
Transferring Payment Center account control involves the current Account Controller initiating the transfer and the new Account Controller completing necessary verification steps. This process is designed to ensure secure handover and minimal disruption to account operations. Key Points:
The transfer process typically takes 1–10 business days, during which account transactions are not possible.
Most transfers are completed within a few days, but delays may occur depending on verification requirements.
Steps to Transfer Account Control
Scenario 1: Current Account Controller is Available
Initiate the Transfer: The current Account Controller must initiate the transfer. This can be done via the public website’s chat messenger, and logging in is not required to begin the process.
Verification Process: The new Account Controller will need to complete identity and business verification steps as per your bank's requirements.
Completion Timeline: Once the verification is successfully completed, the control transfer will be finalized within 1–10 business days.
Scenario 2: Current Account Controller is Unavailable
If the current Account Controller is no longer with the organization:
Option 1: Request Alternative Ownership Transfer: - Coordinate with the current Account Controller (if possible) to transfer ownership to the new person. - After the initial transfer, designate the new Account Controller.
Option 2: Close and Set Up a New Account: - If the current Account Controller cannot transfer ownership, you can choose to close the existing Payment Center account and create a new one. - Note the following: - A new setup fee will apply. - You will lose access to existing account data, so ensure to export or copy all necessary information before account closure.
Important Considerations
Transaction Suspension: During the transfer process, account transactions will be temporarily suspended. Plan account activities accordingly.
Data Backup: In case of account closure or prolonged transfer delays, ensure all critical account data is backed up in advance.
Verification Timeframe: Ensure the new Account Controller has all necessary documentation ready to expedite the verification process.
By following these steps and being aware of the potential scenarios, you can transfer control of your Payment Center account securely and efficiently.