Why Do I Need to Connect a Bank Account During Onboarding?
Edited
Truemed functions as the payment processor for HSA/FSA transactions on your store. That means we collect funds from your customers' HSA/FSA cards on your behalf, and then transfer those funds to you.
Why a Bank Account Is Required:
To remit payouts, we need a valid bank account connected to your store. This connection is made securely through Stripe during the Truemed onboarding process.
Security and Compliance:
The bank account connection is encrypted and managed entirely via Stripe.
Truemed does not store your banking credentials.
Once set up, you’ll begin receiving payouts automatically on a rolling basis (typically every 48 hours).