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Adding a Bank Account

You can add a business bank account to your PEX account in order to transfer money between the two accounts. After adding the bank account information, you will need to verify access to the bank account, either by using Instant Account Verification, or by using Minideposit Verification.

Adding a Bank Account using Instant Account Verification

  1. Click the "Transfers" tab on the Administrator Site
  2. Click "Add external account"
  3. Download the ACH Authorization form by clicking the green button titled "Download form"
  4. Write the name of the business on the Depositor Name as shown on Bank Records line, and PEX account
  5. Attach a blank VOIDED Check to the form. If you are unable to attach a VOIDED Check, complete the "Bank Reference Authorization Verification" section at the bottom
  6. Have the form signed and dated by the person whose signature is on record at your bank (no electronic signatures)
  7. Upload the completed form
  8. Click "Agree and Continue" to agree to the Online Validation Terms
  9. Choose your bank from the list of available banks. While we support bank account authentication for thousands of financial institutions, including many of the top banks in the U.S. (for example, Chase, Citibank, Wells Fargo, US Bank, Bank of America, and more), your bank may not be listed. In this case, you will need to use Minideposit Verification
  10. Enter your online banking credentials (e.g. username and password)
  11. Click "continue"
  12. You should now see your newly added bank account in the list of External Bank Accounts

Note: in some cases, we may be unable to instantly verify your account. In these cases, your account will show as "pending" and should be activated within 24 hours.

Adding a Bank Account using Minideposit Verification

  1. Click the "Transfers" tab on the Administrator Site
  2. Click "Add external account"
  3. Download the ACH Authorization form by clicking the green button titled "Download form"
  4. Write the name of the business on the Depositor Name as shown on Bank Records line, and PEX account
  5. Attach a blank VOIDED Check to the form. If you are unable to attach a VOIDED Check, complete the "Bank Reference Authorization Verification" section at the bottom
  6. Have the form signed and dated by the person whose signature is on record at your bank (no electronic signatures)
  7. Upload the completed form
  8. We will email you a confirmation of set up and/or update within 24 hours
  9. PEX will make two small deposits to your bank account in the next 2 to 3 business days. Check your bank account for these deposits.
  10. Return to the "Transfers" tab and enter the values of the two microdeposits
  11. Click "Submit"
  12. You should now see your newly added bank account in the list of External Bank Accounts

Once you have set up your bank account, you can initiate transfers from both the admin website and the PEX mobile app (for iOS or Android). A transfer can be one time, or setup as a recurring transfer. Please see "How to Fund From Admin Site"

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