Migrating your Karat account

If your organization is enrolled in a product migration (for example, Karat Banking or the Karat Card moving to a new partner bank), your dashboard shows a Migration Center that walks account owners through the required steps and shows the new account and card numbers once the migration completes. This page only applies to organizations enrolled in a product migration. If your organization is not migrating, you won’t see the Migration Center.

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Who sees the Migration Center

The Migration Center is available to everyone on an organization that Karat has enrolled in a migration, but what you see depends on your role:

• Liable account owners get the full page with the deadlines banner, product cards, required tasks, ready-account cards, optional tasks, and team progress. Only owners Karat has recorded as a liable party on the business can review the migration, accept agreements for the organization, or move funds.
• Other owners and teammates get a simpler Migration Center focused on the product agreements they need to accept, plus an optional replacement-card flow when they’re eligible.

To open it:

1. Sign in at app.trykarat.com.
2. In the left sidebar, select Migration Center. A badge appears next to the entry when you have open tasks.

The first time a liable owner opens the dashboard after a migration starts, Karat shows a one-time intro modal titled Your accounts are moving to a new bank. It summarizes the deadline, what’s moving, that your Karat standing and FDIC insurance don’t change, and the four steps that follow once you finish your tasks (new accounts open, old cards keep working for 30 days, Karat tells you which payers and merchants to update, then old accounts close and your balance moves). Select Get started to dismiss it; it won’t appear again.

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What you’ll see in the Migration Center

The Migration Center is organized into a few sections, and what appears depends on where each migrating product is in the process.

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Deadlines banner

At the top of the page, a banner lists each migrating product and its cutover date, for example, “Finish Karat Banking by [date].” Complete your required tasks by the listed date to keep your products working without interruption. Select Why is this happening? to open a short explanation of what changes (such as your account and routing numbers, or your card numbers and issuing partner bank) and what stays the same (your Karat login and dashboard, your credit limit and rewards history, and your Karat Concierge team).

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Product cards

You’ll see one card per migrating product (Karat Banking, Karat Card, or both). Each card summarizes:

• What changes with the migration.
• What stays the same.
• The cutover date for that product, if one is set.

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Required tasks

Under Required tasks, the Migration Center lists the steps each owner needs to complete. Depending on your migration, you may see:

• Review business information: Confirm the business, ownership, and account activity details Karat has on file, and accept the updated agreements for the new partner bank.
• Provide additional information: Verify your identity and upload documents such as your EIN.
• Choose replacement cards: Decide whether to reissue a physical debit or charge card for each migrating product once that step becomes available.

Each row shows a status (such as “Pending verification by other owners” or “Verification in progress”) and a button to take the next action. If a task can’t be completed, the row shows Contact Concierge.

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Optional tasks

If your organization is migrating banking, an Optional tasks section appears with a link to Move payments. These tasks help you finish moving money and connected services to your new accounts. They’re optional but recommended before the cutover date. See Move payments below.

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Team migration progress

Owners also see a Team migration progress section that lists each teammate and where they are in their own migration steps. For teammates who still need to act, select Copy secure link to copy a sign-in URL you can share with them.

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Blocked migrations

If your migration is on hold, the Migration Center shows a red alert at the top explaining the issue and a Contact Concierge link. Contact our concierge team before continuing.

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Migration review and additional information

Selecting Review now on the review task opens the account migration form.

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Review business information

Walk through the review sections and confirm each one:

• Business information
• Business address
• Ownership details
• Account activity (see below)
• Terms: the updated agreements for the new partner bank

Use Edit on any section to update it before you submit. In the Terms section, open each agreement and check the box to accept it. You must accept every listed agreement before you can submit the review.

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Account activity questions

During migration review, owners are asked to complete the Account activity questions so Karat can re-verify how your accounts will be used. You’ll be asked about:

• What your accounts will generally be used for.
• Estimated monthly volume for non-wire electronic transfers and for wire transfers, including whether any go to or from outside the United States, and which countries are involved.
• Whether your business handles money on behalf of clients.
• Whether your business is in any regulated professional service categories.

You can update these answers from the same review screen before you confirm.

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Changing business structure and owners

If your business structure has changed since you first applied, you can update it from the Business information section during Review. Switching to a sole proprietorship removes any co-owners from the request when you submit: a confirmation dialog explains this, and switching back before you submit restores them. From the Ownership details section you can also:

• Add a new owner.
• Remove an owner you added during Review.
• Pick which owner is the responsible party.

