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Setting Statement Descriptor
Setting Statement Descriptor

How to set your statement descriptor on Lopay

Amy Griffin avatar
Written by Amy Griffin
Updated over a week ago

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.

This guide will take you through

  1. To change your statement descriptor, open the Lopay app and click 'More' in the bottom right-hand corner.

2. From the options shown please then select 'Statement Descriptor' . As a default this will be set to the name on your account.

3. To change the name select the box titled 'statement descriptor'. This will bring up your keyboard and you may type what you wish to change it too.

4. Once you've typed what you wish to change it to please select 'save' - This is now your new statement descriptor.

Please note, a complete 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 contact us.

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