When a bank changes its name or is bought out, and account numbers are staying the same and only the name is changing, the bank account Description (CM Setup, Bank Accounts) can be changed to reflect the new name. In addition, the Bank Accounts setup window, on the Contact tab, the Bank name can be changed to reflect the new name.

If the routing number changes, this must be changed in PR Tasks, Generate Direct Deposits, Options button the next time direct deposits are generated.

The actual Bank account ID cannot be changed. To have the Bank account ID reflect the new bank name, a new bank account must be set up. See article ID 17697 How do I set up a new bank account in Cash Management?

WARNING: If you are using a third-party check writing software, such as AvidXchange (formerly Piracle Create-A-Check) or PrintBoss, consult with your third-party software to verify if there are any implications of changing the bank name and/or if any changes need to be made in that software.