Direct Deposit is one of three options you will be offered when you accept an UpTogether Offer or when your share your bank account in the Financials section. Also known as ACH (automated clearing house), Direct Deposit is perhaps the most flexible option available.
If you selected Direct Deposit and you are expecting a payment, the funds will generally be available in 2 to 3 business days. It is possible it will take longer depending on any delays in the transfer.
To set up Direct Deposit, you will need a:
- Checking account number (a savings account cannot be used)
- Bank routing number
If any of the above information is incorrect, there is a chance that the payment will fail. You will need to update your banking information in your "Account Settings" under "Payout Methods" before the transfer can be attempted again. The transfer will be automatic.
Once the transfer is successfully completed, the deposited money can be used just like any other funds in your bank account.