How does Buyer Funds Verification work?

Summary

In this article, we will cover all aspects of Buyer Funds Verification.

  • As a Buyer, once you verify your funds, your profile will be updated with a verification tick.
  • Frequently Asked Questions

Buyer

A Buyer can verify their funds through their Account Settings on Flippa. 

Go to your “Account Settings”, then select “Verification”.

Select “Start Verification” and you will be presented with two options through which to verify your funds:

  1. Verify Bank Account Balance
  2. Verify by Flippa Manually

Verify Bank Account Balance

If you select Verify Bank Account Balance, our integration with Plaid will verify in real time your account balances and provide instant verification. This is currently available to bank accounts in the USA and Canada.

Manual Upload

If you choose Verify by Flippa Manually, you will be able to provide multiple documents that will allow Flippa staff to verify your funds manually. You must identify which documents you are providing and these can include:

  • Bank account statement
  • Stock portfolio
  • CPA letter
  • Home equity line of credit (HELOC)
  • SBA documentation
  • Cryptocurrency account/wallet statement
  • Retirement account
  • Other available credit status

Verified Buyers

Once either Plaid-based verification or Flippa manual verification has been completed, the Buyer will receive an email informing them of the funds verification. From there, the Buyer will be able to engage with any Seller and their listings that require funds verification. The amount of verified funds is only able to be seen by the Buyer themselves. 

 

FAQs

Buyers

Question:

What happens if the integrated Bank Account Balance Verification does not work or does not correctly verify my available funds?

Answer:

If the integrated verification process does not work or you do not believe it accurately shows your available funds, you can verify your funds manually through Flippa.

Question:

If I have multiple bank accounts, can these all be verified through the Plaid integration? 

Answer:

Plaid does allow this to be an option, but it depends on the bank or financial institution. If your bank or financial institution allows this option, you will be able to choose multiple bank accounts.

Question: How does Plaid store and use my information?

You can read Plaid’s Privacy Policies and Practices, and Terms and Conditions

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