Qualifying Direct Deposits are defined as Recurring Automated Clearing House (ACH) credits, including payroll, pension, or government payments (such as Social Security) made by your employer or an outside agency. We may require documentation to verify that credits are Qualifying Direct Deposits. Qualifying Direct Deposits do not include peer-to-peer payments or ACH transfers (funds transfers) from your external accounts.
What is a Qualifying Direct Deposit?
Additional Money In FAQ
- How do I link an external account?
- How can I set up a Direct Deposit?
- How do I use the Mobile Deposit feature?
- What is a wire transfer and SWIFT code?
- How do I add more funds to my checking account?
- How do I manually verify an external account?
- What are the domestic wire instructions to send a wire to a LendingClub account?
- What is the incoming international wire process?
- Do I give LendingClub 100% of my paycheck?
- When setting up Direct Deposit, what credentials should I use when connecting with my payroll provider?
- Can I set up Direct Deposit for more than 1 checking account?
- Where can I deposit cash into my checking account?
LendingClub Resources
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Related FAQ's
You can allocate a specific percentage or dollar amount to be direct deposited into your LendingClub account, anywhere from 1-100% of your paycheck.
Set up a direct deposit into your account, and you could be eligible to receive your money up to 2 days earlier.
Please have your bank send a fed wire through their North American correspondent to...
You can add funds to your account through your LendingClub profile.
If you aren’t able to instantly verify an external account, it may be necessary for two (2) micro-deposits to be made into the external account that you have entered here, typically completed within 3-5 business days.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
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