What is a microdeposit for ACH verification and why is it necessary?

A micro deposit is a small amount of money (often less than $1) sent to your bank account to verify account ownership and authorize ACH (Automated Clearing House) transactions. To complete verification, you link your bank account, receive two small deposits, and then confirm the exact amounts back to us online or by phone. The sections below explain the purpose, process, and benefits of micro deposit verification.

What Is the Purpose of Micro Deposits?

1. Verification: To confirm that the account details provided are correct and that you have access to the account.
2. Ownership Confirmation: To verify that you are the legitimate owner of the account and have authorized its use for ACH transactions.

How Does the Micro Deposit Verification Process Work?

1. Initiation: When you manually link your bank account for ACH transactions, there will be two small amounts into your account.
2. Delivery Timeframe: The two micro deposits typically appear in your bank account within 1–3 business days after initiation.
3. Notification: Once the deposits appear, check your bank account statement or online banking to find the exact amounts.
4. Confirmation: You then provide these amounts back to us which can be done online under your bank account page, or you can give us a call. This step validates that the account details are correct and that you have access to the account.

What Are the Benefits of Micro Deposit Verification?

• Security: It ensures that the account is valid and helps prevent fraudulent activity.
• Accuracy: It helps confirm that funds will be correctly deposited or withdrawn from the intended account.

Micro deposits are a simple and effective way to verify account information and set up ACH transactions securely.