Overview
As part of our new enhanced security and partnership with the payment processor, Stripe, you will need to verify your bank accounts in order to make ACH payments to your property manager. 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, though we'll be focusing on one of them here.
Micro/Trial Deposits – In this two-step process, the organization uses the consumer's routing and account number to make a small deposit into the tenant's account. The tenant then confirms the deposit amounts with the organization in a followup email that they'll receive.
If you tried verifying your bank account using the Instant Verification method of verifying the bank account by logging into your banking portal and it didn't work, we recommend using the Manual Verification method.
The Steps
Before making a payment, you will need 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 manually verify your bank account while in the Make a Payment wizard, select Bank Account, enter your name, address, and email address.
A new popup will appear. To manually verify, click the manually verify link under the Agree button.
On the Verify using micro-deposits popup, enter your Institution Number, Transit Number, and Account Number. Then click Submit to continue.
Once you enter your bank account details, you will see a popup that states "Verify with micro-deposits" with instructions on what to do when you do receive the micro-deposits. Click Confirm to continue.
You will need to agree to a Pre-authorized Debit Agreement. Click Agree.
You will see a message appear that your account details are being verified with the following message:
Click Continue to exit out of the message.
You'll now see that your bank is pending verification.
You can not move past this part now until you receive your Micro-deposits. You can go ahead and click Back and then Cancel, or exit out of your Tenant Portal.
Now, you just need to wait.
Stripe (the payment processor) will send a small micro-deposit of $0.01 to your bank account. Some may see it instantly, others may need to wait (1-2 days). Please make sure you check your bank account within two days because these micro-deposit codes expire after 10 days. The deposit will appear on your bank statement and look similar to the image below. The transaction would be labeled something like this: "ACH Deposit SMXXXX - DoorLoop - ACCTVERIFY Automated Deposit Transactions"
The most important part of this is the SMXXXX portion. XXXX will be a combination of either letters and/or numbers so it will look something like SMKTH6 for instance.
Once you get the verification code, go back to your tenant portal and try to make a payment again, you should see that the bank account you entered is saved with a new Verify Your Account button.
When you click the Verify Your Account link, you'll be taken to a page that looks like the one below. Enter the code you received in your $0.01 micro-deposit transaction.
Click Verify. If the code is correct, you will see the message below. Your bank account will now be verified.
Once you complete the verification process, you'll be able to complete your payment on DoorLoop. Go back to your tenant portal and click Make a Payment again to complete the payment process.
Troubleshooting
I didn't receive the micro-deposit or the verification email.
The micro-deposit can take 1-2 days to enter your bank account. However, if you don't see it, please contact your property manager for further instructions. It is possible too that the wrong information was inputted which could be why the micro-deposit didn't appear.
You can also try to manually verify your bank account again to see if they will send the micro-deposit to you again for verification.
What if I got the micro-deposit in my bank account but I didn't get the verification email?
If this is the case, you can check your tenant portal. Click Make a Payment and reach the Payment Method step. There should now be a Verify Your Account button there. Use this to verify.
What if I got the verification email but don't see the micro-deposit?
If you got the verification email, you can click the Verify Deposit link from it which will take you to the verification page. From there, you'll see a link that reads "Send Another Deposit". Click that and Stripe will attempt to send you another micro-deposit, two this time. Again wait another 1-2 days and check your bank account. You'll see two deposits of different amounts. You'll need these amounts to verify the account with the next verification email you see. You can also chat with our support team. We can help you verify it on our end or send you the verification link directly.