Connecting your bank account with micro-deposits

You can easily connect as many bank accounts as you want to your account, using two ways:

• Verifying with micro-deposits 
• Instantly by logging in with Plaid (using your bank login credentials)

 

What are micro-deposits?

Micro-deposits are small amounts of money that enter your bank account so we can verify your account. These will be debited back from your account within a few days of being deposited.

 

How long will it take to connect my bank account?

Receiving micro-deposits can take up to 3 business days. 

There are two key steps to connecting your account through micro-deposits:

1. Add your bank account details.
2. Verify your bank account using micro-deposits, once you receive them.

You must verify your account before you can use it for payments.

Note: Verifying your account

• You can’t ask to verify more than 2 bank accounts at once. Please wait until those bank accounts are verified before you connect any more.
• There is a limit to how many times you can enter the wrong code. After that, your bank account will be blocked and you'll no longer be able to connect it. Failed to verify your account? Here's what to do.
• Verification by micro-deposits is a one-time process for that bank account.

 

How to add your bank account with micro-deposits

There are two ways to add a bank account:

1. When making a payment. 
2. In the account settings.

 

Adding your bank account when making a payment 

1. Select or add a bill to pay.
2. Choose Bank Account when asked how you want to pay.

3. Select Verify with deposits.

4. Enter your account number and ACH routing number. An ACH routing number is required as Melio doesn’t currently support domestic wire transfers.

5. Click Save and continue.

6. Click Got it.

7. Complete your payment as normal. Your payment will only be processed once your account is verified. 

Add bank account in settings

1. In your Melio account, go to Settings.

2. Select Payment Methods to connect a bank account you'd like to make payments from, or Receiving Methods to connect a bank account into which you'd like to receive funds.

3. You’ll see Payment methods on the right of your screen.  In the Bank account section click Add this method.

4. Enter your account number and ACH routing number. An ACH routing number is required as Melio does not currently support domestic wire transfers.

5. Click Save and continue.

6. Click Got it.

 

Verifying your bank account

You must verify your account before you can use it for payments.

Within 3 business days, you’ll receive two very small deposits into the account you wish to connect. There are three ways to verify your account:

1. Email
2. Settings
3. Pay tab

Email

Once you get the micro-deposits, you'll also get an email with a link, where you can enter the two micro-deposit amounts. This will verify your account.

Settings

You can also verify your bank account by:

1. Going to Settings.
2. Going to Payment Methods.
3. Clicking Verify account.

4. Entering the amounts.

5. Clicking Submit and verify my account.

Pay Tab

If you added a new bank account when making a payment, Melio will remind you that action is needed to complete the payment successfully. You can verify your bank account from your scheduled payment by:

1. Going to Pay.
2. Going to Scheduled.
3. Selecting the relevant payment. 
4. Clicking the verify link in the note “Action required”.

IMPORTANT NOTE: Originator IDs

One last thing - make Melio an authorized debtor by providing your bank with our originator IDs before making payments through Melio. You’ll only need to do this once. 

Here are Melio’s originator IDs:

• 1320565847
• 1294287528 
• 1061273133
• 1289133000

NOTE: Failed to verify your account?

There's a limited number of attempts allowed to verify your bank account. If you failed to do so, here’s what to do.