Statement descriptors are important because it is the text your customer sees on their bank account statement. It should therefore reflect your business so that customers do not dispute any transactions because they do not recognise them.
1) Open the Lopay app and click "More" at the bottom right-hand corner.
2) Select "Statement Descriptor".
3) Type in the 'Descriptor' box - enter your business name or a brief description of your product/service so that your customer can recognise the transaction
4) Select "Save"
Please note: a statement descriptor must meet the following requirements:
Contains only Latin characters.
Contains between 5 and 22 characters, inclusive.
Contains at least one letter (if using a prefix and a suffix, both require at least one letter).
Must not contain any of the following special characters
<,>,\,'"*.Reflects your "Doing Business As" (DBA) name.
Contains more than one widely used term or common website address. Only a website URL that accurately and concisely describes a transaction on a customer's statement is acceptable.
For any further questions or help, please email us at [email protected].