Overview
As part of our new enhanced security and partnership with the payment processor, Stripe, you will need to verify your bank accounts to make ACH payments for your rent. This is in accordance with the NACHA Rules, and we do not allow you to process ACH Direct Debit payments unless they have been authorized by the owner of the bank account.
Several methods are available to comply with the new rule. We will be highlighting the instance verification method here.
Financial Institution Credentials – Consumers select and authenticate with their financial institution through the organization's portal to verify they can access the account
The fastest method is to log into your financial institution's online banking site and verify through there.
Note: Instantly verifying your bank account may not work for all banks. If this does not work for you, we suggest using the manual verification process. Read more about how to manually verify your bank account here: How to Manually Verify Your Bank Account on the Tenant Portal.
The Steps
Before making a payment, it will be necessary to enter a valid bank in order to make ACH payments from your bank. Note that during the process of verification, no payments will be taken from you or processed. The instructions below take place in Step 3 of Making a Payment.
To instantly verify your bank account while in the Make a Payment wizard, select Bank Account, enter your name, address, and email.
Then, search for your bank. Once you find your bank account, click it. You will need to log into your online banking portal to verify your account with Stripe.
A new popup will appear where you'll need to agree to let DoorLoop and Stripe to connect to your financial institution. Click Agree and Continue.
Next you will need to Log in to your Bank's online portal. Click Continue.
You'll be taken outside of DoorLoop to your bank's online portal. You will need to log into your financial institution with your login credentials. We can't show screenshots of the process here as it differs from bank to bank. After you log in, you'll be redirected to choose your bank account. Select your account and then click Connect Account.
After a few moments, you should see a confirmation that your account was connected. You can now click Continue with DoorLoop.
You will be redirected back to the Payment Method screen to continue through the rest of the payment process.
Note: You may receive a confirmation email from Stripe when you add your payment method. This authorizes Stripe and your property manager to receive payments from you. They will not automatically debit you unless you set up an auto-pay.
Why do I need to verify my bank account?
Merchant processors are required by law to verify a person's ACH information (bank account) as part of their antifraud efforts and initiatives. This is a rule from the National Automated Clearing House (Nacha), which requires ACH originators of web debit entries to use a "commercially reasonable fraudulent transaction detection system" to screen web debits for fraud. The new rule supplements that screening requirement, making it explicit that "account validation" be part of that detection system.
For a more detailed explanation of why this is mandatory, refer to the official NACHA documents here.