Microdeposits Overview

  • Updated

Microdeposit verification (Microdeposits) enables you 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. Microdeposits leverage the automated clearing house 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. 

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

Microdeposits should be accessed through the MX Platform API. Microdeposits are also integrated into the MXConnect user interface.

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