Online Banking

How do I make a deposit into my account?

You can make deposits to your accounts at Medici Bank by sending a Wire Transfer from another bank to your account at Medici Bank. 

How can my customers make a payment to my account?

To receive payments to your account through a wire transfer please provide the wire transfer instructions to your customer/supplier; those instructions can be found by logging in to your online banking portal

I was asked for a SWIFT number-what is that?

A SWIFT number is a digital address within a directory that many banks subscribe to. Medici Bank does not subscribe to SWIFT, so does not have a SWIFT number. But, you can still receive international wire transfers. The sender's international financial institution should have a correspondent bank in the US (which acts as an intermediary bank) to which they can wire the money and then intermediary bank will send the money domestically (within USA) using the ABA routing number associated with your account at Medici. You can find the ABA Routing Number as part of the wire instructions.

I was asked for an IBAN number-what is that?

IBAN is short for "International Bank Account Number" and is the number attached to all bank accounts in the European Union. An IBAN consists of letters and numbers indicating country, bank, and account number.

I was asked for BIC Code-what is that?

BIC is short for "Bank Identification Code" and is also known as the "SWIFT Code". It's a code assigned by the Society for Worldwide Interbank Financial Communication (SWIFT) to facilitate messaging between participant banks.

How do I pay people or companies from my account?

Your receivers can be paid either by wire transfer or, if they have an account with Medici Bank, via internal transfer. Depending on the amount, most internal transfers are instant.

Can I send wire transfers?

Yes, you can process outbound wires and receive inbound wires, both domestically (USA) and internationally. Wires are processed based on your instructions via the online banking portal.

Where do I find wire instructions?

Wire instructions can be found by on the Accounts page after logging into the online banking portal

How do I send money to a bank account outside the US?

Funds to/from a Non-US Bank must be sent/received by wire transfers.

What information do I need to send money to a non-US Account?

To send a payment to a Non-Us account (international) please ask your vendor/recipient for the following information:

• Intermediary US Financial Institution, if any
• Beneficiary Bank BIC/Swift Code
• Beneficiary Bank name and address
• Beneficiary/Recipient's name and address
• Beneficiary/Recipient's account number

How do I send a wire transfer to recipients located in the US

1. Log in to your account online
2. Confirm balance availability
3. Go to Send Money tab
4. Select Add recipient
5. Select the Type of Account (Personal or Business)
6. Click "In the USA" in the Recipient Location
7. Create the recipient bank details: Bank name, ABA/Routing number and bank address
8. Create beneficiary customer details: Name, Account number and customer address
9. Save template for future payments to this customer
10. Open My Recipients tab and select the customer template you will send funds to
11. Click on External account, add amount of payment and purpose of payment in the respective fields
12. Click send money
13. Type your OLB account password and 2FA code and click 'submit

How do I send an international wire transfer?

1. Confirm balance availability
2. Click "Send Money" in the left navigation column
3. Select "Add recipient"
4. Select the Type of Account (Personal or Business)
5. Select the Recipient Location (In the USA or Outside the USA)
6. Input the recipient bank and account details
7. Save recipient for future payments
8. Click "My Recipients" tab and select the customer template to send funds
9. Input the amount of payment
10. Click on "External account"
11. Input your account password and 2FA code and click 'submit'

What if the intended recipient says that they never received the funds?

Please allow at least 3 business days for funds to be received by the beneficiary. If the recipient has not received the funds by then, log in to your account and open a Support Ticket  (click "Get Help" in the drop-down menu below your profile icon) and we will investigate.

What does "cut-off time" mean?

Cut-off is the time of day the bank processes the last batch of transactions. All transactions submitted after the cut-off time will be processed the following business day. 
The cut-off time is at 12:00 PM Atlantic Standard Time

Can I send money via ACH?

ACH processing is not available at this time. Check back later as we expect to add ACH processing later.

Can I fund my account with an ACH transaction?

Not just yet.

Can I deposit cash?

No; as a digital-native bank, we don't support paper-based products.

Do you have debit cards?

Not yet; however it is expected to be added soon.

Do you support checks?

No; as a digital-native bank, we don't plan to support paper-based monetary instruments

I forgot the username and password, what can I do?

Recover Username:

1. Click Forgot username- You will be instructed to type the email address associated with your account.

2. Click Start username recovery process. Username will be sent to your email.

Reset Password:

1. Click Forgot password- You will be instructed to type the username

2. Once username is entered click Start password reset

3. An email will be sent to the email address associated with your account.

4. Open email and follow instructions to reset password.

Can I have multiple users on my account?

Yes, Business DDAs allow for multiple users. Consumer accounts (CDs) do not support Joint Accounts at this time.

How do I add users to my business account?

To add users, log in to your account and go your account Profile and select 'Add User'. Input the new User's email address and we will email them a link to join the account. They will need to go through our identification process.