Connecting your bank account with micro-deposits

  • Updated

You can easily connect as many bank accounts as you want to your Melio account.  

There are two ways to connect your bank account:

How to verify 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.

We’ll also show you how to verify your bank account, once you receive the micro-deposits.

 

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.

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3. Select Verify with deposits when asked to connect your bank account.

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4. Enter your account number and ACH routing number.

Note: An ACH routing number is required as Melio doesn’t currently support domestic wire transfers.

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5. Click Save and continue.

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6. 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.

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

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  1. Enter your account number and ACH routing number.

Note: An ACH routing number is required as Melio does not currently support domestic wire transfers.

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5. Click Save and continue.

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Verifying your bank account

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:

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.MD_8.png

4. Entering the amounts.

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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”.MD_10.png

5.  Entering the amounts and clicking Submit and verify my account.

 

Note: Understand more about micro-deposits

  • Micro-deposits will be debited back from your account within a few days of being deposited.
  • Verification by micro-deposits is a one-time process.
  • 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.

 

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 ID codes:

  • 1320565847
  • 1294287528 
  • 1061273133

 

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