Deposit and Withdrawal Verification

What is deposit and withdrawal verification?

Before you can use your external bank account on Prosper, you are required to verify that account. Some members may be eligible for instant account verification, which is, well, instant. Others will need to use deposit and withdrawal verification, in which two small transfers are made to your bank account. This process takes 1-2 business days.

Deposit and withdrawal verification involves the following steps:

Enter bank account details
Enter the bank name, account number, and routing number of your account.
Prosper makes two small transfers to your bank account
Prosper will make one small deposit to and one small withdrawal from your bank account. The amount of the deposit is always larger than the amount of the withdrawal, so the net result to your account is always positive. It usually takes 1-2 business days for these transactions to appear in your bank statement.
Check your statement, and enter the amounts of the two small transfers on Prosper
Once the deposit and withdrawal have appeared in your bank statement (paper or online), you can come back to Prosper, go to "My Account > Accounts", and click "Verify" next to the account which you would like to verify.
Account verified!
If the deposit and withdrawal amounts you provided match the amounts that were sent to your account by Prosper, your account will be verified and will be available for your use.

How do I enter the two transaction amounts?

To enter the transaction amounts and verify your bank account, go to "My Account > Accounts" and click "Verify" next to the account you would like to verify.

Don't attempt to verify your account unless you have checked your bank account statement by phone or online statement! It will take between 1-2 business days for the verification transactions to reach your bank account, and Prosper will send you an email notification once those transactions should have appeared in your account statement. When you receive that notification, check your online statement or your next paper statement, sign in to Prosper and enter the amounts of the deposit and withdrawal to verify ownership of the account.

Why can't I enter the transaction amounts yet ?

If it has not been 1-2 business days since you initiated the deposit and withdrawal verification process, you won't even be able to try entering the deposit amounts. Just wait until at least 1-2 business days have passed, then come back and enter the amounts. You'll get a handy reminder email from Prosper when we're ready for you.

I don't see any Prosper activity in my bank account. What happened?

This could happen for several reasons:

It takes 1-2 business days for the deposit and withdrawal verification transfers to reach your account. If it has been more than 2 business days, one of the reasons below may apply.
You may have incorrectly specified your account number and/or routing number when adding it to Prosper. Call your bank and ask for the specific account and routing numbers required for electronic transfers (via ACH). If the account numbers you entered originally don't match the required account numbers, add your account again with the correct account numbers.
Your bank doesn't have your authorization on file to perform electronic withdrawals (via ACH) involving your account. Call your bank and request that your account be authorized to accept electronic withdrawals via ACH.
Your bank might not support electronic withdrawals (via ACH) from your account. In this case, you will need to add a new bank account to Prosper.

I got a deposit but not a withdrawal. What happened?

Sometimes the verification deposit will succeed, but the withdrawal from your account will fail. This could happen for several reasons:

The withdrawal may take a little longer to appear in your bank statement. Please wait at least one more business day for the withdrawal to appear. If it does not, one of the other reasons (below) may apply.
If your account is overdrawn (has a negative balance), the small withdrawal will fail. Even though the verification deposit is always larger than the verification withdrawal, if your account is overdrawn, your bank will not allow the withdrawal to proceed. You cannot verify an overdrawn account. Bring your account balance positive and contact customer support to re-attempt verification.
Your bank doesn't have your authorization on file to perform electronic withdrawals (via ACH) involving your account. Call your bank and request that your account be authorized to accept electronic withdrawals via ACH.
Your bank might not support electronic withdrawals (via ACH) from your account. In this case, you will need to add a new bank account to Prosper.

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