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Tips for Setting Up Checkbook.io So You Won't Run into Issues Sending Payments
Tips for Setting Up Checkbook.io So You Won't Run into Issues Sending Payments

Tips for making your Checkbook.io experience as painless as possible when sending payments.

Samuel avatar
Written by Samuel
Updated over a week ago

Overview

While Checkbook.io is simple to set up and can make sending payments to your owners, vendors, and tenants a breeze, it is also possible to run into issues if you don't set it up properly. Mainly, it's a good idea to have certain settings and features already enabled so that when you are ready to send payments, you won't run into any issues.

Enter Your Checkbook.io API Keys

This is a very important step that is necessary in order for DoorLoop to talk to your Checkbook.io account. You'll need to log into your Checkbook.io account, grab the keys there, and then paste them into DoorLoop.

  1. Go to Settings > Send Payments and click on the Get Checkbook API Keys button.

  2. On Checkbook.io's site, go to Settings and click on Developer.

  3. You'll see an option to Generate Keys. Click that and then you'll want to copy the API Key and the API Secret key into their respective fields back on DoorLoop.

Adding and Validating Your Bank Accounts in Checkbook.io

Before sending out any payments, you must validate your bank accounts with Checkbook.io.

  1. You'll want to first log into your Checkbook.io account and log into your account from there.

  2. On the left menu, click Settings and then click Accounts.

  3. On the Accounts page, click the button labeled + Add Account.

There are two ways you can add and validate your accounts - you can either do this via Instant Verification or Manual Verification.

Note that if you plan on having Checkbook.io send out paper checks for you, you'll need to go through the Manual Verification process.

Instant Verification of your bank accounts

  1. Click Instant Verification.

  2. Use the search field to find your bank. Click Submit.

  3. Depending on the bank, you'll have two methods of adding your bank account instantly.

    1. Connecting with Plaid - Click Continue on the Plaid popup and you will be directed away from this window and sent to your bank's website to confirm your User ID and Password there. If the login is successful, you'll see a message stating that your account has been successfully linked to Checkbook.io.

    2. Connecting with Checkbook.io - This method requires that you enter the User ID and Password directly in the popup dialog with no need to be redirected out of Checkbook.io. Click Submit when done.

  4. If all the information was entered correctly, you should see your bank account now in the Accounts page.

Manually Verification of your bank accounts

  1. Click Manual Verification.

  2. Add your bank account by entering the routing number and account number and account type.

  3. Click Submit.

  4. The bank will be added to your list of bank accounts. You'll now need to click the box next to the bank name and click the Verify Button on the top.

  5. Once you do that, Checkbook will send you two micro-deposits to your account. You'll get an email with a link that you'll need to click and verify the two micro-deposit amounts. Once you do this, your account will be added and verified.

Increase Your Sending Limits

By default, Checkbook.io only allows you to send $2,000 a day or $15,000 a month. We find that many users will blow through these limits so it's best to increase your sending limit before this happens.

  1. To increase your sending limits, go to Settings > Send Payments. Then click the Sending Limits tab and click +Submit a Request. This will take you to Checkbook.io.

  2. Log into your Checkbook.io account and on the main menu, click Settings. On the right-hand side of the settings page, you'll see a section for Limit Increase. Click the Request Limit Increase button.

Once you request a sending limit increase, it will typically only take a few hours before you receive an email stating that your request was approved.

For more detailed instructions, check the article: Increase Sending Limit for Checkbook.io Payments.

Tip: If you have pending payments from before you had increased the sending limit, you may consider deleting those payments and redoing them. This will reset the sending limit on those payments and allow you to send them right away.

Add Your Signature to Checkbook.io

Since you increased your sending limits, you will need to also add your signature to Checkbook.io if you plan on sending any payments over $2000, which can occur if you're sending out owner distributions for large amounts. Adding your signature proactively will keep you from running into this issue.

You'll need to log into your Checbook.io account and follow the instructions here: https://docs.checkbook.io/docs/web-profile-info which will show you how to add their signature.

Note: You are only allowed one signature per checkbook.io account. If you have multiple bank accounts set up on your checkbook.io account, they will all use the same signature.

Fill in the Billing Email

Before you can send any payments to your owner, vendor, or tenant, you'll need to enter their Billing Email. The Billing Email is where the person wants to receive their payments to. If you edit the information for either the owner, vendor, or tenant, click the Send Payments tab to take you where you need to fill in this information. You'll need to enable send payments from this peson first and then scroll down to the Billing Email section.

Please note that this email address should not match any email address of any user on your account. That means you cannot send payments to yourself, or to any owners you have set up as Users. You would need to enter a unique email address for yourself and them, instead.

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