Bank Verification
Confirming your business bank account — often via a read-only connection like Plaid — so a funder can see cash flow and fund you.
Bank verification is the step where a funder confirms your business bank account and reviews its activity. Most modern funders do this through a secure, read-only connection (such as Plaid) that lets the desk see deposits and balances without you emailing months of PDF statements or sharing your online-banking password.
It serves two jobs at once. First, it powers cash flow underwriting — the connection is how the desk reads your real deposit pattern for bank statement underwriting, which is often the fastest path to a decision. Second, it confirms the account that will receive the disbursement and be debited for the ACH remittance.
Because the connection is read-only, the funder can view activity but cannot move money through it beyond the ACH terms you authorize separately. Connect the actual business operating account (not a personal one), make sure it matches your EIN and legal name, and you remove one of the most common sources of funding delay.
Frequently asked
Is bank verification safe?
Read-only connections like Plaid let a funder view account activity without giving them the ability to move money outside the ACH terms you separately authorize, and without sharing your banking password.
Why do I need to connect my bank?
It powers cash-flow underwriting by showing your real deposit pattern, and it confirms the account for both disbursement and the scheduled remittance. It is usually the fastest path to a decision.
Do I have to share my online banking password?
No. Secure connections authenticate through the provider rather than handing your credentials to the funder, and the access is read-only.
Related terms
Evaluating a business by reading its bank statements — deposits, balances, and account behavior — rather than relying on credit alone.
An approval approach that weighs your real deposit activity and cash flow over the owner’s credit score.
A repayment pulled automatically from your business bank account through the ACH network on a set schedule.
A federal tax ID the IRS issues to a business — used to verify identity and keep business finances separate from personal.
A bank event when an account lacks the money to cover a transaction, triggering a returned payment and a fee.
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