Link bank accounts to Moov accounts and verify bank accounts through instant micro-deposit verification, Plaid Link, or MX.

Trigger [micro-deposit verification](https://docs.moov.io/guides/sources/bank-accounts/verification/instant-micro-deposit/) for any bank account immediately after you've captured that bank account's details. Alternatively, you can use instant account verification (IAV) with [Plaid Link](https://docs.moov.io/guides/sources/bank-accounts/verification/plaid/) or [MX](https://docs.moov.io/guides/sources/bank-accounts/verification/mx/) if you have an existing relationship with Plaid or MX.

You're still able to send funds to a bank account that hasn't been verified, but in order to collect funds from that account, its ownership _must_ be verified.

## Account types

| Account type      | Description                                                                                 | Individual account | Business account |
|-------------------|---------------------------------------------------------------------------------------------|-------------------|------------------|
| `checking`        | Standard checking account                                                                   | **✓**             | **✓**            |
| `savings`        | Standard savings account                                                                     | **✓**             | **✓**            |
| `loan`           | Loan account for activities such as debt repayment and consumer bill pay                   | **✓**             | **✓**            |
| `general-ledger` | Ledger account for activities such as disbursements and external account funding            | **×**             | **✓**            |

## Payment methods

Moov will automatically create payment methods for every rail a bank account is eligible to be used with.

| Payment method                   | Use as     | Details                                                                       |
|----------------------------------|------------|-------------------------------------------------------------------------------|
| `ach-debit-fund`                 | Source     | Fund [payouts](https://docs.moov.io/guides/money-movement/send-payments/send-funds/) or add funds to a Moov wallet from a verified linked bank account |
| `ach-debit-collect`              | Source     | Pull funds from a verified linked bank account for bill payment, direct debit, or e-check type use-cases |
| `ach-credit-standard`             | Destination | Disburse funds to a linked bank account                                       |
| `ach-credit-same-day`            | Destination | Disburse funds to a linked bank account using same-day processing             |
| `instant-bank-credit`             | Destination | Disburse funds to a linked bank account in real time with the RTP and FedNow rails. The source for a `instant-bank-credit` payment method must be a `moov-wallet`. |
| `rtp-credit`                      | Destination | Disburse funds to a linked bank account in real time. The source for a `rtp-credit` payment method must be a `moov-wallet`. |

While `instant-bank-credit` and `rtp-credit` both provide instant payments on the RTP rail, Moov strongly suggests using `instant-bank-credit`, which supports the RTP and FedNow rails.

Use the guides below to learn more about bank account verification options.