(CA) Verify your company bank account

Important Note: You cannot process payroll until your account has been verified. Please allow at least seven (7) business days before your first payroll to setup and verify your bank account. 

1. Navigate to the Banking > Account verification tab. 
2. Bank account verification in Wagepoint is a 2-step process. The first step involves validating your account via a micro-deposit and the second step involves verifying your identity and bank account details using Yodlee, an FFIEC supervised technology service provider.
3. Micro-deposit – after you save your bank details, we send a small amount to your bank account. It takes a minimum of two (2) business days for the micro-deposit amount to show up in your company’s bank account. Note: if the micro-deposit is entered incorrectly an email will need to be sent to [e-mail] to get this step unlocked.
4. Once you have the micro-deposit amount, navigate to the Banking Account verification tab and enter the micro-deposit amount, without the dollar ($) symbol.
5. Click “Complete validation.” You will now be able to proceed to the second step of verifying your account using manual verification.
6. Sign the manual verification form (English or French) and send it to your bank. Your bank will then reach out to Wagepoint.
7. Please allow 2 - 3 business days for our Risk & Compliance department to review results of the verification checks. 
8. Once your account and identity has been verified, you will receive an email confirmation that the verification has been completed successfully. 

Note: For an existing account in good standing, your account will be approved after you enter the micro-deposit amount. New clients must follow the steps above to complete the micro-deposit and manual verification.