There are a few ways to deposit funds into your Novel account.
1. Connect your Stripe/PayPal or another merchant account directly.
2. Deposit via Domestic ACH & Wire
3. Instant Deposits via Debit Card
4. International ACH & Wires
5. Check Deposits
Connect your Stripe/PayPal or another merchant account directly
For Stripe:
Navigate to Settings -> External payouts
Add your Novel bank account if you haven't already or edit an existing one
Enter your business name as the account holder (you can confirm this by looking at the bottom left of your Novel dashboard
Enter your routing and account number from your dashboard
Confirm your account number and that's it!
For PayPal:
Navigate to the PayPal wallet and select Add bank
Enter Novel into the bank field and select “Enter your bank details"
Enter the account and routing number listed in your Novel account
Wait for the deposits to hit your account
Once the deposits are hit enter the values into PayPal to confirm
For other merchant accounts, find your merchant's payout settings and add your Novel bank account and routing number to receive payouts.
Deposit via Domestic ACH & Wire
To deposit funds via Domestic ACH or Wire simply initiate an ACH or Wire into your account using your account and routing numbers. Your routing number supports both ACH & Wire.
Instant Deposits via Debit Card
Some merchant processors like Stripe support instant payouts via your debit card. Stripe will determine your eligibility for these services and more information can be found here: https://support.stripe.com/questions/instant-payouts-eligibility.
If the service is available for your account, you can set up instant payouts using a Novel card. Simply create a card within your dashboard and then enter the debit card information into Stripe.
International ACH
Novel supports International ACH (iACH) out of the box. Simply use your account and routing number to receive payouts. TransferWise and other international payment providers support this payout method.
Check Deposits
To ensure fast and accurate processing of your check, you will need to take a photo of the original check front and back with all four corners visible and no alterations of any kind.
The back of the check must also be endorsed with your signature and display “Mobile Deposit at Five Star Bank”
Any checks that are scanned, authorized over the phone, and created remotely will be rejected.