Can I cancel the funding deposit after submitting my application?
Once the funding deposit is authorized and the application is submitted, it cannot be canceled.
What happens if my funding deposit fails?
If the funding transfer is unsuccessful, your account will be restricted to protect against potential risks. In such cases, we may request documentation permitted by law to verify your information and determine next steps. To help avoid delays, please ensure your external account is correctly linked and has sufficient funds before initiating the transfer.
Is my initial deposit placed on hold if my application is approved?
Yes. If you used an external bank account for your initial deposit, the funds will be placed on hold for 5 business days after your application is approved. This hold period allows time for the ACH transfer to fully clear and ensures secure processing.
How long does it take for the funding deposit to process?
ACH transfers typically take 1–3 business days to complete.
Can a business or trust account be used for the initial funding deposit?
No, only personal accounts are eligible for the initial funding deposit.
Can I use Zelle® to fund the new account?
No, Zelle® cannot be used to fund your new account. You must link an external bank account during the application to initiate an ACH transfer.