[ARFTC]

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!

[NoBigDeal]

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!

If they don't trust us, the people giving them unsecured funding, why should we should we trust them with our money?
What's the merchant's FICO? I'm willing to bet it's pretty low, and the deal is fraud

[CreditGuy]

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.

[ARFTC]

Hi Credit Guy,

In addition to the initial verification, would the bank account verification be on-going (weekly / monthly)? I appreciate your insight. Thanks!

[Michael I]

Hi Credit Guy,

In addition to the initial verification, would the bank account verification be on-going (weekly / monthly)? I appreciate your insight. Thanks!

see if his bank has a view only accesses or do one of those above and let him switch his password right after . inspire confidence in your client let them know who you are ......

[NoBigDeal]

Hi Credit Guy,

In addition to the initial verification, would the bank account verification be on-going (weekly / monthly)? I appreciate your insight. Thanks!

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

[CreditGuy]

Hi Credit Guy,

In addition to the initial verification, would the bank account verification be on-going (weekly / monthly)? I appreciate your insight. Thanks!

It depends on the lender. The issue here is more if they will do *any* kind of bank account verification. If you don't know the answer to that, you need to be having a conversation ASAP.

[MCNetwork]

Some lenders might ask for a monthly bank statement in lieu of user login information.

[r mirlis]

Some lenders might ask for a monthly bank statement in lieu of user login information.

Not Likely. More likely to do a 3 way call with the bank.

[Lendini]

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.

[ARFTC]

see if his bank has a view only accesses or do one of those above and let him switch his password right after . inspire confidence in your client let them know who you are ......

Hi Michael, The bank does offer a "view only" option and that takes care of the issue. I appreciate your suggestion and everyone's insight. That's why we love Daily Funder!

Thanks,
Tony

[Michael I]

Hi Michael, The bank does offer a "view only" option and that takes care of the issue. I appreciate your suggestion and everyone's insight. That's why we love Daily Funder!

Thanks,
Tony

my pleasure . good luck bro