Updated micro-deposit verification timeline

When using bank deposit verification, note the following updated timeline and process:

• Donors must verify the micro-deposit amounts within 14 days from when the deposits are sent.
• If donors do not verify within 14 days, the gift moves to a pledged unpaid status (or recurring failed status for recurring gifts).
• GiveCampus automatically sends daily reminder emails to donors who have not yet completed verification, starting 5 days after the gift initiation. As the deadline approaches, a final reminder email is sent. Although these automatic reminders are in place, it is a good idea to check with donors if a gift lapses, in case the reminder emails landed in spam.

The verification process works as follows:

1. The donor enters their bank account information.
2. Stripe sends a micro-deposit to their account. Depending on how Stripe routes the verification, this may be two small deposits or a single deposit with a unique descriptor code in the bank statement.
3. The donor receives a GiveCampus verification email with a link to Stripe’s hosted verification page.
4. The donor clicks the link and enters the micro-deposit amounts or descriptor code as prompted.
5. Once verified within the 14-day window, the actual gift processes.