Linking a bank account with Plaid or Stripe is entirely optional. Buyers can choose to pay by wire transfer, and we'll provide instructions they can give to their bank. Sellers can choose to receive their payout by check, which will be made out to the vehicle's owner and mailed when they hand over their keys.
How do I know if my bank supports instant verification?
Once you've successfully linked your bank account, you'll have access to view the name of your financial institution and the last four digits of your account number, followed by an icon. Each icon shown below has a unique significance, so each party can easily understand the timing of their payment for a transaction.
Lightning Bolt Icon
Buyers, the lightning bolt icon will appear when your funds are instantly verifiable! This means, you can typically expect the transaction to be confirmed within just 30 minutes during our regular business hours.
Sellers, the lightning bolt icon displays when your bank supports real-time payments (RTP). Upon the release of the vehicle to the buyer and the submission of the necessary documentation to KeySavvy for the transfer of ownership, it is possible that your financial institution will expedite the deposit of funds into your account, potentially depositing the funds sooner than our one business day guarantee.
Calendar Icon
Buyers, the calendar icon will appear when your funds are not immediately verifiable. This indicates that your funds will usually be verified within one business day.
Sellers, the calendar icon displays when your bank only supports ACH deposits. This indicates that the funds will be credited to your account within one business day after the vehicle has been released to the buyer and we have received all necessary documentation for the transfer of ownership to the buyer.
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When do seller's get paid?