While the Dappr Financial Account is designed to be the integrated financial hub for your business, you may need to close your account. This article explains how to request an account closure, the circumstances under which Dappr may close an account, and the actions required to ensure a smooth transition and the successful return of any remaining funds.
The Dappr Financial Account is a commercial account provided by our partner, Fifth Third Bank, N.A., Member FDIC. It serves as the core of your company's financial operations on our platform and is required for using Dappr's payment processing features. Closing your primary financial account will disable your ability to accept payments through Dappr.
Requesting account closure
If you decide to close your financial account, you can initiate the process by sending an email request to [email protected]from the email address associated with your Dappr account.
When Dappr or our partners may close an account
Dappr and our banking partners reserve the right to close a financial account for operational, risk, or legal reasons. Common reasons for closure include:
Account Inactivity: The account has had no payment activity for twelve consecutive months.
High Check Return Rate: The account's mobile check deposit return rate exceeds 20% after a minimum of ten deposits.
Unpaid Fees: The account carries a negative balance of $100 or more that has been outstanding for over fourteen calendar days.
Overdue Dappr Subscription: The Dappr platform subscription linked to the account remains unpaid for ninety days.
Undisclosed Risk: The account may be closed based on internal risk assessments or as required by law.
The account closure process
Whether initiated by you or by Dappr, the closure process follows a specific timeline to ensure all pending transactions can settle and you have time to prepare.
Notification: You will receive a formal account closure notice via email, and a notification will also appear on your Dappr dashboard.
Timeline: The closure will be scheduled for either 75 days after the last account transaction or 14 days from the date of the closure notice, whichever is later. This window allows pending transactions to clear.
Restrictions: Effective immediately upon notification, inbound payments to your account will be restricted. You can still use your account for outbound payments via ACH, wire transfers, or your associated Visa cards until the scheduled closure date.
Final Closure: On the scheduled closure date, all associated Visa cards will be permanently canceled.
Actions required: Connect an account
You must connect an external bank account to receive any remaining balance from your Dappr Financial Account.
Deadline: You need to link a forwarding account before the scheduled closure date.
How to Connect: In your dashboard, you can connect any bank supported by Stripe Financial Connections. For unsupported banks, you can add an account using micro-deposits.
If you connect a forwarding account on time, your remaining balance (less any applicable fees) will be transferred automatically upon closure. Any subsequent credits or debits, such as refunds or ACH reversals, will also be routed to this account.
If you don't connect an account
Failing to connect a forwarding bank account by the closure deadline is a violation of our terms and conditions and complicates the process.
Dappr reserves the right to withhold any remaining balance that is less than $2.00, and charge that amount as an account closure fee.
If your balance is higher than or equal to $2.00, Dappr will continue to try to get in touch with you to return the funds. If we're unable to do so, we will eventually inform our partner bank and they will follow bank procedures and state escheatment (unclaimed-property) laws.
Furthermore, your account will be suspended, and the final closure will be postponed to accommodate the process.
Important considerations
A Dappr Financial Account is required to use Dappr’s payment processing services. If your primary financial account is closed, these services will be disabled, and you will no longer be able to accept card or ACH payments from customers.
Closing your financial account does not automatically cancel your Dappr platform subscription. If you wish to stop using Dappr entirely, you must cancel your subscription separately in your dashboard under Settings > Billing.
Fraud and security
If an account is closed or suspended due to suspected fraudulent activity, Dappr and our partners may hold the remaining balance for a period necessary to conduct a full investigation. If fraud is confirmed, these funds may be held indefinitely to mitigate losses. You agree to release Dappr and its partners from liability for any transactions honored or refused on a closed account.