The Finix settlement engine defaults to the most recently added Bank Account for sub-merchant when performing settlement payouts.
e.g. A Sub-Merchant, Richie's Rug Reserve has several Payment Instruments associated with its Identity.
- Bank Account A, created on January 6, 2016
- Bank Account B, created on January 16, 2017
Finix will default to Bank Account B because it's the most recent payment instrument.
This feature is useful in the scenario when you have a rejected ACH transaction or a NOC. All you have to do is add the New, Correct Bank Account to the merchant and our system will automatically use that bank account for future payouts.