This guide provides instructions for setting up your institution's primary and backup payment methods during the Financial Onboarding process. By completing these steps, you enable your institution to process enrollment transactions automatically through the Admin Center > Acadeum Wallet.
Acadeum supports two methods of payment: ACH (Primary for USA) and Credit Card (Required Backup or Primary for International).
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Pre-Onboarding Requirements
Before beginning the financial setup, ensure the following steps are completed to prevent transaction failures:
- Assign Financial Administrator Role: Only users with this specific role on the User Management page can access or edit payment information
- ACH ID Authorization: Contact your bank to authorize Stripe for ACH transactions (debits and credits). Acadeum initiates these automatically, and unauthorized attempts may be blocked by your bank
- Account Number Validation: Ensure your bank account number is exactly 12 digits. If your number is shorter, add leading zeros (e.g., 123456789 becomes 000123456789)
First Time ACH Setup
ACH is the required primary payment method for all institutions with a United States bank account to reduce transaction fees.
- Navigate to the Admin Center > Acadeum Wallet (Image 1)
- Click Payment Settings (Image 2)
- Click Start to begin the Financial Onboarding process (Image 3)
- On the Setup Primary Payment Method tab, fill in the required fields marked with a red asterisk (*)
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Review the authorization statement and click Save
- Note: Institutions without a USA bank account should click Skip and proceed to Credit Card setup
Confirming Microdeposits
ACH setup is not immediate. To finalize the connection, wait 2-3 business days after initial setup for two small "microdeposits" to appear in your bank account then:
- Return to Admin Center > Acadeum Wallet
- Click Payment Settings
- Enter the exact amounts of the deposits to verify ownership of the account
- Result: Your ACH status will move to "Verified"
First Time Credit Card Setup
A credit card is required as a backup for USA institutions and as the primary method for non-USA institutions.
- Navigate to the Admin Center > Acadeum Wallet
- Click Payment Settings
- If you have already entered ACH info, scroll to the Backup Payment Method section
- Click Set up Credit Card
- Enter the card details and billing information
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Click Update to save
- Note: Credit cards are required for transactions between USA and non-USA institutions due to international banking limitations
Managing Roles and Permissions
If you cannot see the Wallet or Payment Settings, you may lack the necessary permissions.
- Financial Administrator: This role must be assigned via the User Management page in the Admin Center
- Role Management: For a full list of what different roles can access, see our Role Management Guide.
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