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Add a Stripe Payment Account via Micro-deposits

add payment account via microdeposits, add bank via microdeposits, micro-deposits bank setup, add bank using account and routing numbers for rent collection

Written by Danny Hehir

Need to collect rent but prefer to use your account and routing numbers?

No worries! You can securely add your payment account using your account and routing numbers in RentRedi. This option uses micro-deposit verification, allowing you to verify ownership of your bank account without logging in through your bank.

Follow the steps below to add and verify your payment account using micro-deposits.

Access your Payment Accounts dashboard

  1. From your RentRedi dashboard, click the Expand Sidebar » button.

  2. Click Payments, then select Payment Accounts.

Getting Started

  1. In your Payment Accounts dashboard, click Add Account.

  2. If you already have an existing account that you would like to copy the setup from, choose Use Existing Payment Account as a Template.

  3. Or, select Create a Payment Account from Scratch to create a fresh account.

Enter Bank Info

  1. Enter your payment account name.

  2. Click Connect Bank Account, then find and select your bank.

  3. Click Manually verify instead at the bottom.

  4. Enter your Account and Routing numbers.

  5. Click Submit.

  6. (Optional): Save your account with Link

    1. Click Finish without saving — skip saving your account with Link.

  7. Click Done.

Important: After submitting your account and routing numbers, it may take 1–2 business days for the micro-deposits to appear in the bank account you entered during setup.

You'll also receive an email from Stripe with instructions for verifying your account. Once the micro-deposits arrive, you can either follow the verification link in the Stripe email or return to your Payment Accounts page in RentRedi, open the draft payment account, and enter the micro-deposit details to complete the verification process.

You can click Save Changes in the meantime to navigate to your dashboard while waiting for the micro-deposits.

Verify Your Account

Once the micro-deposits arrive, review your bank account activity and look for a statement description containing a code that begins with "SM".

You can then verify your account using the methods below.

Option 1: Verify Through Email

  1. Open the verification email sent by Stripe.

    1. Subject Line: Verify your bank account for RentRedi

  2. Follow the instructions provided in the email.

  3. Enter the micro-deposit verification code when prompted.

  4. After verifying successfully, you can return to RentRedi and continue the setup to add your account!

Option 2: Verify Through RentRedi

  1. Locate the draft payment account.

  2. Click Continue to verify your account.

  3. Enter the verification code from your bank statement that begins with "SM", then click Verify.

  4. Once verified, click Save & Continue to finish the setup.

Important: After receiving the verification email from Stripe, be sure to complete the account verification process as soon as possible. The verification link and code will remain valid for up to 10 days. If the verification period expires, you'll need to restart the bank account verification process.

After verifying your bank account, follow the steps below to finish your account:

  1. Enter Business Info (when you select your account type as Business).

Enter Personal Info

  1. Enter your legal name (must match your SSN).

  2. Enter your date of birth and address.

  3. Click Save & Continue.

Enter Business Info (if account type is Business)

  1. Enter your Business Name (must match the legal name or DBA listed on your EIN/tax documents).

  2. Enter your 9-digit Employer Identification Number (EIN) as shown on tax documents.

  3. Enter your Business Address (must be a physical address).

  4. Click Save & Continue.

Complete Signature & Verification

  1. Enter your Full Public Name – this is the name that will appear on tenants’ bank statements.

  2. Enter the last 4 digits of your SSN or ITIN – required for a one-time security check. (This is a soft pull and does not impact your credit. RentRedi does not store your SSN or ITIN.)

  3. Enter your Full Name to confirm your signature.

  4. Check the box to agree to the terms.

  5. Click Save & Apply.

Done! ✅ Your payment account has been successfully added.

💡 Important: Once your payment account has been added, make sure it's connected to your property. This ensures tenant payments are routed correctly and processed smoothly.


Need help? 💬

Contact us! RentRedi Chat Support is available 24/7! Access our Live Chat via the chat bubble in the bottom right corner of the RentRedi dashboard.

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