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Adding Bank Information
Adding Bank Information

Linking your bank to Woveo Wallet enables secure, automated transactions for seamless participation in group savings and builds community trust.

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Written by Woveo Support
Updated over 2 months ago

Linking your Canadian bank account to your Woveo Wallet is a crucial step in creating a seamless, secure experience within your Woveo community. By connecting your account, you enable automated transactions that make it easier to participate fully in group savings and credit activities. This setup not only simplifies your financial commitments but also builds confidence and accountability across the community.

Benefits of Automated Transactions

1. Enhanced Community Confidence

Connecting your bank account verifies your identity, assuring the community that each member is a committed participant. This verification strengthens the trust within your group, allowing everyone to engage with confidence.

2. Scheduled Group Contributions

Once linked, only your group contributions will be deducted, strictly following the schedule and terms of your Woveo credit and savings groups. This ensures a straightforward, reliable approach to group transactions without unexpected deductions.

3. Seamless Interaction with Woveo Wallet

Linking your account allows you to interact and transact within the Woveo community directly through your Woveo Wallet, which is designed specifically to enhance your financial security and simplify your path toward reaching financial goals.

Security Measures for Linking Your Bank Account

Woveo takes every precaution to protect your information and ensure the safe connection of your Canadian bank account. Through advanced encryption, secure authentication, and compliance with Canadian financial standards, Woveo maintains the integrity of all linked accounts and upholds strict confidentiality to protect your data. This secure setup allows you to focus on building financial security with peace of mind.

Step 1: Navigate to the Onboarding Section

  • From the application's home screen, navigate to the onboarding bar that should reflect the completed first steps.

  • Select "Connect Your Bank Account."

Step 2: Start the Bank Connection Process

  • You will be prompted to enter the VoPay section to add your account.

  • First, press "Continue."

Step 3: Search for Your Bank

  • Search for your bank and click on the icon.

  • Accept and continue the PAD agreement that authorizes Woveo to connect your bank account.

Step 4: Select Your Banking Method

  • You will have two options to connect your account:

    1. Online Banking: Enter your bank login credentials (username and password) to connect any of your accounts.

    2. Manual Verification: Enter your financial, branch, and account numbers.

Step 5: Follow Bank-Specific Steps

  • Follow the usual procedures as prompted by your bank. This may include additional steps like SMS verification or in-app notifications from your banking app.

Step 6: Wait for Connection Confirmation

  • Wait until the connection is established. A success screen will be displayed once the process is complete.

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