ACH verification
ACH Verification activates an account's payments:send capability,
allowing it to then be used to send payments (as a source).
info
In the development environment, accounts are automatically verified
and already have the capability to both send and receive payments.
tip
If you are a Neobank that offers checking accounts or savings accounts, verification can be bypassed for provisioned accounts. Please email us at team@methodfi.com for more information.
Verification Methodsâ
- Micro-deposits - two small amounts of money will be deposited into the ACH account, and owner of the account must confirm the exact values of the amounts.
- Plaid - provide raw balance and transaction data from Plaid.
- MX - provide raw account and transaction data from MX.
âšī¸ See the verification object for details on the API.
Micro-deposits verificationâ
After an ACH account has been created, you can start the verification process by initiating micro-deposits verification. Next, Method will deposit two small amounts (between $0.01 and $0.30) into the account and should be received within 1 - 3 business days.
Once the amounts have been received, the owner of the account must confirm the amounts that were deposited.
Plaid verificationâ
ACH accounts that have been created by retrieving routing and account number information from Plaid can be verified by creating a Plaid verification with raw balance and transaction data.
The Plaid verification process only takes a few seconds.
MX verificationâ
ACH accounts that have been created by retrieving routing and account number information from MX can be verified by creating an MX verification with raw account and transaction data.
The MX verification process only takes a few seconds.