What are Test Deposits and what do I do with them?

Test deposits are part of the account opening and validation process.  When an Ellevest client opens an account, Ellevest will communicate your bank account information to Folio, where your investment funds will be held. In order to validate that the account is truly yours, two small test deposits are sent to the external bank account that you provide and subsequently withdrawn. The transaction detail at your bank will state these deposits are from “FOLIOfn Investments.”  

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