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SafetyCulture's response to the Silicon Valley Bank closure
Learn more about SafetyCulture's response to the Silicon Valley Bank closure.
On March 10, 2023, banking regulators in California closed the Silicon Valley Bank (SVB).
The impacts on the SafetyCulture platform and services were limited to billing, and you can learn more about SafetyCulture's response in this support article.
If you have any questions related to this or need help, please don't hesitate to contact our finance team at ar@safetyculture.com.
Key updates
March 27
SafetyCulture has opened new bank accounts with Citibank and sent communications to customers with updated details.
Please forward these emails to your finance department to action or update your payment system with our new bank account details.
To avoid possible phishing attempts, we encourage our customers to verify bank account details received using the following steps:
Take care to confirm that amended invoices are from the email address and domain of ar@safetyculture.io or ar@safetyculture.com.
Obtain the details directly from the Billing page on the SafetyCulture web app.
Download a new copy of your invoice from the SafetyCulture payment portal link, included in your emails.
Contact our finance team via ar@safetyculture.com with your required verification steps.
Contact our support team, or your Customer Success Manager or Account Executive for a verbal confirmation.
If you have any questions or need help, please reach out to our finance team at ar@safetyculture.com.
Thank you for your help in advance for the timely processing of payments to our revised bank details.
March 13
We are pleased to confirm that our SVB bank account access has been restored, and we have received payments from some of our customers. For completeness, we are sending payment confirmation emails to customers whose payments have been applied to their invoices.
We understand the importance of prompt communication, and we want to ensure that all our customers receive the necessary information about their payments. If you've submitted a payment after March 9, 2023, and have not received a confirmation email, please reach out to our finance team at ar@safetyculture.com.
March 12
The US Federal Reserve Board made an announcement that the Federal Reserve would guarantee 100% of all deposits and cash held by SVB customers. Customers will have access to all of their money starting Monday, March 13.
To the extent this applies to you, we will be in contact once we have new bank account details available.
March 10
In light of ongoing developments with Silicon Valley Bank, SafetyCulture is setting up alternative billing accounts to support some customer payments.
If your organization is affected by this, we will have contacted you. If we contacted you, we ask that you please do not pay your current invoices until further notice. We will inform you about the updated account payment information as soon as we can.
Please note, we will not provide new payment details directly in emails, but we will provide you instructions on how to access them via a trusted source.
Frequently asked questions
Yes, please resume making payments to SafetyCulture for any due invoices, using the new bank account details sent on March 27, 2023.
To avoid possible phishing attempts, we encourage our customers to verify bank account details received using the following steps:
Take care to confirm that amended invoices are from the email address and domain of ar@safetyculture.io or ar@safetyculture.com.
Obtain the details directly from the Billing page on the SafetyCulture web app.
Download a new copy of your invoice from the SafetyCulture payment portal link, included in your emails.
Contact our finance team via ar@safetyculture.com with your required verification steps.
Contact our support team, or your Customer Success Manager or Account Executive for verbal confirmation.
We have set up new bank accounts and communicated these to customers from March 27, 2023.
You can safely access the new bank details using the below methods:
Obtain the details directly from the Billing page on the SafetyCulture web app.
Download a new copy of your invoice from the SafetyCulture payment portal link, included in your emails.
Contact our finance team via ar@safetyculture.com with your required verification steps.
Contact our support team, or your Customer Success Manager or Account Executive for a verbal confirmation.
Review your amended invoice. Please take care to confirm that amended invoices are sent from ar@safetyculture.io or ar@safetyculture.com.
Please note that we won't be providing new payment details directly in the body of an email.
Your organization would be affected if they pay via invoice and is NOT billed in Australian Dollars (AUD).
If your organization is billed in AUD or pays via automatic credit card payment, then they're not affected.
If you're a user with the "Billing management" permission, you can confirm whether your organization is paying via invoice on the web app.
Click your organization name on the lower-left corner of the page and select Billing.
Click Details at the top of the page.
Find the "Payment" section and see if your organization is paying via invoice.
SafetyCulture contacted all customers who have an outstanding invoice and are currently using our SVB bank details to submit payments to us.
Users with the "Admin" or "Billing management" permissions were contacted, requesting them to stop any further payments being made to our SVB bank accounts and that we will be in touch shortly with new bank account payment details.
If your payment was made prior to March 8, 2023, we have received your payment and there is no further action relating to historical payments.
Please do not pay any further invoices to an SVB account and replace these details with our new bank account details found on your invoice or via the Billing page on the SafetyCulture web app.
If your payment was made on or after March 9, 2023, please reach out to ar@safetyculture.com and include your invoice number and we can assist you.
In light of the closure of Silicon Valley Bank (SVB), any payments made, on or after 9 March 2023, to our SVB account may fail.
We have set up a new bank account and have sent communications containing the new details.
You can safely access the new bank details using the below methods:
Obtain the details directly from the Billing page on the SafetyCulture web app.
Download a new copy of your invoice from the SafetyCulture payment portal link, included in your emails.
Contact our finance team via ar@safetyculture.com with your required verification steps.
Contact our support team, or your Customer Success Manager or Account Executive for verbal confirmation.
Review your amended invoice. Please take care to confirm that amended invoices are sent from ar@safetyculture.io or ar@safetyculture.com.
Please note that we will not provide new payment details directly in the body of an email.
As a result of the above, we are dealing with an increase in volumes and you may experience a delay in our response times.
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