Faqs / Registration
Registration
How can I open my account?
Easy! Just register your email here, follow the step-by-step process to upload Qualifications and then enjoy our services of sending money, receiving payments, automatic reloads, and payroll payments.
We are waiting for you!
What is required to participate?
To comply with all U.S. legal and regulatory requirements, Lite Fintech LLC requires establishing the identity of each user. This is accomplished through an easy-to-complete online application, which includes supporting documentation, depending on the type of user:
- Scanned image of passport or ID card
To conduct transactions on the Medopay Platform, you must register your bank account with a U.S. financial institution and ensure that it has ACH capability.
Once you associate it to your Medopay account, you will have to validate it to be able to operate with it, and to do so you will be able to choose among the following options:
-Online login: With this option you will be able to validate your account by accessing your bank directly from our platform.
-Microdeposits: With this option you will be able to perform the validation process in the “U.S. Bank Accounts” section, by uploading two microdeposits of less than $1.00 each, which will be credited to your account within a maximum period of 48 banking hours from the registration of the same in the Medopay Platform and may be identified in the account statement provided by your financial institution under the name “Medopay”.
How can I affiliate my US bank account to my Medopay profile through the banking login process?
It is very simple, we have provided the Bank Login option for you to enter your bank securely. In the “U.S. Bank Accounts” module, select the option “+ Add Bank”. Then select “Login to your online banking” (the best and fastest option). You will then be redirected to the page of our financial ally in the USA, who will connect you to your banking institution to validate your account(s) once you log in with your online access credentials. In order to complete the process you must have at hand:
- User name
- Password
- Phone number and/or email address you set up on your U.S. bank account.
Once your bank validates that you have entered the correct data, your bank account will be affiliated on our platform.
How can I affiliate my US bank account to my Medopay profile through the micro deposit process?
It is very simple, we have provided for you the micro deposit option, although it is the least recommended because it will not allow you to use the ACH instant transaction service. In the “U.S. Bank Accounts” module, select the “+Add Bank” option. You will then be redirected to the page of our financial partner in the USA, who will connect you to your financial institution to validate your account(s). Once you enter your bank account information, you will be able to register the bank account(s) you will use on the platform. Please note that the page is in English and you will need the following information:
- Owner’s full name
- ACH transaction routing number
- Account number Account
- Type and class
Once you are redirected to the page of our financial partner, indicate which Bank you belong to. Type its name and go to the end of the search. Then select the ‘Link with account number’ button.
Continue the process until it is completed and if you still have doubts you can watch the step-by-step tutorial.
Do I need to have a U.S. account to trade on the platform?
Currently yes, can I affiliate more than one bank account to my account?
Yes, you can currently affiliate up to three bank accounts of financial institutions located in the USA with ACH capability, as long as you are the primary account holder of the bank account. In addition, you will be able to make transfers from your bank account(s) to your Wallet and vice versa.
Can I use a US bank account of a family member or friend to make transactions on the platform?
No, in order to perform operations you must be the main account holder of the bank account you affiliate to your profile.
Can I update my personal information?
You will only be able to update your phone number. For security reasons it is not possible to make changes to the rest of the personal information provided during the registration process, it can only be modified in case of receiving a request from Medopay. If this is the case, we will inform you via email and enable the corresponding fields for uploading documents in your profile.
How is the credit or debit to a person or institution reflected in my bank account registered in the Medopay platform?
Debits or credits from your account to a person or institution will be reflected in Medopay’s name.
Do I have to be the owner of the account that receives the funds corresponding to the transaction I execute?
Not necessarily, you can include any account as a recipient of the funds, whether natural or legal person and preferably in good standing.
Are large volume transactions processed in the same way as other transactions?
To ensure the security of transactions over $10,000, we have arranged the wire transfer service and for this purpose, once you create a transaction for that amount, you will be contacted by an agent from the Operations Department who will guide you through the process.
What are bank transfers?
Refers to a transfer of funds made electronically through different methods, to local or global financial institutions.
How long does a bank transfer take?
A bank transfer can take up to 10 business days.
How do I add funds to my Medopay Wallet?
To add balance to your Medopay Wallet we offer you the following options:
- Transfer funds from the U.S. bank account associated with your profile.
- Receive funds from another Medopay user by sending them a “Request for Payment”.
- Automatic Recharges.
What is the payroll service?
Through this Service, the User can make payments to its collaborators and employees. The Medopay Platform offers the best options and tools necessary to manage and make such payments easily and securely.
Can I transfer money to my Medopay Wallet from other e-wallets?
In Medopay we are working to offer you as many alternatives as possible to make transactions. However, for the moment we do not offer the possibility to make this type of transactions. Soon we will have news about this service for you.
Can I make transfers through my Medopay Wallet?
Yes, with your Medopay Wallet you will be able to make transfers to and from the US bank account(s) registered in your profile. You will also be able to receive and make transfers to the wallets of other Medopay users.
For your security, when you make a transfer from your e-wallet to your bank account you will receive an email, through which you must approve the transaction, until you confirm it, the operation will not move forward in the system. You must also do the following:
- You will receive an email from our financial partner, immediately after the Medopay email called “Money transfer request processed”.
- You must enter your email address and locate an email sent by our financial partner called: Action Required – Disbursement Confirmation.
- Then click on the green button called “Confirm Disbursement”.
- You must do so within 24 hours of receiving the email.
What does the multiple transfer service mean?
It is a service through which you can simultaneously make several transfers whose funds come from your Medopay wallet to the Medopay e-wallet of clients or not of the platform. You only need to enter the following data:
- Name
- E-mail address
- Quantity
- Concept
You can do this manually or by filling out a file that we provide in excel (.xls) format. You will be able to identify these transfers individually in your “Transaction History” with a locator number.
Will the money in the Medopay Wallet earn interest?
No, under no circumstances will the money accumulated in your Medopay Wallet generate interest.
How can I see the balance of my e-wallet transactions?
The balance will be available in your profile from the 15th of the following month. You will be able to access it in the following way:
- Under “Medopay Balance”, select the “Account Status” option.
- Choose the month and year for which you wish to obtain the balance.
- Finally, select the “Download” option.
It is important to note that you will only be able to obtain the balance if you have made transactions during the month in which you are requesting the statement.
