Linking your bank account helps us automatically debit the outstanding balance. This helps us get paid on time, using the direct transfer from your bank account to ours.
We use Plaid to connect your bank account. During the sign-up process, we present the Plaid user-interface. Plaid uses your banking credentials and provides us a "token." We use this token to verify account balance and initiate the direct transfer of funds.
You can reconnect the bank account from the Quolum application. This happens from time-to-time. We'll notify you via e-mail or alert you of the application.
The outstanding balance is due at the end of the calendar month. We will auto-debit the amount from your bank account.
All businesses that signup for the Quolum SaaS card feature are assigned a credit limit. This credit limit is based on your account balance. If the payments made to SaaS vendors on the Quolum SaaS Card are close to reaching their limit, we initiate an auto-debit of the outstanding balance to date so that future payments are not blocked.
We do not store your bank account credentials. Your bank account credentials are used by Plaid to provide us an API token to access a bank account on your behalf.
Updated almost 3 years ago