A disbursement account is a type of account that is used by Lenders to manage the distribution of funds to their customers. Withdrawing money from a disbursement account is a process that requires the use of Two-Factor Authentication (2FA) for security reasons, which should be set up before performing the actual withdrawal. In this guide, I will break down the process of withdrawing funds from a disbursement account into a step-by-step guide that is easy to understand and follow.
How to withdraw from your disbursement account
Step 1: Verify that you have Two-Factor Authentication (2FA) set up for your account.
If you haven't already done so, you can set it up by following these steps:
Go to the "Settings" tab in the side navigation pane and select "Preferences".
Under the Preferences page, find the "Two-Factor Authentication" option and select it to activate 2FA.
Alternatively, you can use the link provided in the guide for a full guide with a video tutorial on Two Factor Authentication.
Step 2: Go to the "Businesses" tab in the side navigation pane and select "Disbursement".
- Once 2FA is set up, go to the "Businesses" tab in the side navigation pane and select "Disbursement".
- On the Disbursement page, find the "New Transfer" button and select it.
- Choose the default source account and the settlement account from the options.
- Enter the amount and narration, then click the "Transfer" button.
- You will be prompted to provide an authentication code. Enter this to complete the withdrawal process.
Alternatively, you can watch this video below to understand how to withdraw from your disbursement account