How To: Auto Funding
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Written by Dani Nabors
Updated over a week ago

Introduction

Auto Funding allows you to configure a credit card to automatically deposit a specified amount of money into your OddBytes account when your account balance reaches a specified threshold.

What is needed in order to set up Auto Funding?

To set up Auto Funding, you must first have a credit card on file within your account and the card must be used in two successful transactions before it will be considered eligible. If the card has not been used in two or more successful transactions, then the option to enable Auto Funding will be disabled in the interface.

How do I set up Auto Funding?

To set up Auto Funding, please follow the steps outlined below:

  1. In the OddBytes Platform, open the navigation panel on the left and select the "Credit Cards & Funding" page.

  2. From the list, select the credit card that you wish to configure Auto Funding for by clicking on the card name.

  3. Click "Setup Auto Funding" to launch the setup wizard.

  4. In the first step, you will be asked to enter two amounts:
    โ€‹Automatically charge: This is the amount that you wish to have added to your account each time Auto Funding occurs.
    โ€‹When balance is below: This is the threshold amount that tells OddBytes when to run an Auto Funding transaction. When the total balance of your account falls below the amount indicated here, the card will be charged and the funds will go into your account.
    Once both amounts are entered, click next.

  5. Review the information that is entered so far. If the information is correct, click next to complete the process.

  6. OddBytes will verify the information and configure the Auto Fund settings. During this time, keep the Auto Funding Wizard open. Once the system confirms that everything has been completed, you may close the window.

  7. In order for the Auto Funding configuration to take effect, you must sign an agreement stating that OddBytes is allowed to run the specified charges on your behalf. The form will be sent to the email address associated with the account and can be signed digitally via DocuSign.

    1. If you update the credit card being using for Auto Funding (updated expiration date, for example), a new agreement will be sent to you to be signed. This must be done so that Auto Funding is enabled.

How do I cancel Auto Funding?

To disable Auto Funding, please follow the steps outlined below:

  1. In the OddBytes Platform, open the navigation panel on the left and select the "Credit Cards & Funding" page.

  2. From the list, select the credit card that you wish to disable Auto Funding for by clicking on the drop down arrow next to the card name.

  3. Next to "Remove Credit Card", click the red trash can icon to remove the card from auto-funding.

  4. If you wish to enable auto-funding on a new card, follow the steps here to set up another card.

  5. If you wish to disable auto-funding completely, under "Auto Funding Options", click "Terminate Auto Funding".

OddBytes requires every Auto Funding agreement to be renewed every five years from the date of signature.

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