When you link a new bank account, it starts as Pending while we verify it. This is expected and can take some time to clear.
A few things can be happening behind the scenes:
- Micro-deposit verification: Depending on how you linked your account, we may need to send two small deposit amounts to your bank for you to confirm. If this applies to you, you'll see a "Manually Verify" option in the app. Check your bank statement for the two small deposits and enter them there to complete verification.
- Ownership match: The bank account needs to be owned by the same person or entity as your iFlip account. For example, if your iFlip account is titled in the name of a trust or LLC, your linked bank account needs to be titled the same way; a personal bank account won't match. If we can't automatically confirm this, including cases where we simply aren't able to determine the bank account's ownership from the bank data, we may need you to upload a bank statement for manual review.
- Broker approval: Once your bank account is verified, it also needs to be approved by our clearing broker before you can use it to fund your account. This step is usually quick, but can occasionally take longer.
There's no fixed timeframe. How long this takes depends on which of the above steps applies to your account. If your bank account has been pending for an extended period, contact our support team at support@iflipinvest.com and we'll look into it.