How to Add and Delete bank accounts?

Managing bank accounts for ACH reimbursements is straightforward with ITILITE, allowing you to easily update or replace your banking details whenever needed. This guide will walk you through the process of deleting an existing bank account and adding a new one, ensuring a smooth transition for your reimbursements.

Table of Contents

• Managing Your Bank Account
• Deleting an Existing Bank Account
• Adding a New Bank Account
• Understanding Bank Verification Statuses
• Pro-Tips & Guardrails
• Verification & FAQs

Managing Your Bank Account

To manage your bank account for ACH reimbursements, go to Individual → Cards & Bank → Bank page within your ITILITE account. This is where you can view your currently linked bank account, initiate a deletion, or add new banking details. The platform is designed to make these updates secure and efficient. This central hub ensures all your financial details are easily accessible and manageable.

Adding a New Bank Account

After successfully deleting an old bank account, you can easily add a new one from the same Individual → Cards & Bank → Bank page. You'll be prompted to enter essential details for your new bank account to ensure accurate processing of reimbursements.

You will need to provide the following information:

• Routing Number: This identifies your bank.
• Account Number: Your specific account identifier.
• Account Type: Specify if it's a checking or savings account.
• Account Name: The name associated with the bank account.

Once these details are entered, ITILITE initiates a verification process to secure your account.

Instant Verification

The system will first attempt Instant Verification. If your bank is recognized, you can verify your account by securely entering your online banking credentials (User ID and Password/PIN). This method offers a quick way to link your account. You have a maximum of two attempts for Instant Verification.

Should both Instant Verification attempts be unsuccessful, the system automatically transitions to Micro-Deposit Verification to ensure your account can still be linked.

Micro-Deposit Verification

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Understanding Bank Verification Statuses

As your bank account moves through the verification process, you'll see various status messages on the ITILITE platform, keeping you informed every step of the way. These messages help you understand what action is needed or what to expect next.

Here are the common statuses you might encounter:

• Bank Verification in Progress: Your bank details are currently being verified with our banking partner, and micro-deposits will be initiated shortly.
• Micro Deposits Initiated: We've sent two small deposits (each less than $0.10) to your bank account. Expect these credits within 1–3 business days to proceed with verification.
• Verify Micro Deposits for Approval: It's time to complete the final step! Please verify the micro-deposits in your bank account to finalize the verification process.
• Retry Verification (Failed): You have exhausted the allowed three attempts to verify the micro-deposits. You'll need to delete the current bank details and start a new verification process.

Deleting an Existing Bank Account

If you need to remove a bank account, perhaps to replace it with a new one or simply to delink it, ITILITE provides a clear process. Once you're on the Individual → Cards & Bank → Bank page, you'll find an option to delete your existing bank account.

Upon selecting the delete option, a confirmation popup will appear, asking you to verify your decision. Once confirmed, the bank account will be promptly removed from your ACH profile, and you will receive an email notification confirming the removal for your records.

Pro-Tips & Guardrails

Verification & FAQs

When you successfully delete a bank account, you'll receive an email confirmation. For adding a new account, success is indicated by a toast message like 'Bank account added successfully' and the appearance of a new Business Bank Account card on the page, showing its current verification status (e.g., 'Verification pending' or 'VERIFIED').