A backup banking relationship can reduce operational concentration if it is opened transparently and used for an approved purpose.
Separate critical functions
Where suitable, maintain approved routes for operating cash, tax reserves and processor settlement.
Keep KYC consistent
Ownership, business-description and source-of-funds information should be accurate across providers.
Plan settlement changes
Document how processor bank details will be changed and verified if an account closes.
Related: If this is part of a wider banking or payment issue, see our business bank account options.