When to Update Payout Information
This guide will walk you through how to update the payout information for your account. Payouts refer to the funds you receive from orders processed through Otter platforms (such as Online Ordering, QR Codes, Otter POS, Kiosk, or Future Foods). There are two main situations where you might need to update your payout details.
1. When a Business Changes Ownership
This situation comes up when a business changes ownership. For example, if Happy Otter Foods LLC is sold to a new owner and renamed Ecstatic Otter Foods LLC, a new Stripe account should be set up under the new business name. In this case, don’t update the existing Stripe account—create a new one instead.
This ensures that important details like tax information are properly set up and routed to the right owner.
- A new stripe account will need to be created for this request. Refer to the Stripe Connection Guide for steps on creating a new Stripe account. Once created and the account is in the “complete” status, remove the unused stripe account from Otter Dashboard.
2. When a Business Needs to Update Bank Account Information
This applies when your business needs to change the bank account where you receive payouts. For example, if payouts are currently going to an account ending in 1111 and you’d like them sent to a new account ending in 2222, you’ll need to update your bank account details.
Step Process Image 1 Log into Otter Dashboard and select the [Profile icon]. 2 In the Profile menu, select [Settings]. 3 In the Settings page's menu on the left, select [Payout settings]. 4 Next to the payout details, click on the [Pencil Icon] to begin editing. 5 Click the [Manage on Stripe] option to manage your payout information directly on Stripe. This will redirect you to Stripe’s platform, where you can update both personal and bank account details.
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