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.

A few notes: 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 a micro-deposit 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. Create a bill, select a saved one to pay, or make a payment without a bill.

2. Choose Bank Account when asked how you want to pay.

3. Select Verify with deposits.

Note: Seeing another page?

Do you see this page instead? Then you can enjoy the new experience. Click here for the complete guide and follow it.

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. Scroll down to PAYMENTS AND BILLING, 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.

In Pay 

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. Go to the Payments tab and select the relevant payment.

2. In the payment details, within the note Action required, click the verify link.

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

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.

The new way to connect and verify your account with a micro-deposit

Melio is using Plaid to connect to more than 100 banks in the U.S. Plaid will send the micro-deposit to your account. Receiving it can take up between a few minutes to 2 business days. Depends if your bank is qualified for receiving instant micro-deposits. 

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

1. Add your bank account details.
2. Verify your bank account using a micro-deposit, once you receive it.

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

A few notes: 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. Failed to verify your account? Here's what to do.
• Verification by a micro-deposit is a one-time process for that bank account.

How to add your bank account with a micro-deposit

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. Create a bill, select a saved one to pay, or make a payment without a bill.
2. Choose Bank Account when asked how you want to pay.

3. Click Continue to allow Plaid to connect to your bank account.

4. When asked how you want to connect your account, choose Manual. Click Continue.

5. Enter your routing number. An ACH routing number is required as Melio doesn’t currently support domestic wire transfers. Click Continue.

6. Enter your account number and confirm it by re-entering it. Click Continue.

7. Enter your full name. Make sure it matches the name on the account. Click Continue.

8. Authorize Plaid to deposit a small amount of money to your account. Click Authorize.

If your bank is qualified for receiving instant micro deposits you’ll get the micro-deposit in a few seconds and verify your account.

Otherwise, it might take between an hour to 2 days to verify the account.

You have the option to get notified by a text message when the amount is deposited. 

1. In Verify via text, decide if you want to be notified by a text message:

• To GET a message- Enter your mobile phone number and click Continue.
• To NOT GET a message- Click Opt out of text message reminder.

• Decided to get a text message? Click Continue to confirm.

• Decided NOT to get a text message? Click Continue to confirm.

2. Complete your payment as usual. 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. Scroll down to Payments & billing: 

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

3. On the right, in the Bank account section click Add this method.

4. Click Continue to allow Plaid to connect to your Melio account.

5. When asked how you want to connect your account, choose Manual. Click Continue. 

6. Enter your routing number. An ACH routing number is required as Melio doesn’t currently support domestic wire transfers. Click Continue.

7. Enter your account number and confirm it by re-entering it. Click Continue.

8. Enter your full name. Make sure it matches the name on the account. Click Continue.

9. Authorize Plaid to deposit a small amount of money to your account. Click Authorize.

If your bank is qualified for receiving instant micro deposits you’ll get the micro-deposit in a few seconds and verify your account.

Otherwise, it might take between an hour to 2 days to verify the account.

You have the option to get notified by a text message when the amount is deposited. 

1. In Verify via text, decide if you want to be notified by a text message:

• To GET a message- Enter your mobile phone number and click Continue.
• To NOT GET a message- Click Opt out of text message reminder.

• Decided to get a text message? Click Continue to confirm.

• Decided NOT to get a text message? Click Continue to confirm.

2. Your bank account is pending to be verified. 

Verifying your bank account

A bank account can be verified instantly or within 2 business days.

Verify the bank account instantly

This option is available to accounts in qualified banks. 

After clicking Authorize, Plaid will deposit a small amount to the account you’re connecting. You’ll be asked to enter the 3-letter code to verify your account.

1. Follow the instructions to find the code, and enter it.

2. Click Continue.

3. You’ve successfully verified your account. Click Continue.

Note: Is your account synced with an accounting software?

If your Melio account is synced with an accounting software, you’ll be asked to select the matching account in your accounting software. 

Select it and click Link accounts to continue. 

Here’s an example for QuickBooks. For Xero it might look a little different.

That’s it! Your bank account is successfully connected to your Melio account. You can use it to pay your vendors. 

Click Done to continue.

Verify the bank account within 2 days

Within 1 hour and up to 2 business days, you’ll receive a very small deposit into the account you wish to connect. There are 4 ways to verify your account:

• SMS text message
• Email
• Settings
• In Pay

SMS text message

Plaid will send a text message to the mobile phone number you added. The message includes a link where you can enter the 3-letter code attached to the micro-deposit amount.

Here’s an example of what the text message looks like: “Plaid: On behalf of Melio, a $0.01 deposit was sent to your account ending in 1234. Verify this deposit here: https://. Then return to Melio to complete your account setup”

To verify the account:

1. Click the link in the text message.
2. Follow the instructions to find the code, and enter it. 
3. Click Continue.

4. You’ve successfully verified your account. Click Continue.

Note: Is your account synced with an accounting software?

If your Melio account is synced with an accounting software, you’ll be asked to select the matching account in your accounting software. 

Select it and click Link accounts to continue. 

Here’s an example for QuickBooks. For Xero it might look a little different.

That’s it! Your bank account is successfully connected to your Melio account. You can use it to pay your vendors. 

Click Done to continue.

Email

Once you get the micro-deposit, you'll also get an email with a link, where you can enter the 3-letter code attached to the micro-deposit amount. The email will be sent from Melio Service and its title will be: “Verify your bank account with Melio”.

To verify your account:

1. In the email, click Verify bank account.
2. Follow the instructions to find the code, and enter it.
3. Click Continue.

4. You’ve successfully verified your account. Click Continue.

Note: Is your account synced with an accounting software?

If your Melio account is synced with an accounting software, you’ll be asked to select the matching account in your accounting software. 

Select it and click Link accounts to continue. 

Here’s an example for QuickBooks. For Xero it might look a little different.

That’s it! Your bank account is successfully connected to your Melio account. You can use it to pay your vendors. 

Click Done to continue.

Settings

Here’s how to verify your account from Settings:

1. Go to Settings.
2. Go to Payment Methods.
3. Click Verify account.

4. Enter the 3-letter code attached to the micro-deposit in your account. 

5. Click Continue.

6. You’ve successfully verified your account. Click Continue.

Note: Is your account synced with an accounting software?

If your Melio account is synced with an accounting software, you’ll be asked to select the matching account in your accounting software. 

Select it and click Link accounts to continue. 

Here’s an example for QuickBooks. For Xero it might look a little different.

That’s it! Your bank account is successfully connected to your Melio account. You can use it to pay your vendors. 

Click Done to continue.

In Pay

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. Find the relevant payment in the Payments tab. 
2. Click View payment.
3. In the payment details, within the note Action required, click Verify account.

4. Enter the 3-letter code attached to the micro-deposit in your account.

5. Click Continue.

6. You’ve successfully verified your account. Click Continue.

Note: Is your account synced with an accounting software?

If your Melio account is synced with an accounting software, you’ll be asked to select the matching account in your accounting software. 

Select it and click Link accounts to continue. 

Here’s an example for QuickBooks. For Xero it might look a little different.

That’s it! Your bank account is successfully connected to your Melio account. You can use it to pay your vendors. 

Click Done to continue.

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.