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Bank accounts are verified by debit/credit micro deposits. How and who does it?
I was wondering how bank accounts are verified by debit/credit micro deposits. Can you explain that to me?
Sure! Micro deposits are small amounts of money that are deposited into a bank account to verify its authenticity. The amounts are usually less than a dollar and are accompanied by a code or message that the account holder has to verify. This process is mostly used by financial institutions to ensure that the account provided by a customer is valid.