A guide to understanding the different outcomes of Worth's bank verification process.
Worth supports two input methods for bank accounts:
- Manual entry of the routing and account number.
- A Plaid integration
Because these methods present results differently, this guide explains how to interpret both.
Standard Bank Verification
(Manually entered routing and account number)
The results will be displayed in two parts:
- Account Status (left): Indicates whether the bank account exists and is in good standing
- Account Authentication (right): Shows whether the account is authorized to be used by the applicant (i.e., the account belongs to the business or business owner)
Account Status Results
- "Account Verified" - The account is open, active, and in good standing.
- "No Information Found" - An account with the routing and/or account # provided cannot be found or does not exist
- "Unverified Account" - The account is closed/inactive or is otherwise not in good standing. (Authentication will not attempt to run)
- "High Risk Account" - The account is closed or is pending closure. (Authentication will not attempt to run)
Account Authentication Results
- "Account Authenticated" - The name on the account matches the legal name, DBA name, or owner name
- "Invalid Address" - The name on the account matches but the address on file does not match what was provided
- "Invalid Phone Number" - The name on the account matches but the phone number on file does not match what was provided
- "High Risk Account" - The name on the account matches but multiple secondary data points (address, phone number, etc) on file do not match what was provided
- "Failed" - The name on the account DOES NOT match the name of the business
- No Result - An authentication result will not appear in the following circumstances
- The account does not exist
- The account is no longer open
- The bank does not participate in account name sharing
Plaid Bank Verification
The Plaid integration displays results in two tabs:
- 'Open Accounts' - Account verification results and account balances
- 'Transactions' - A history of transaction activity within the account
Open Accounts Results:
- "Match" - The name on the account matches the legal name or DBA name of the business
- "No Match" - The name on the account DOES NOT match the legal name or DBA name of the business
- 'Balance' - Displays the balance on the account(s)
Transactions Results:
Transaction history will display newest to oldest. There are drop downs to select which accounts to display and to adjust the time frame of the report.
