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Account Updater Services (API) Addendum This Account Updater Services (API) Addendum (this Addendum) is between (Partner) and Reconnect, LLC (Reconnect). The terms of this Addendum are effective as

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How to fill out what is account updater

01

Contact your financial institution to see if they offer account updater services.

02

Provide your updated account information to your financial institution.

03

Check that your account updater preferences are set up correctly to ensure your information is always up to date.

Who needs what is account updater?

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Anyone who has recurring payments or subscriptions linked to their bank account can benefit from using an account updater service.

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What is account updater?

Account updater is a service used by merchants and payment processors to automatically update the payment details of consumers, such as credit card information, to ensure successful transactions.

Who is required to file account updater?

Merchants and payment service providers that process recurring transactions using credit and debit card information are required to utilize account updater services to maintain accurate payment data.

How to fill out account updater?

Filling out account updater involves providing the necessary payment details and consumer information during the setup of the recurring billing system, and ensuring that updates are requested from the service provider whenever there are changes.

What is the purpose of account updater?

The purpose of account updater is to minimize payment failures due to outdated card information, thereby enhancing customer retention and streamlining payment processing for merchants.

What information must be reported on account updater?

The information that must be reported includes updated card numbers, expiration dates, and any changes in the account status, such as closed accounts or expired cards.

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