Why do you ask for banking information to set up a float if you already have my banking information on file?

This is necessary because of added security measures and verification protocols. To ensure the security of our services and our partners, as well as to mitigate fraud and money laundering risks, 7shifts is required by law to gather specific information from businesses that use our services. This included information about your business and personal details. These practices are standard across the industry; all payment processors will request similar information.