Connecting External Bank Accounts

Rho partners with Plaid and Finicity to allow you to securely connect an external bank account. If your bank supports this functionality, linking a business checking account will allow you to initiate a linked-account transfer to fund your Rho account.

To link an account, follow the below steps:

1. Click your Business in the top left of your Rho dashboard, then click Business Settings.
2. Click External Bank Accounts in the left navigation, then click Instant Connect.
3. Follow the instructions to access your external financial institution and connect.
   • From the Select Your Institution prompt, click the icon associated with your bank or enter the name of your bank in the Search field and select it.
   • The Enter your credentials or a Login page for the bank displays. Enter the username and password associated with the external account and click Submit. After you validate the transaction via two-step authentication, when configured, the external account is linked to your Rho account, and is listed in the Linked Accounts section.

Once connected, you can fund your Rho account and set up automatic card payments from your linked account.

Note: If you have multiple checking accounts under one Business, you will not be able to directly link a "sub-account" to an external account. All external accounts are linked to the Rho account as a whole (subs included). However, when going to "deposit funds" in your Banking tab using our linked account feature, you can choose which sub-account to send funds to and from which linked external account the funds will originate.

Troubleshooting

Below are some of the errors you may encounter when connecting to your external bank account.

Incorrect Credentials

The username and password you used to log into your external bank account were not accepted by your bank. Ensure you are using the same username and password you normally use to login to your third party bank.

If there were multiple institutional selections available for your bank (e.g. SVB Go vs SVB Online Banking), please ensure you selected the correct institution. If you are logging into the incorrect institution you will receive an “Incorrect Credentials” error even if your username and password are correct.

Additionally, some banks use a special "third party application password" or "allow third party access" setting for additional security. In this case, you will need to ensure you use this special password instead of the password you use to log into your financial institution directly on their website.

Please reach out to Rho Client Service if you’ve verified your username and password but the error persists.

Incorrect Institution

Some institutions have different websites for their business and personal accounts. Always make sure you are choosing the institution you use for business banking.

If you don’t see your bank when you attempt to connect, try the second connection provider (Rho works with both Plaid and Finicity) or reach out to Rho Client Service.

Temporary Connection Issue

There may be temporary connection issues with our providers (Plaid and Finicity). Please wait a few minutes and try again.

Authentication or Permission Issue

These types of issues might arise when there is an authentication or permission problem with your account or user credentials which prevents a connection.

Common causes:

• An incorrect answer to a security question presented by your institution
• Your Multi-factor authentication (MFA) device is inactive
• Your institution failed to send the one-time code for MFA authentication
• Your institution requires special security configuration before third party account connections can be established
• Your account is not fully set up at your institution
• Your institution is blocking access due to an administrative task that requires completion
• You or another user for your bank account did not agree to share, or has revoked, access to the data required for connection
• Your user credentials or permissions do not allow you to connect your account in external platforms

Verify your institution account settings to ensure third-party providers are able to connect, and that you have active access to your account. Additionally, you may need to verify with your bank account admin to ensure you have sufficient credentials to create a connection. Alternatively, try connecting to a different account and institution. If the issue persists, try with a different connection provider (we support Plaid and Finicity) or submit a support ticket.