How do I validate my bank information from a penny drop?

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.

Must know:

  • 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?

  1. Check your bank statement for a $0.01 deposit from Bambora. You will see an 8-character security code in the descriptor. 
  2. Log in to our Portal.
  3. 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.
Was this article helpful?
0 out of 0 found this helpful