Bank account verification is a standard security check. It confirms you own the account where you receive payments, which is a key step for any freelancer.
What is Bank account verification?
Bank account verification is a security process. It confirms that a bank account belongs to you. This is done by checking your account details, like the number and routing information, against official records.
Why is this important?
For freelancers, verification is crucial for getting paid. It prevents fraud by ensuring money goes to the right person. It's also often required by clients or platforms before you can receive your first payment.
How does it work?
Typically, you provide your account and routing numbers. The verifying party then makes one or two small test deposits into your account. You confirm the exact amounts you received to prove ownership.
Pros and cons
The main pros are enhanced security and reliable payments. The only con is a short delay during setup. Overall, it's a simple step that protects both you and your client.
Conclusion
Bank account verification is a fundamental part of professional freelancing. It builds trust and ensures a smooth payment process. Completing it promptly helps you start earning without payment hiccups.
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