Why do you ask for banking information to set up a float if you already have my banking information on file?
Question
Why do I need to give my banking info again for the float setup?
Answer
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 includes information about your business and personal details. These practices are standard across the industry; all payment processors will request similar information.
⚠️ Important: As of June 30, 2026 the 7shifts Tip Payouts feature will no longer be available in the 7shifts app. We know waiting weeks for payday is hard on hourly workers, so we're partnering with Clair to bring employees free, on-demand access to their earned tips and wages directly in the 7shifts employee mobile app. No float required on your end, no extra admin work. Your tip pools are not affected. Learn more about the transition to On-Demand Tips with Clair here.