How to Make an Initial Deposit

All applicants are required to complete a minimum $50 Initial Deposit by linking your Account through Plaid. See below for more information!

Ethan avatar
Written by Ethan
Updated over a week ago

Why do I need to fund my account during application?

All North One applicants are required to provide an initial deposit of $50 minimum in order to access all of North One’s features and offerings.

Initial funding of your North One Account is done via Plaid, which transfers funds from your existing bank account to your North One Account. To fund, simply enter the dollar amount (minimum of $50), click ‘continue’ and follow the prompts.

Note: The External Account will need to be under your name or business name, and must have a balance of 1.5X the amount of the initial deposit, and a minimum of $100.

Example: if your initial deposit is $100, the minimum balance in the External Account must be $150 at the time of the initial deposit.

How long does it take for my initial deposit to land in my North One account?

Initial deposits arrive by standard ACH and typically take 1-3 business days. During this time, you will not have access to your North One Account.

What if my existing institution is not showing up in the Plaid search?

If you enter an institution that is not in the Plaid network, you will be unable to manually link your external account.

Currently, connecting an External Account through Plaid is the only method can be used for your Initial Deposit.

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North One is a financial technology company, and not a bank.

Banking services are provided by The Bancorp Bank, N.A., Member FDIC.

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