As a Landlord or a Renter you may run into difficulties while attempting to link a bank account. Below are some common issues our customer’s face when linking a bank account and what to do about them.

Instant Verification

Instant Verification allows you to instantly connect a bank account through a third party service called Plaid. Don’t worry about security, we don’t collect any information regarding your bank account. Plaid is trusted by the largest financial institutions in the world.

Problem: I can’t find my bank when I search for it in Plaid.

Resolution: Plaid supports most banks but not all banks. If you do not see your banking institution when searching in Plaid, it is most likely not supported. In this case you will have to go back and choose Traditional Verification. PNC bank is the largest bank that will not be supported by Plaid

Problem: I am not sure what user name and password Plaid is asking for. I don’t have a Plaid account.

Resolution: Plaid provides a window into a online login to your banking provider. You will enter your online banking credentials that you use for that banking institution.

Problem: I don’t want Rentdrop to have my banking login information.

Resolution: Not to worry, we do not capture any of this information, nor does Plaid. If you are unsure if this is safe, feel free to reach out to your bank. If you still don’t feel comfortable, we understand, you can use Traditional Verification instead.

Problem: It says there was an error when trying to link my account.

Resolution: Plaid is great - but like all of us, they are not perfect. There are times where the connection is not working. In this case, you can either wait and do it later or use Traditional Verification.

Problem: I don’t know my account username and password for my bank.

Resolution: We forget our passwords all the time. If this is the case, go to your banking institution online login and go through their “forgot password” flow.

Problem: It asked to call/text/email me. I am not sure what this means.

Resolution: This is part of your banking 2-factor authentication to prove you are who you say you are. We suggest everyone have 2-factor authentication set up for their bank. Choose the method you wish for them to deliver the unique code. If you chose email, open your email and you will see a unique code you will then enter into the Plaid flow in Rentdrop. This will be the same for Calling and Texting.

Traditional Verification

Traditional Verification allows you to connect any account supported by the ACH network. By entering your Account and Routing Number you can link any account. It will take 2 days for the micro deposit to land in your account to prove that you own the account.

Problem: I entered my Account and Routing Numbers but don’t know what to do next.

Resolution: We will deliver 2 microdeposits into that account, each for less than $0.20. You will need to go to your bank statement and find the exact amount of these transactions. You will then go to your Rentdrop account and click on the homescreen card that says “Finish connecting your bank account” and you will enter those 2 amounts.

Problem: I am not sure which deposit I should put in 1 and which in 2.

Resolution: Bank statements are in order of time. Find the older deposit and put that as deposit amount 1. Put the other as 2.

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