How do I fund my account?

Swell currently supports bank transfers via Automated Clearing House (ACH) as a method of funding accounts. ACH is an electronic network for financial transactions in the United States that lets you move funds directly between a checking or savings account and your Swell account, similar to the way you receive direct deposits from your employer. You can link your bank directly via Plaid or by using microdeposits.

More about the two ways to verify and link your bank account:

1) Bank account verification via Plaid (direct bank link): Swell has partnered with Plaid, a third party platform for quickly and safely verifying bank account information. After you input your username and password for your bank account, Swell will retrieve your bank account and routing numbers, as well as your current balance (“Account Information”) via Plaid.

Swell will not store your username or password for your bank account. Plaid will provide Swell an access token that exclusively allows Swell to retrieve your Account Information. All information transmitted between Plaid and Swell is encrypted over a 256-bit Secure Socket Layer (SSL) and secured with bank level protection. All information Swell receives from Plaid will be governed by Swell's Privacy Policy

By using Plaid through Swell, you agree to the above terms and further agree to hold Swell harmless from losses of any kind that may result from Plaid’s use, misuse, or loss of your personal information and Account Information.

To learn how Plaid uses and protects your information, please see Plaid’s Privacy Policy.

2) Bank account verification via micro-deposits: In order to link your bank account to your Swell account through micro-deposits, we must verifiy that we are linking the correct account. After entering your routing and account numbers, you should receive two deliberately random micro-deposits (between $0.01 and $0.50) from our clearing firm, Folio Investments into your bank account. This usually takes up to three days. Once these micro-deposits have arrived in your bank account, please log in to your Swell account to confirm the values of the random deposits. You will then be able to complete your initial deposit into your Swell account. Please note that any small deposits sent to your bank account for verification purposes will be withdrawn from that bank account within 10 business days.

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