How to Fund Your PEX Account

How to Fund Your PEX Account

When it comes to funding your PEX account, you have three options:
Please review below to determine which option best fits your timeframe and budget. Costs for bank-initiated ACH and wire transfers vary by bank. Contact your bank representative for charges that would apply to your business.

Option #1: ACH Credit (bank-initiated)

Funding your PEX account with an ACH credit initiated from your bank is simple. There is no setup required, and your money is usually transferred within 1-2 business days. The service is typically free, or a couple dollars at most, for this type of ACH transfer. 

To make an ACH transfer from your bank, you’ll need to provide your bank with PEX routing and deposit numbers. Here’s how you find them:
 
1. Log in to your PEX admin account:

 
  • Go to www.admin.pexcard.com and enter your username and password.
  • If this is your first time logging in, you’ll also need to enter your verification code that we sent to you in a separate email.
  • Call us at 866-685-1898 if you need help.
2. Click on the Transfers tab in the main menu, at the top. Once you’ve done this, you’ll see a new sub-menu underneath the Transfers tab. Select “ACH Instructions” from the sub-menu.


 
3. Provide this information to your bank, so they can perform the transfer to PEX. Clicking on “ACH Instructions” will bring you to a screen with the ABA # and Account Number your bank will need. For your convenience, you can print these instructions by clicking the link at the bottom of the page.
 
PEX ACH transfers initiated from your bank take approximately 1-2 business days to complete. Once it’s complete, you can distribute funds to your employee cards and they can start spending. When the transfer has taken place, you’ll notice that the balance in the upper left of your PEX admin site has increased by the amount you transferred. You’ll also see this reflected on your admin dashboard page.

Option #2: Wire Transfer

Funding your PEX account with a wire transfer initiated from your bank is simple. There is no setup required, and your money is usually transferred either same or next business day. Your bank may charge a fee for this type of wire transfer.

To make a wire transfer from your bank, you’ll need to provide your bank with PEX routing and deposit numbers. Here’s how you find them:

1. Log in to your PEX admin account.

 
  • Go to www.admin.pexcard.com and enter your username and password.

  • If this is your first time logging in, you’ll also need to enter your verification code that we sent to you in a separate email.

  • Call us at 866-685-1898 if you need help.


2. Click on the Transfers tab in the main menu, at the top. Once you’ve done this, you’ll see a new sub-menu underneath the Transfers tab. Select “Wire Instructions” from the sub-menu.



3. Provide this information to your bank, so they can perform the transfer to PEX. Clicking on “Wire Instructions” will bring you to a screen with the ABA # and Account Number your bank will need. For your convenience, you can print these instructions by clicking the link at the bottom of the page.

PEX wire transfers initiated from your bank are completed either same or next business day. Once it’s complete, you can distribute funds to your employee cards and they can start spending. When the transfer has taken place, you’ll notice that the balance in the upper left of your PEX admin site has increased by the amount you transferred. You’ll also see this reflected on your admin dashboard page.

Option #3: ACH Debit

Validate the external banking account on your ACH form, using one of the following two methods. If you’re a customer of a large bank, we recommend Method 1 which offers faster, simpler verification.

 

Method 1) Online (Recommended) 

 

1. Read the Online Validation Terms and Conditions on the transfers page, then click Agree and continue
2. Choose your bank from the popup window, log in, and select the account you are authorizing for ACH
3. Once your bank account information is verified and approved, it will be activated for ACH transfers

Validation uses a third-party service to sign into your online banking. Neither they, nor PEX, keep a record of your online banking credentials.

 

Method 2) Mini-Deposits

 

1. PEX staff processes your ACH Authorization form
2. We make two small deposits (between $0.01 and $0.99) into your bank account
3. Check your account after two or three business days to see that the deposits appear in your bank account
4. When they do, return to Manage external accounts page in your administrator dashboard and verify the amounts

Questions?