Results 1 to 12 of 12
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07-27-2016, 11:00 AM #1
- Join Date
- Jul 2015
- Location
- Michigan
- Posts
- 36
ACH MCA W/O Customer's User Name & Password
Hello,
Anyone doing ACH MCAs without requiring the customer to surrender their banking user name / password. I have a client in the transportation business that does not accept CC (so a split is not applicable). They will not provide their banking user name / password (trust issue).
If you can help, please let me know.
Thanks!
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07-27-2016, 11:02 AM #2
- Join Date
- Mar 2016
- Posts
- 657
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07-27-2016, 11:04 AM #3
- Join Date
- Sep 2014
- Posts
- 430
Will they go through a bank account verification via other means (bank letter, screen share, Finicity/Plaid/Yodlee, conf call with banker)? If the answer is yes, you have tons of options. If the answer if no, run away as fast as you can.
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07-27-2016, 11:17 AM #4
- Join Date
- Jul 2015
- Location
- Michigan
- Posts
- 36
Hi Credit Guy,
In addition to the initial verification, would the bank account verification be on-going (weekly / monthly)? I appreciate your insight. Thanks!
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07-27-2016, 11:25 AM #5
- Join Date
- Jun 2015
- Posts
- 3,322
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07-27-2016, 11:58 AM #6
- Join Date
- Mar 2016
- Posts
- 657
Decision Logic is a very good option for merchant's who are scared. Safe, secure, and fast
http://www.decisionlogic.com/ServiceInfo.aspx
Find out if the funder your using allows Decision Logic for Bank Verification purposes
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07-27-2016, 12:00 PM #7
- Join Date
- Sep 2014
- Posts
- 430
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07-27-2016, 12:23 PM #8
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
Some lenders might ask for a monthly bank statement in lieu of user login information.
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07-27-2016, 12:34 PM #9
- Join Date
- Jan 2016
- Posts
- 12
--
Reuven Mirlis
President & CEO
RDM Capital Funding
777 Passaic Ave, Suite 375
Clifton, NJ 07012
Phone: 973-747-9846
Fax: 877-837-6080
Reuven@RDMCapitalFunding.com
www.RDMCapitalFunding.com
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07-27-2016, 12:39 PM #10
Lendini will gladly look at the Merchant for you! But we do require bank login in some form, as do most Lenders. We must be able to prove that this merchant is the legitimate owner of the Bank Account where we are to deposit his funds. As mentioned above there are a variety of ways we can go about the process i.e. We do a Join.Me ScreenShare with the Merchant while he logs into his bank account, it takes approximately 5 minutes, another option is Decision Logic and using their secure platform that extracts bank information and delivers it to our underwriters. Final option we get on a 3-way call with the Merchants Bank where we verify vital information about the account and merchant, along with balances and history.
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07-27-2016, 02:54 PM #11
- Join Date
- Jul 2015
- Location
- Michigan
- Posts
- 36
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07-27-2016, 03:08 PM #12
- Join Date
- Jun 2015
- Posts
- 3,322
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