How does bank verification work, and do I have to wait?

operatordirectorLast verified Oct 8, 2026

During Company setup you confirm the bank account payroll is funded from, one of two ways. If you connect your bank through Plaid by signing in to it, you're good to go, with no wait. If you choose two small deposits instead, they arrive in 1 to 3 business days; when they land, click Confirm bank deposits and enter the two amounts.

Where:

Payroll → Organization → 1. Company setup (and Confirm bank deposits if you chose the deposits).

Option 1: Connect through Plaid (fastest)

You sign in to your bank on the secure setup page, and the account is confirmed right away.
Nothing else to do for your bank.

Option 2: Two small deposits

The two deposits take 1 to 3 business days to arrive in your account.
When they land, go back to the Organization page, click Confirm bank deposits, and enter the two amounts exactly as they appear on your bank statement.

You don't have to wait either way

While your bank or business review is being verified, add your people, send their links, and enter pay. See PR-06 and PR-07. Only Approve & Pay waits until verification is complete.

Good to know

Each EIN has its own bank, so with more than one EIN you confirm the bank for each one. See PR-11.
The Payments card on the Organization page shows when you're ready to pay, and lists anything still needed. See PR-12.
Amounts won't verify? Check your bank statement for the two deposits and enter those exact amounts. If it still doesn't work, email info@tourneydirect.com.