How to Change Bank Details in Flipkart Seller Account: Step-by-Step Guide

Home » How to Change Bank Details in Flipkart Seller Account: Step-by-Step Guide

Updating your bank account information on Flipkart is a critical task that, if done incorrectly, can lead to significant payment delays and disruption to your cash flow. Whether you’re switching banks, updating details, or adding a new account, it’s essential to follow Flipkart’s process precisely to ensure a smooth transition.

How To Change Bank Details In Flipkart Seller Account, Infobeam Solution

This step-by-step guide by InfoBeam Solution will walk you through the safe and correct way to change your bank account details in your Flipkart Seller Hub, minimizing risk and ensuring your hard-earned sales revenue continues to flow without interruption.

Table of contents

Important Precautions Before You Begin

  • Understand the Impact: When you change your bank account, Flipkart will place a temporary hold on your payments for a security verification period. This typically lasts for 7-10 days.
  • Check for Pending Payments: Ensure all pending settlements have been processed and reflected in your old bank account before initiating the change. Changing details during a payout cycle can complicate transactions.
  • Have Documents Ready: Keep a scanned copy of your canceled cheque or a bank statement for the new bank account handy. The name on the bank account must match the name on your Flipkart seller account.

Step-by-Step Guide to Change Your Bank Details

Step 1: Log In to Your Seller Hub

  1. Go to the Flipkart Seller Hub portal (seller.flipkart.com).
  2. Log in with your seller credentials.

Step 2: Navigate to the Payments Section

  1. On the main dashboard, look for the “Payments” section in the main menu.
  2. Click on it and select “Manage Bank Account” or “Bank Details” from the dropdown.

Step 3: Initiate the Bank Account Change

  1. You will see your currently registered bank account details.
  2. Look for and click the button that says “Change Bank Account” or “Edit.”

Step 4: Enter New Bank Account Information

  1. You will be prompted to enter the details of your new bank account.
  2. Fill in all fields accurately:
    • Bank Name
    • Account Holder’s Name (Must match your KYC documents exactly)
    • Account Number
    • IFSC Code
  3. Double-check all entered information. An error here will cause payment failures and further delays.

Step 5: Upload Verification Documents

  1. You will be prompted to upload a proof for your new bank account.
  2. Acceptable Documents:
    • A clear, scanned copy of a canceled cheque with your name pre-printed on it.
    • A bank account statement (not older than 3 months).
  3. Ensure the document is clear and all details are visible.

Step 6: Submit for Verification

  1. After filling in the details and uploading the document, review everything one final time.
  2. Click the “Submit” or “Save” button.
  3. You will likely see a confirmation message on the screen and receive an email confirming that your request is under review.

What Happens After Submission?

  • Security Hold: Flipkart will place a hold on your payments for approximately 7-10 business days for security verification.
  • Verification Process: The Flipkart payments team will verify the new details you provided against the uploaded documents.
  • Confirmation: Once verified, you will receive a confirmation email. After this, future settlements will be credited to your new bank account.
  • Test Transaction: Flipkart may send a small test transaction to your new account to validate it. Keep an eye on your bank statement.

Troubleshooting Common Issues

  • “Edit” Button Not Working/Greyed Out: This usually means a payout is in process. Wait for all pending transactions to clear before trying again.
  • Payment Hold is Longer Than Expected: Contact Flipkart Seller Support through the “Help and Support” section in your Seller Hub. Provide them with your ticket number for a faster resolution.
  • Mismatch in Account Holder Name: The name on your bank account must perfectly match the legal business name on your Flipkart seller account. If you have changed your business name, you must update your KYC details first before changing the bank account.

Best Practices for a Smooth Transition

  • Time it Right: Initiate the change during a period of low sales activity, if possible, to minimize the impact of the payment hold.
  • Maintain Old Account: Do not close your old bank account until you have confirmed that at least one successful payout has been made to the new account.
  • Keep Records: Save the confirmation email you receive from Flipkart for your records.

Need Expert Help Managing Your Flipkart Account?

Financial operations are the backbone of your business. If you’re unsure about the process or want to ensure it’s handled flawlessly, our team at InfoBeam Solution can manage your account details and daily operations, giving you peace of mind.

Let Our Experts Manage Your Flipkart Account for You. Contact us: +91 96545 53640 or email sales@infobeamsolution.com.

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