BackNine's Micro Deposits for EFT Verification

Reid Tattersall

7/13/2021 · 1 min read

BackNine uses a third party (“Synapse Fi”) to process EFT payments to advisors. When a new bank account is added, micro-deposits are sent to verify the bank account.

These micro-deposits are each under $1.00 and may or may not be taken back out of the advisor’s account.

Micro-deposits are not commissions, they are simply a verification tool to verify your bank account for future commissions.

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