Bank-account validation helps confirm that a receiving account is active and accessible to the intended receiving organization before funds move.
Validation is separate from adding, assigning, or approving an account.
Assignment, approval, and validation
Assigned means the account is connected to a specific disbursement.
Approved means the receiver has approved use of the account when receiver approval is required.
Validated means the required bank-account check has been completed.
An account can be assigned or approved without being validated. Review each status separately.
Microdeposit validation
When Basefund uses microdeposit validation:
The validation process sends a deposit of less than $1 to the receiving account.
Basefund sends an email with additional instructions.
A person with access to the receiving account locates the deposit and notes the exact amount.
The person follows the email instructions or returns to Basefund and enters the exact amount.
After the amount is confirmed, Basefund changes the account status to Validated.
Do not repeatedly guess the microdeposit amount. Confirm that you are viewing the correct account and entering the exact amount shown by the financial institution.
Transaction methods
Basefund may display different account fields or validation instructions for wire, ACH, RTP, or another supported transaction method.
Use the routing number associated with the selected method. Some financial institutions use different routing numbers for wire and ACH transactions.
Reusing a validated account
A previously validated account may be reused while its validation remains valid. It must still be assigned to the applicable disbursement, and any required receiver approval must still be completed.
Confirm the beneficiary, masked account information, transaction method, and validation status before reusing an account.
Insurance eligibility
The required identity verification and bank-account validation must both be complete for a disbursement to qualify for Basefund transaction insurance.
If bank-account validation is skipped, the affected disbursement does not qualify for Basefund transaction insurance.
Role-specific instructions
Receivers should see Adding, Approving, and Validating Your Bank Account.
Coordinators and Co-Coordinators should see Requesting or Assigning a Receiver’s Bank Account.