Why should I add or connect my bank account to Zoho Payments?
Zoho Payments requires your bank account information to settle the payments your business receives. Once you provide the bank account details, they’re verified before marking your Zoho Payments account as active. Verifying your bank account helps protect your business by ensuring that the amounts are settled to the right account.
You can add your bank account details manually or connect your account to Zoho Payments.
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When you add your bank account details manually, Zoho Payments manually verifies your account. You will be requested to submit a canceled check or a bank statement to complete the verification and process your payouts.
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When you connect your bank account, Zoho Payments uses a third-party service, Plaid, to establish a secure connection. When connected, it allows us to verify your account in real time and process your payouts promptly. Connecting your account also evades the human errors or fraud that can occur while adding bank details manually.
Note: The data transmitted through Zoho Payments' servers use Transport Layer Security (TLS 1.2/1.3) encryption, and sensitive data at rest is encrypted using 256-bit Advanced Encryption Standard (AES). So you can be certain that your data is safe with us.
Learn how to enter your bank account details while creating your Zoho Payments account.
