How does bank account verification work? | Castle

How does bank account verification work?

There are two types of bank account verification: microdeposit verification, and identify verification.

Microdeposit Verification

We send two small deposits (both less than $1) to your bank account. You verify those amounts to confirm that you have access to the bank account that you linked. The deposits should have the word “Castle” in the title.

Owners and tenants must both complete microdeposit verification.

Identity Verification

Occasionally, our payments processor needs to know additional information about you before they can complete identity verification. In such cases, we will reach out to you for photo ID, like a license or a passport.

Owners and contractors must complete identity verification.