Micro-deposits Overview

Micro-deposit verification (Micro-deposits) is a service within the MXapi framework that enables an organization to verify that an end user has access to a given account and that the information supplied by the end user for that account is valid. Micro-deposits leverage the automated clearing house (ACH) system to make two small deposits into a specified account. The end user then verifies the exact amounts of each deposit. Once verified, you can confidently transfer funds into and out of that account. 

Micro-deposits may be used to facilitate any number of use cases, including transfers, underwriting, fraud and risk mitigation, cybersecurity, regulatory compliance, and more. 

Micro-deposits should be accessed through the MX Platform API. However, it is also available in the Nexus API for legacy clients or non-standard integration situations. Micro-deposits are also integrated into the Connect widget user interface.

Micro-deposits are charged on a per-request basis. 

Dependencies and Limitations

1. Micro-deposits are not available for all institutions. 
2. Micro-deposits are used only for institutions that do not support MX’s Instant Account Verification (IAV).
3. Micro-deposits require Instant Account Verification (IAV).