How do I save a bank account?
If you want to save your bank account for your next ACH payments you can add a bank account in your settings. Navigate to Settings, and click the Bank Accounts item. This is the list of your bank accounts. Click the "add bank account" button to start adding the bank account.
You are able to add a bank account to pay via ACH payments only if you are connected with your landlord or property manager and their Online Payments account is verified.
Click on the "Agree" button and select your bank. You will see a dialog that gives you the option to use instant verification (recommended) or provide bank account details for microdeposit verification.
Instant verification (recommended)
You can instantly verify a customer's ACH Direct Debit banking information instead of using microdeposits.
By clicking Link account you will see a dialogue window with the option to log in to your bank account.
If you opt for microdeposit verification, Stripe automatically sends two small deposits to the provided bank account. These deposits can take 1-2 business days to appear on your online bank statement. When the deposits are expected to arrive, you receive an email with instructions to log in to your account, confirm these amounts and verify the bank account. After verification is complete, the payment begins processing.
- Descriptor code. Stripe sends a single, 0.01 USD microdeposit to your bank account with a unique, 6-digit descriptor code that starts with SM. You use this to verify your bank account.
- Amount. Stripe sends two, non-unique microdeposits to your bank account, with a statement descriptor that reads AMTS: amount1, amount2. You use the deposit amounts to verify your bank account.
Please note! Make sure you enter the alphabet letters from the code in ALL CAPS
Microdeposit verification failure
When a bank account is pending verification with microdeposits, it can fail for three reasons:
The microdeposits failed to send to your bank account (this usually indicates a closed or unavailable bank account or incorrect bank account number).
You made 10 failed verification attempts for the account. Exceeding this limit means the bank account can no longer be verified or reused.
The customer failed to verify the bank account within 10 days. It will be automatically deleted.
Every time you initiate the ACH transaction (Bank Transfer), you will be able to choose this bank account from the drop-down on the Checkout page. The toggle is set for “pay with saved method” by default.
If you would like to pay with another bank account and do not want to save it for the next payments, please select the “pay without saving the payment method” option:
You can save only 2 bank accounts. Your account type must be a checking account.
You cannot link “non-transactional” accounts like investment or money market accounts.
That’s it! Your bank account is successfully added and you can pay rent online.
This might be useful:
How can I pay rent with a bank account?
Feb. 27, 2023