Bank verification is the process that ensures the banking information entered into Rotessa is accurate and that the customer is the owner of the bank account. Verifying your customer's banking information is a requirement when collecting an online authorization or PAD agreement.
Online verification
In Rotessa, there are two ways to collect bank verification online: instant bank verification or microdeposit verification.
Instant Bank Verification is an instant pass/fail verification method that has less friction for you and your customer. Customers can use their online banking credentials to verify their identity and provide the bank information required for the authorization form. If the customer isn't able to verify their banking information through Instant Bank Verification they will be redirected to a microdeposit verification.
This service is provided by a third party, and therefore will have a one-time $2 service charge per successful customer verification that you will see on your next Rotessa invoice.
Microdeposit verification sends your customer two very small deposits and requests them to confirm the two amounts in a verification email. This process isn't instant as the deposits take one to two business days to appear in the customer's account.
Offline verification
If online bank verification is not for you, you can also verify your customer's banking information offline or manually. This can be done by collecting a void cheque or bank statement from your customer and verifying that the banking information entered into Rotessa is correctly entered.
If you see this message when you are attempting to schedule a transaction, it means that the customer has not yet completed any form of online bank verification. This will appear even if you have completed offline bank verification, if you haven't sent the customer any online verification requests, or if you have sent the customer an online verification request and the customer has either failed the verification or has yet to complete it.
This message reminds you to only proceed if the customer's bank information has been verified.
