The simplest and most secure way to connect a bank account is using Plaid. Detailed instructions on how to do so can be found in our help center article Connecting bank accounts and making payments.
If your institution is not supported by Plaid, you have the option of linking it manually. This involves providing Arch with your account number details directly.
How to manually link a bank account
Click on Settings in the left side toolbar
Navigate to "Manage Bank Accounts"
Select Connect bank account
Once the Plaid modal opens, simply exit out of it.
Upon unsuccessfully exiting the Plaid-based flow you'll be presented with an option. Click "Manually Link Bank Account"
Enter your bank account details
Once you've connected the account using manual details, it's immediately eligible for loan disbursements.
Verifying the bank using micro-deposits
In order to make the bank account eligible for Autopay and one-time payments triggered from the dashboard, Arch needs to verify ownership through our payments processor. Once you've connected the bank account following the instructions below, our payments processor with send two small (less than $0.10) ACH deposits to the account. It typically takes 1-2 business days for these to arrive.
When you see these two deposits in your bank portal, come back to the Arch dashboard and hit the "Verify" on the right for the corresponding item in your list of bank accounts. You'll be prompted to enter the two amounts. Once completed, the account will get marked as "Verified". Make sure to enter the right amounts. If you fail your verification attempts, you'll need to remove the account and wait 48 hours before you can try again.
Common questions
Are the micro-deposits required for disbursements?
No. Arch can disburse loans without the micro deposit verification. In order to pull from your account (either via AutoPay or one time payments), the verification needs to be completed.
How long does it take for the micro deposits to arrive?
Typically you'll see these deposits in your dashboard within 1-2 business days. Arch will send a reminder email to you once they're expected to have arrived.
Is this supported for business accounts?
Yes. This option works for both personal and business bank accounts. As always, the bank account must belong to the same business or entity that has been onboarded to Arch.