How to Add and Verify Your Bank Account
Banking Verification for Deposit
The process to set up your account to collect funds is divided into two parts:
Add a bank account
- Click Banks on the left navigation bar
- Select the New Bank Account button at the top right of the page
- Enter in your account information in the following fields, which are all mandatory:
- Nickname for account - great for when you have multiple accounts
- Bank Name
- Account Type - checking or savings
- Name of Account Holder
- Routing number
- Account number
- Address and telephone number of account holder - you will have the option to use your group address if it’s already saved in your Group Info
- Select How you will receive funds in the Transfer Method dropdown menu
- Select When you will receive funds with the Transfer Period dropdown menu
Note: You have the option to select whether this is the primary bank account into which funds should be transferred.
- Click Save
Verify your bank account
We take security very seriously, which is why we require bank account verification for any banking deposits. You only need to take this step once, but it helps us confirm that your money is being transferred to YOU.
To verify your bank account, please send the following information to email@example.com:
- Your name
- Your group's name
- A contact phone number
- A scanned image of your government-issued ID
- An image of a voided check
Note: We also accept letters from the bank if your group does not have checks.
You may use the following format:
Hello, I am from _____ group and I am sending you the required banking verification information. My contact number is (xxx)xxx-xxxx. I have attached a scanned copy of a voided check and government-issued photo identification card.
All funds collected will be held until your account has been verified.
Once your account has been confirmed, you will receive a deposit during the next transfer period, which (unless otherwise stated in your preferences) occurs on a weekly basis each Wednesday. Deposits are sent on Wednesdays but typically take 48 business hours to reach your account. Most groups will receive their transfers on the Friday of each week. If there is a holiday on Monday transfers will be delayed by one business day.
Please contact support if you have any questions.
Our secure fax number is (310) 988-2481.