How do I add a bank account?
In order to receive money and pay online, you will want to add and verify your bank account in your Online Payments settings. Open the Bank Account tab from Settings. Click on the +Add bank account button.
You will be able to either use instant verification or provide bank account details for manual (micro-deposit) verification.
Please note! You can use instant verification once a day and twice a month. Other attempts will be supported only with the micro-deposit verification.
You can instantly verify a customer's ACH Direct Debit banking information instead of using micro-deposits. 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.
If you opt for micro-deposit verification, connect your bank account using a bank account and routing number. Make sure all information is accurate and valid. Click “Save”:
Stripe automatically sends a single, $0.01 micro deposit to your bank account with a unique 6-digit descriptor code that starts with SM. You will want to use this code to verify your bank account.
Please note! Make sure you enter the alphabet letters from the code in ALL CAPS.
The micro-deposit takes 1-2 business days to appear on your online statement.
Once you receive the deposit, go to the Settings and click on Bank Account. Select “Verify“ from the three dots menu next to your added bank. You will have 3 attempts to add and validate this information. If a bank account is not verified within 10 days, it will be removed.
This might be helpful:
How do I set up a business Online Payments account?
How do I set up an individual Online Payments account?
You are able to set up the Online Payments account only when you are connected with the landlord or property manager and their Online Payments account is verified.
Things to keep in mind:
- The “account name” you enter during Manual Verification is for your reference only. Pick something that describes the account so you’ll remember it later. For example “B of A - checking”.
- Your account type must be a checking account. You cannot link savings and “non-transactional” accounts like investment or money market accounts.
- Your routing number is the nine-digit code your bank uses to identify how funds are sent and received through your bank account. Do not enter a special routing number that your bank gave you just for wire transfers only - use the typical routing number found on your paper checks or on your bank’s website.
You are able to add only one bank account and once you add it, it becomes the Main Bank. When you receive online payments from your landlord or property manager for completed tasks, all funds will be sent to this bank account.
Nov. 21, 2023