PrizePool uses Plaid to securely link to your bank account. In the case that your bank doesn't support Plaid's instant auth functionality, Automated Micro-deposits can be used to authenticate any bank account in the US.
The Automated Micro-deposits authentication flow is supported for ~3,200 financial institutions in the US only. Plaid will make a single micro-deposit and then automatically verify it within one to two business days.
How it works:
- If your bank doesn't support instant auth but supports Automated Micro Deposits, you'll be asked to enter in your Full Name and pick which type of bank account you have.
- Once you enter your name and pick which type of bank account, Plaid will make two deposits that post within one business day (using Same Day ACH)
- Once the deposits reach your account, Plaid will automatically verify the deposited amounts within one business day.
- After verifying the deposits successfully, you can proceed to deposit and enter into the drawing!