Owners whose identity has already been verified for the migration are locked and can’t be edited or removed from Review.

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Confirming the review

When every section is complete, select Confirm to submit your review. Karat saves your draft, moves you to the Additional information step, and starts verification. If something is missing, invalid, or an agreement isn’t accepted, the confirmation alert points you back to the specific section or owner to fix. Once you confirm and verification begins, the Review step is locked and you can’t return to it. If you need to change something after that, contact our concierge team.

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Additional information and verification

The Additional information step shows verification progress for the business and for each owner. Depending on your situation, you may be asked to:

• Upload your EIN (or another business document) for the business.
• Complete an identity check for each owner. Owners who haven’t started yet see their invite status; owners already in progress show as Under review.

The page polls in the background. When new information is needed, the status updates and shows the exact next action. You can leave the page and come back: verification continues in the background. Once verification clears, this step also becomes a New account details view where each new account or card appears as soon as it’s ready. While Karat is still setting things up, you’ll see messages like “We’re setting up your new accounts” or “Waiting on beneficial owner verification.” As artifacts finish provisioning, they replace the waiting message and you can copy the details right from this step.

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Issue replacement cards

After your new accounts and cards are provisioned, the migration form advances to an Issue replacement cards step. You’ll see one card per migrating product (debit for Karat Banking, credit for the Karat Card) showing:

• The last four digits of your previous card.
• The last four digits of the replacement card.
• The cutover date after which the old card stops working.

For each product, toggle Reissue a physical card on or off. Choosing not to reissue doesn’t extend the old card’s availability; the old card still stops on the cutover date. Once you’ve saved a “reissued” choice, it’s locked in for that product.

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When your new accounts and cards are ready

After the migration completes, the Migration Center shows a Ready accounts section with a card for each new account or card set:

• New checking account: Your new account and routing numbers, masked by default. Select the reveal icon on either field to show and copy the full number. You can also Download bank letter to get a PDF confirming the new account details.
• New virtual debit card or New virtual charge card: The card number, expiration, and CVV for each owner’s replacement virtual card. Select the reveal icon to show and copy each value, or select See cards to jump to the full card in Cards.

Physical replacement cards continue to arrive in the mail. For more on card timing and delivery, see Physical card production and shipping and Replacing cards. Once your new accounts are ready but some payments still use your previous details, Karat shows a dismissible Your new Karat account is ready — Some payments still use your previous details banner across the dashboard. The banner’s action label shows the cutover deadline and takes you to the Move payments section of the Migration Center. Dismiss it once you’ve finished redirecting payments.

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Move payments

If your organization is migrating banking, the Migration Center links to a Move payments page under Optional tasks. The page has three sections you can work through in any order:

• Funds: See the balance in your legacy Karat account and, if you have permission to move money, transfer remaining funds between your legacy accounts.
• Payment activity: Review recent Incoming payments, Outgoing payments, and Card payments on your legacy account. Use these lists to identify payers to share your new account and routing numbers with, outgoing payments to redirect, and merchants where you need to update the card on file.
• Connections: Check the status of your external connections (such as Plaid and QuickBooks) so you can reconnect them to your new account when it’s ready.

You can leave and return to this page at any time during your migration. When you’re done, select Done to go back to the Migration Center.

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For teammates and non-liable owners

Teammates on a migrating organization who aren’t liable owners get their own Migration Center, titled Complete migration tasks for [organization]. It has two tasks you work through in order:

1. Review and accept product agreements: Open and accept the required agreements for the new partner bank or card issuer. If agreements aren’t ready yet, the task shows a Preparing agreements status and the Migration Center has a Check again button to reload.
2. Choose replacement charge cards: After you accept your agreements, choose whether to order a replacement physical card and confirm the shipping address. If no replacement cards are needed for you, the task completes automatically with a “No replacement cards needed” status.

When both tasks are complete, the page shows a “You’re all set” panel.

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Getting help

If you have questions about your migration, or if a task shows Contact Concierge, contact our concierge team. _{Karat is a fintech company, not an FDIC-insured bank. Banking and Card services provided by Grasshopper Bank, N.A., First Internet Bank of Indiana, and Cross River Bank, Members FDIC.}