How to make the opening deposit

When you open your first Letter account, you will see a welcome page with your name on it, a reminder to deposit funds, and your new account and routing numbers.

Your first step after opening your new Letter account is to make your initial deposit. You can choose either a wire or ach transfer. Wires take 1 business day and ach transfers take 3-4 business days to arrive.

Letter's minimum opening deposit requirement is $10,000, and our minimum account balance requirement is $2,500. We have no associated fees, but do require these amounts to be met in order to maintain an active account.

To get started making your deposit, tap on the Connect Bank and Deposit button at the bottom of the screen.

Choose an account type. In this instance you will choose Traditional.

Tap on Traditional to continue.

Type in the name of your current banking institution.

Tap on your institution when it appears in the drop down list. 

Tap Sign In to enter your credentials and sign in to your account.

You will leave Letter and be taken to your current bank's sign in page.

Sign in to your current bank account.

When you are signed in, select the accounts you wish to connect and tap confirm.

Upon completion you will be returned to your Letter account, and will see a verification screen.

Once your account is verified, you will be able to make a deposit with it.

Now that your account is connected, tap on Move Money in the banking menu.

Select the account you wish to move money from. In this instance it will be from your connected account.

Select the account you wish to move money to. In this instance it will be your new Letter account.

Tap on Move Money to complete your deposit.

Review the transactions details, and if everything looks good, tap Confirm Transaction. 

Your deposit has been submitted. It will typically take 3-4 business days for it to credit to your account.

Once your deposit has credited, you will be able to begin transacting with your Letter account. Welcome aboard!