Understanding Bank Accounts as a Payment Method
There are two ways to add a bank account as a payment method:
Instant Verification: Instant Verification is available for all supported bank institutions via Stripe. With this method, your bank account is verified instantly by logging in with your bank credentials, eliminating the need to wait for micro deposit verification. This quick and easy process allows you to start funding your prepaid account immediately.
Manual Verification: You can also opt for manual verification of your bank account if your bank is not one of the support institution via Stripe. This process involves confirming your account through a series of micro deposits or a 6-character code, which typically takes 24-48 hours.
After your bank account is verified, transactions may take 5 to 6 business days for the bank to process the funds. There is no transaction fee. Once the transaction is complete, the funds will be available for your employees to use.
Funding Limits for Bank Accounts:
Your first deposit through your bank account will be limited to $1000.
Once that clears (about 5-6 business days), the next deposit is limited to $2,500,
After your first two deposits, the max deposit amount becomes $50,000.
We will notify you if you enter over the deposit limit when attempting to add these funds.
Adding a Bank Account as a Payment Method
If you haven't added a payment method yet, click the “+ Payment Method” button in the upper right corner of the Funding Page.
If you've already added a payment method, click the “View All” button in the upper right corner, then select the “+ New Payment Method” button in the Payment Method modal.
To add a Bank Account as a Payment Method, please do the following:
Start by filling out the form to add a Bank Account. You’ll start by adding your email address and name.
Next, if you would like to instantly verify your bank account, you can search for your bank institution in the search bar. Please note, if you do not see your bank account you can enter bank details manually instead.
Once you have selected your bank account, you will begin the instant verification process. First, you will select the “Agree and Continue” button.
Next, you will be prompted to login to your bank institution with your credentials.
Once you have successfully authenticated, you can then select which account you would like to connect as a payment method. Once you have selected your account, click on the “Connect Account” button.
You should then see a “Success” screen. Select the "Back to Motivosity, Inc." button.
You can finish adding your payment method by adding a display name and adding an email to send receipts to. Once you are ready, select "Submit".
If you choose to add your bank account manually, please select the “Enter bank details manually instead” link.
Next, you'll enter your Routing Number and Account Number. Please be sure to confirm your account number. Once you're ready, select "Submit".
You will then see a screen letting you know next steps in verifying your account. Select "Back to Motivosity, Inc." and finish adding your payment method.
Please Note: We use Stripe to help with the transfer of funds to and from Motivosity. This usually works well, but occasionally banks will attempt to block some of these transfers of money. Because of this we recommend that you contact your bank and ask them to whitelist these two IDs:
1800948598 - Stripe Payments Company
4270465600 - Stripe Payments Company
Micro Deposits/Verifying Your Bank Account
When you first add a bank account as a payment method you will either be sent two micro-deposits to your account or a single $0.01 USD micro deposit with a unique, 6-digit descriptor_code that starts with SM.
Verifying Through Two Micro Deposits:
In your statement, the two micro-deposits will not post that they are from Motivosity. So make sure you are looking just for the amounts. They should both be under $1.
When entering the micro-deposits into Motivosity, you will want to enter in the deposits with no 0's or dots (.). For example if the deposit is $0.43 and $0.11 you will want to enter it into Motivosity as 43 and 11. To do this you'll go to 'Setup' > Funding' > under Payment Methods select “View All” and click the 'Verify' button next to the payment method you added.
Verifying Through Descriptor Code:
If you have been provided a 6-character descriptor code, please enter the 6-character code starting with "SM" from the $0.01 USD micro-deposit made by Motivosity into your account.
Editing, Deleting, and Default Payment Methods
To view your payment methods you’ve added, select the “View All” button in the upper right corner from the Funding Page.
From the Payment Method modal, you can select the three dots on the right side of any payment method and select to edit or delete a payment method.
You will also have the option to make a payment method your Default Payment Method.
By making a payment method default, this will be the payment method that is pre-selected when depositing funds or turning on Auto Funding.
Please Note: payment methods may be changed from the default when depositing funds if needed.