Bank accounts

Your users can link their bank account to their Moov account to participate in transfers.

Bank accounts can be linked using micro-deposit verification or with Plaid Link if you have an existing relationship with Plaid.

Micro-deposit verification

If you request micro-deposits before 4PM ET, they will appear that same day. If you request micro-deposits any time after 4PM ET, they will appear the next banking day.

You can send funds to a bank account that hasn’t been verified, but in order to collect funds from that account, its ownership must be verified. You can trigger micro-deposit verification of any bank account immediately after you’ve captured that bank account’s details.

Once initiated, Moov will send two small amounts to the bank account via ACH within one to two business days. Once the owner of the account sees the transactions in their bank account, they must enter the two unique values in your app before that bank account can be used.

Once the bank account is verified, Moov will automatically generate new payment methods that allow the bank account to be debited.

If after sending micro-deposits Moov receives an ACH return from the financial institution, the bank account’s status will change to errored.

Payment methods

Moov will automatically create payment methods for every rail a bank account is eligible to be used with.

Payment method Description Capability
ach-credit-standard Can receive credits via standard ACH transfers
ach-credit-same-day Can receive credits via Same-day ACH transfers
ach-debit-fund Can debit account for funding a transfer send-funds
ach-debit-collect Can debit account to collect payment collect-funds
rtp-credit Can receive credits via RTP® transfers
RTP® is not yet generally available. Contact Moov for more information.