In order to receive money and pay online, you will want to add and verify your bank accounts in your Online Payments settings. Open the Bank Account option. Click on the +Add bank account button.
The system will give you the option to select the entity to which this bank account should be connected.
Provide the account name and account holder name and click “Next”:
You will see a dialog that gives you the option to use instant verification or provide bank account details for manual (micro-deposit) verification.
Note! You can use instant verification once a day and twice a month. Other attempts will be supported only with the micro-deposit verification.
Instant verification
You can instantly verify a customer's ACH Direct Debit banking information instead of using microdeposits. Click on the "Agree and continue" button and select your bank.
The next window with the option to log in to your bank account will appear. You are welcome to click "Continue" and provide your login credentials to add your bank account right away:
Manual Verification
If you opt for micro-deposit verification, please select the "manually verify instead" option and connect your bank account using a bank account and routing number. Make sure all information is accurate and valid. Click "Submit":
How Bank Account Verification Works
Once you add a bank account, Stripe attempts to verify it using one of the following methods:
1. Real-Time Payments (RTP)
Stripe will first try to send a microtransaction via RTP.
If successful, your bank account will be verified within minutes.
2. Micro-Deposit Verification
If RTP is not supported by your bank, Stripe will send a $0.01 deposit.
The deposit will include a 6-digit descriptor code starting with “SM” (e.g.,
SM12BA).Once the deposit appears in your online statement (up to 2 business days), enter the code exactly as shown, with capital letters, and click Verify.
Important Notes
You have 3 attempts to enter the correct code and verify the bank account.
If all 3 attempts are used, you’ll need to contact Stripe Support for help.
If a bank account is not verified within 10 days, it will be automatically removed.
The number of bank accounts you can add is based on your subscription plan limits.