As a way to verify your bank details when we set up your Bambora account, we’ll deposit $0.01 into your bank account. Validating your bank information will allow us to settle funds to you and charge you for your fees.
- The penny drop bank verification only applies to merchant accounts that are fully managed by Bambora.
How do I validate my bank information from a penny drop?
- Check your bank statement for a $0.01 deposit from Bambora. You will see an 8-character security code in the descriptor.
- Log in to our Portal.
- Enter the security code in the prompt and hit ‘Verify’.
Good to know:
- The penny will be deposited within 1-3 business days of the account being set up.
- You’ll only receive your settlement once your bank account information is validated.
- If you see the penny transaction, but without an 8-character security code, please check a hardcopy or PDF version of your bank statement. If you still don’t see it, you may have to wait one business day for it to appear.
- If you don’t see your penny drop after waiting three business days from account setup, please contact Bambora Customer Care.