What is bank account validation?
Account validation is the process we use to verify that your bank account number and account details are accurate. We do this to make sure we are sending payouts to a valid, working bank account, so that you get paid for your goods and services. Learn more about bank account validation below.
What happens when my bank account is validated?
After you connect a bank account to GoDaddy Payments, we’ll automatically deposit and withdraw $0.01 from your account. These transactions ensure that we’re able to send money to and debit from your bank account. If these transactions are successful, it won’t hold up any of your payouts. These transactions will be reflected in your bank statement (it may take until the next business day or longer to reflect). We will send an email if there has been an issue with either crediting or debiting your account.
How do I know if I have a validation failure?
If we are unable to deposit and/or withdraw the $0.01 from your account, a validation failure has occurred. You will receive an email from GoDaddy Payments informing you that there has been an issue with the test transactions. We will stop paying you out until a valid bank account has been connected to GoDaddy Payments.
Why do I have a validation failure?
There are several possible causes of validation failures, including: incorrect routing/account numbers, closed accounts and inability to debit.
- Incorrect routing/account number: If the bank account information in your GoDaddy Payments account contains an incorrect routing or account number, we won’t be able to pay you out. Connect a new, active bank account to your GoDaddy Payments account to fix this. Once your account information has been updated, you will be able to receive payouts again starting on the next business day.
- Closed account: We can't transfer money to a closed bank account. Connect a new, active bank account to your GoDaddy Payments account to fix this. Once your account information has been updated, we will begin paying you out again on the next business day.
- Inability to debit: Your bank account may be set up such that it cannot be debited by external parties. You may have to contact your bank to change these permissions.
What do I do if I have a validation failure?
You will need to connect a valid bank account to your GoDaddy Payments account. Ensure that you have entered the correct bank account information (routing and account numbers) and that your bank account can accept credits and debits from GoDaddy Payments. If your information is correct but the test transactions keep failing, it is possible you may need to contact your bank or use a different bank account.