Extra Tools

Bank Verification Process

1. Agent enters client’s name, number, and email address on the Bank Verification form in Planet, M.planet, App. 

2. Client receives text and email introducing them to Invite for verification. They are instructed to select their bank and then enter their banking username and password. 

3. Agent receives a message that the account is green for pass or red for no pass. 

Pass/No Pass Rules:

• When the 'overdraft_30_count' code is received, the 'Your Account is overdrawn in the last 30 days' status is shown in Red

• When the 'average_number_nsf' code is received, the 'Your Account has two or more NSFs in the last 60 days' status is shown in Red

• When the 'credits_30_count' code is received, the 'There are no deposits in the Account in the last 30 days' status is shown in Red

• When the 'employ_monthly_income_freq' code is received, the 'There are no deposits in the Account in the last 30 days' status is shown in Red

• When the 'current_overdraft' code is received, the 'Your Account is currently in Overdraft' status is shown in Red

• When the 'inverite_pass' code is received, the Green marker is shown

In order to find the banking verification tool – go to Planet and then click on the ‘Policy’ button on the left side. Once on this screen – just make sure to choose at the top right corner to ‘switch to Canada’ (little Canadian flag icon).