Verifying Your Bank Account with Illion

At Pay Advantage, we use Illion, a secure bank account verification service, to confirm ownership of your nominated settlement account.

This verification is an important part of our account setup process and helps ensure that the funds you collect from your customers are deposited into the correct business bank account.

What Is Illion?

Illion is a third-party financial technology provider that offers secure bank account verification services.

Pay Advantage uses Illion to verify your nominated settlement account as part of our merchant onboarding and verification process.

This allows us to confirm your bank account details and ownership before we begin transferring funds to your business.

Why Do I Need to Verify My Bank Account?

Bank account verification is an important security measure that helps protect your business and your funds.

By completing this process, we can:

• Confirm account ownership: Verify that the nominated bank account belongs to your business.

• Prevent incorrect settlements: Reduce the risk of funds being transferred to an incorrect or unauthorised bank account.

• Protect your business: Help prevent fraudulent or unauthorised changes to settlement details.

• Complete your account verification: Ensure your settlement account meets our requirements before funds are released.

Is Illion Secure?

Yes. Illion provides a secure bank account verification process designed to confirm account information while protecting your financial data.

The verification is completed through a secure connection, allowing the necessary account information to be checked without requiring you to provide bank statements manually in most cases.

Pay Advantage does not use this process to make payments or transfer funds from your bank account. Its purpose is to verify your account details and ownership.

How Do I Complete My Bank Account Verification?

When prompted to verify your settlement account:

1. Open the secure bank account verification link provided during your Pay Advantage application.

2. Select your bank from the list of supported financial institutions.

3. Follow the prompts to securely connect and verify your bank account.

4. Select the business bank account you'd like to use for settlements, if prompted.

5. Complete the verification process.

Once submitted, we'll review the verification results and confirm whether any further information is required.

What If My Bank Isn't Listed or I Can't Complete the Verification?

If you're unable to find your bank, are experiencing technical difficulties, or cannot complete the verification process, please contact our Customer Support team.

Our team can review the issue and advise you on the next steps.

Please note that not all financial institutions or account types are supported for settlements through Pay Advantage.

Need Assistance?

If you have any questions about Illion or need help completing your bank account verification, our Customer Support team is happy to assist.

Email: support@payadvantage.com

Phone: 1300 641 310

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