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Product Update calendar    Mar 15, 2024

Increase Cash Flow by Linking your Bank Account via Plaid

For existing Resolve merchants who are looking to take their business to the next level, we’re thrilled to introduce a new feature to help you boost your cash flow with Resolve. Through our partnership with Plaid, we're offering you the ability to link your bank accounts securely, which allows the Resolve Credit Team to consider increasing your credit limit. 

How It Works

Plaid, an innovative open banking solution, enables you to securely share your bank account transaction details with us. Getting started is simple:

  1. Access the Feature: Head over to your Account Settings page and navigate to the Banking tab.
  2. Connect Your Account: Select your banking institution and enter your credentials. Then, choose which accounts to provide access to.
  3. Real-Time Analysis: Once you've submitted your accounts, we leverage the transactions to gain a holistic view into the health of your business.
  4. Monthly Adjustments: Our expert Credit team analyzes your cash flow data and adjusts your Maximum Advance Limit (MAL) accordingly. 

Benefits of Linking Your Account

By utilizing our Plaid Bank Account Link feature, here are some key improvements on your Resolve experience: 

  • Increased Maximum Advance Limit: Enjoy a possible boost in your total MAL, providing you with more financial flexibility.
  • Increased Line Sizes: Offer larger lines to your customers,  empowering you to cater to their needs more effectively.
  • Higher Advance Rates: Qualifying merchants can unlock advance rates of up to 100%, streamlining accounting operations and reconciliation. 
  • Access to Exclusive Features: Stay ahead of the curve with early access to new and upcoming features within our platform.

plaid-link-2

Understanding Your Maximum Advance Limit

Much like your customers are assigned buyer credit limits, you, as a merchant, are assigned a Maximum Advance Limit (MAL).

Your MAL represents the maximum amount of advance pay credit you can receive on invoices at any given time. For a more detailed breakdown of how this looks in practice, read this handy Help Center article

To view your limits at any time, navigate to Settings > Banking tab. You can view your advance payments utilization in Settings > Usage.

Resolve’s Dynamic Advance Limits

Some factors influencing your MAL include revenue, margins, cash balance, industry, credit bureau data, and more.

As you issue invoices and receive payments, your MAL adjusts accordingly, providing you with ongoing support tailored to your business needs.

To request a limit change, please contact your dedicated Customer Success Manager. 

Seize the Opportunity

At Resolve, we're committed to empowering merchants like you to thrive in today's competitive landscape. Our Plaid Bank Account Link feature opens doors to increase cash flow, allowing you to streamline your AR operations and scale your business with confidence.

From the Resolve Help Center

Resolve - Head of Marketing

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