Answers
Yes, with notice. Most agreements require you to tell the funder before changing the account remittances come from and to sign a new pre-authorized debit agreement. Changing without notice can be treated as a breach.
✓ Checking what you qualify for does not affect your credit score.
Yes, with notice. Most agreements require you to tell the funder before changing the account remittances come from and to sign a new pre-authorized debit agreement. Changing without notice can be treated as a breach.
Key facts
Related: Business Funding Answers for Canadian Owners · Business Funding Requirements in Canada · What Business Funding Costs in Canada, Compared · Documents Needed for Business Funding in Canada · Merchant Cash Advance Canada: How It Works and Costs
Remittances are collected from a specific business bank account under a pre-authorized debit agreement, or through your card processor. If revenue moves to a new account without the funder's knowledge, collections stop and it may look like revenue is being diverted.
If remittances come through a card-processor holdback, changing processors needs the same notice. The funder may need to set up collection with the new processor or switch to debits from your bank account.
If your question is about your own file rather than the general rule, the fastest route to a specific answer is a review. Send a signed application and your last four months of business bank statements, mention this question in a note, and the response will address it directly. You can also call (305) 384-8391 and ask before applying; there is no cost to ask.
If a scheduled debit hits an account that has been closed or emptied, it returns as a failed payment and can trigger fees under the agreement. That is the main reason to keep the old account open and funded until the first collection from the new account clears.
If something does go wrong, call the funder the same day. A quick explanation and a manual payment usually resolve it; silence is what turns a banking change into a default.
Reviewed by the Merchant Fund Express team on October 12, 2026. Official pages checked as of that date.
Not if you give notice and set up the new account properly.
They may need time to set up the new account but generally cannot unreasonably refuse.
Not necessarily, but the debit agreement will be processed through it.
Educational information only. It is not legal, tax or accounting advice.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
