Bank account verification
All bank accounts in Cubbi must be verified before payments can complete. This stops you (and fraudulent people) from entering a bank account you don't have access to. It's also an excellent safety guard if you accidentally enter the wrong bank account.
To verify a bank account Cubbi will send you a small deposit into your bank account and you will need to enter that exact amount into Cubbi to confirm you have access to that bank account. Within 3 business days Cubbi will debit the small deposit back out of your account. Time limits apply.
You cannot receive funds from a tenant until your bank account is verified. The good news is, rent can still be paid by the tenant but it will sit in a Cubbi trust account until your bank account is verified.
For tenants (Direct Debit only):
Rent will still get debited from your bank account even if the bank account is not verified but the money will sit in a Cubbi trust account and not be marked as paid until your bank account is verified. Time limits apply before the funds are returned back to the account.
*in effect from July 2019