Portal offers two ways for your customers to verify their bank account information for ACH Payments.
The easiest and fasted account verification is through our secure connection to Plaid. Plaid is a web service that securely connects financial accounts to software applications for payment processing. Plaid is safe, reliable, and designed for customers and businesses who want to make secure financial access totally seamless. Stripe, Venmo, American Express, Capital One, Ally Financial, Wells Fargo and many more use Plaid.
Plaid provides instant bank account verification, and the ACH bank transfer process can begin immediately.
Your clients have the option to verify their bank information through micro-deposit. This adds 24 to 48 hours to the ACH bank transfer process as it requires a manual account verification step from your client.
Once this option is selected, within 24 hours your client will receive a small deposit in their bank account with a unique code in the transaction description. Once the deposit is made, your client will also receive an email with a link to enter the unique code and verify their bank account. Once the code is entered, the ACH transfer is initiated and the 3 to 5 day processing window can begin.