Verifying your Income via Open Banking
To verify your income you can either connect to open banking, or verify manually.
To verify with Open Banking you'll need to connect your bank account and give us read-only access to the income transactions you select to share with us.
For step-by-step instructions on verifying with Open Banking, see below:
Select the 'Verify income' section on your RentPassport™.
Click 'Add' next to 'Income Sources' and tick the relevant income sources of all incomes you are receiving, e.g. if you have a part-time job and also receive benefits tick both 'Employed' and 'Benefits'.
Click 'Add' next to your selected income source to enter your income details.
Please note that if you have more than one income for an income source (e.g. you have two employments, or receive two different benefits) you will need to enter each one separately. Please enter your first income and then return to the below screen and you will see an option to 'Add another'.
Answer the questions on the next few screens about the income you are receiving, who is paying you and when you began receiving this income.
Once you have entered your income amount and payment frequency you will be asked to provide evidence to verify this.
Now you will need to add your bank account. Click "Add bank account as illustrated below and select your bank from the list. you will also see the functionality to search for your bank. Canopy will now use our intermediary,
Plaid, to connect with your bank. You will be directed to log into your bank to authorise this connection.
Please note that Canopy nor Plaid will gain access to your login details for your bank, login is required is for your security to ensure it is you that is authorising the connection.
You will now be able to select your most recent income or rent payment but before the you will be required to answer the following.
- How often do you get paid?
Now you have successfully connected via Open Banking and verified your income.
If there are any discrepancies you will be prompted to complete the manual journey in order to verify your income.