Client Bank Account Verification - Plaid vs. Manual Entry

Bank Account Verification

How FlexPoint verifies client bank accounts and ensures secure connections

When a client adds a bank account, FlexPoint ensures the connection is secure and the account is verified. Verification times vary based on whether the client uses Plaid or enters ACH information manually.

Bank Verification Options

Plaid

• Clients can securely connect their bank account in seconds
• Recommended for ease and speed of verification
• Available only in the client portal

Manual ACH Entry

• Clients enter bank account info manually
• Verification via micro-deposit, which takes longer
• Timeline displayed in the client portal

Frequently Asked Questions

What is Plaid?▶

Plaid allows your customer to securely connect their bank account to FlexPoint in seconds.

Do my clients have to use Plaid?▶

No—clients can enter ACH information manually, though Plaid is recommended.

What is a micro-deposit? Why does FlexPoint do this?▶

A micro-deposit is a small deposit made into a bank account to verify that it is correct and active.

FlexPoint uses micro-deposits to ensure accuracy when clients manually enter account info. The client must confirm the deposit amount in FlexPoint.

Do clients need to verify the micro-deposit amount?▶

Yes, clients input the micro-deposit amount into FlexPoint to complete verification.

Does FlexPoint withdraw money during micro-deposits?▶

No. FlexPoint pushes money to the account to verify it.

Are clients informed of the verification timeline?▶

Yes, the client portal displays the expected timeline for manual entry verification.

Can Plaid be used when adding accounts in the admin portal?▶

No, Plaid is only available in the client portal.