ACH is a great way to help save on processing fees! You may be wondering, "how does a member setup ACH?" Before we get to the "how to". let's take a look at the difference:
PLAID is an instant verification that occurs by connecting a member's bank online immediately by using a banking online username & password.
Two Step Verification is a manual process where the bank will deposit two micro deposits into a member's account and then enter those on your profile page.
Here are the steps:
From the Member's Online Portal, members have two options for adding their bank account:
PLAID (Instant Verification)
Two Step Verification (Manual Verification)
Add Bank Account with Plaid
Included in your Triib subscription is instant ACH verification via Plaid. Plaid allows members to sign into their online banking and immediately link their account to Triib!
On the profile page, go to Payment Method > Bank Account > Add Bank Account with Plaid
Upon clicking Add Bank Account with Plaid, you'll be asked to select your bank:
Once you select your provider, it'll direct you to your online banking sign in. You'll enter your username and password and then select which account you want to link to your Triib:
After you've entered this information and selected your account, ACH is verified and ready to roll!
Two Step Verification
Enter Name, Account Number, and Routing Number
Two small deposits, typically under $1, will be deposited to the member's bank account within 1 or 2 business days (M-F, non-holidays). The member must look for these deposits to occur, make note of them, and enter them into their profile page.
Their account would then be verified and they can make payments using ACH!