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Bank Account Payment Method Guide and FAQ

Updated

Bank Account Payment Method Guide and FAQ

This article includes Bank Account payment method best practices and instructions for funding your EasyPost Wallet using a Bank Account in our EasyPost Dashboard. _________________________________________________________________________

The most reliable method for funding your EasyPost account is via ACH bank transfers. Bank accounts don't expire, seldom change account numbers and are very rarely stolen (unlike credit card information).  Of note, EasyPost only supports US-based bank accounts.

 

  1. Connect your bank account
  2. Bank account wallet settings: best practices
  3. Is there a processing fee for bank transfers?
  4. How long does a transfer of funds take for bank payment methods?
  5. What if I do not see my bank supported in Plaid?
  6. Account will not connect, what do I do?

 

How to connect your bank account 

  1. Login to your EasyPost Dashboard
  2. Navigate to the Billing Tab by clicking on Account Settings 
  3. Click the Setup Wallet button
    • Alternatively you can click the Add a Secondary Account or Add a Primary Account option if you already have a payment method associated with your account.
    • You may only have two payment methods added to your account at a given time. If you need to add a different payment method in this case, you must first delete one of the existing payment methods using the three dot button on the right of the payment method to delete.
  4. Choose the option to Add a Bank Account
    • Follow the prompts in the secure Plaid-supported portal to login to your bank account using your online banking credential. Some banks will require an additional authentication (SMS or phone call using the number on file with your banking institution).
    • Once connected, your bank will automatically be verified and you can initiate your first transfer of funds (3-5 days processing time once initiated).

 

Best practice for auto-reload wallet preferences when using a bank payment method.

It is highly recommended that you manage your Auto-Reload Wallet settings to compensate for the lengthier processing time of these transfers.

  • Set your auto-funding to trigger when your balance is below an amount that can cover at least 5 days worth your shipping volume. 
    • Example, If you spend $20 per day in EasyPost purchases, then set your balance to reach  $100 dollars (at the lowest) to ensure that you never run out of funds before the transfers complete processing.
  • Set your Amount to at least 10 days worth of funds to be added.
    • Using the same $20 per day example; your fund amount would then be $200. 

 

Is there a processing fee for using banks as a payment method?

No, bank transfers to your wallet are free.

 

How long does it take to process a transfer of funds with a bank payment method?

Bank transfers to your EasyPost Wallet can take 3-5 days to process. 

 

What if I don’t see my bank in the Plaid-supported portal but still want to use a bank method? (Rare)

This is an uncommon scenario, but EasyPost does provide an alternative manual method as a backup option to connect your bank and verify the account.  Note this payment method will be added to your account but not usable until all the steps to manually verify are complete. Follow these steps:

 

  1. Follow steps 1-4 above to add a bank method, but instead of following the prompts in the Plaid portal, exit the portal using the X in the upper right corner and confirm you would like to exit.

  1. In the Set Up a Bank Account form, fill out your account information and details and click Link Account.

  1. The payment method will appear on your account but will be unverified until you can complete the remaining steps.
  2. To verify the account, EasyPost will make two micro-deposit (less than $1.00) transactions to the bank account. Monitor your bank activity over the next few days and once the micro-deposits are received, take note of the amounts of each deposit.
  3. Navigate to your Billing Tab and select the action button on the right of the bank account payment method. 
     
  4. Click the Verify button
  5. In the form, input the two micro-deposit amounts and click Verify
  6. The account is now verified and ready to request your first transfer of funds.

Account Won’t Connect - What Should I Do?

If you have followed the above instructions, and you have received an error message during the authentication process, please contact support and include the error message details.

 

 

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