US Bank account and acquirer changes for Visa and Mastercard volume processed through Wells Fargo

Adyen will become the direct Visa and Mastercard acquirer for your US volume replacing the current sponsor acquirer, Wells Fargo. Exact dates will be included in this F&Q within the following weeks once they are confirmed.

 

Why is Adyen choosing  to become the  direct acquirer?

Adyen’s goal is to have full control of our end to end processing solution that we offer to merchants. With the recent approval of our US Federal Branch license, we can now move away from needing a BIN sponsor in the US. 

 

When will Adyen become the direct acquirer?

A follow up communication will be shared with the exact dates for the change. This FAQ will be updated once exact dates are confirmed.

 

Why is Adyen changing bank accounts?

Starting February 22nd, the schemes will settle the funds to a bank account owned by Adyen instead of  Wells Fargo. Therefore, payouts to your bank account will be initiated from the new Adyen owned bank account.  

 

Will this change payout schedules?

No, this change will not impact merchants’ payout schedule. 

 

Where can I see the updated account details?

Adyen’s new  account details will be available to you within your bank statement once the change takes place. If you require to have the account details beforehand, please reach out to your Adyen point of contact.

 

Does this change drive any adjustments to Adyen’s US compliance and risk reviews?

No. This change does not drive any adjustments to Adyen’s US compliance and risk reviews.

 

What impact does this have? 

Only merchants whose reconciliation process verifies the remittance bank account or the payout descriptor field will need to review their financial processes to assess if any changes are deemed necessary. 

 

What will the payout description field contain?

The payout description field will change from "Wells Fargo", to a new value: “Adyen”; as Adyen will be the owner of the remitting bank account. Depending on how your bank statement appears, you may see the whole field or a truncated version.

 

Will there be any impact to authorization rates?

No. This change will effectively only change the bank account used by Adyen when paying out funds to merchants. 

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