For the security of our clients at Groundfloor, we currently do not have the ability to add more than 1 bank account to the platform. Funds that are placed on the platform are only eligible for withdrawal from the original bank account it originated from. However, if you would like to change your bank account, you may do so.
In cases where a bank account is closed, clients must provide a letter from their bank confirming the closure and proof of ownership for the new bank account to ensure a secure update process.
After logging in:
Click on the 'transfers' circle arrow icon.
Select 'Remove Bank Account' shown in the screenshot below.
Then click 'yes' when prompted if you wish to remove the bank account.
The page will refresh and you will be prompted with a blue Link Bank link shown in the screenshot below.
Click on the 'Link Bank' hyperlink.
You will then be prompted to submit the credentials for the new bank account.
Please note, if you would like to add a bank account manually, via micro-deposits, you may do that as well by adding the account & routing number. This method will issue micro-deposits to your bank account. After they are posted, you will need to provide those two small (<$0.10) amounts on the platform to add your bank account.
In extreme circumstances, we do require additional documentation for funds to be transferred to a new account, along with an extended holding period. Furthermore, there are some financial institutions/bank accounts we have found users to have trouble linking, regardless of the method used. In these instances, we will ask for the bank's routing number to confirm if your account falls into this category.
Required documentation includes both a letter from the bank confirming the closure of the previous account and proof of ownership for the new account, such as an account statement or confirmation document.
One suggestion that we’ve seen work for other investors is to move funds around within bank accounts on their side, and then use the one account linked to Groundfloor for transfers.
If you have any additional questions, please reach out to customer support via live chat or set up a time to chat, Monday through Friday, 9am – 5pm EST.
View the customer support team's calendar here to schedule a chat: https://calendly.com/d/crf2-dk7-kr2/new-meeting