Zil is a financial technology company, not a bank or an FDIC member. Zil offers banking services through partnership with FDIC member banks Silicon Valley Bank and Texas National Bank.

FAQs

Everything you need to know so you can use Zil like a pro. You can browse the questions below to find what you are looking for.

What is Zil?

Zil provides online checking account services for your business needs.

What is a cloud-based bank?

A cloud-based bank utilizes advanced technologies to securely and efficiently deliver its services at your fingertips.

What do I need to access checking account services with Zil?

You can access Zil using a compatible device and internet connection. A unique user ID and password created by you while signing-up will give you access to the services.

Can I open a checking account with Zil?

Yes, you can open an online checking account for your business needs. The checking account is free of initial charges, monthly fees, or hidden charges. And you don’t need to maintain a minimum balance.

Why should I opt for Zil over any other online banking service provider?

Zil provides a free online checking account for your business needs. You can sign up for online service with Zil without any one-time charges or monthly fees. No hidden charges are applied, and no need to maintain a minimum balance.

What is a virtual card?

A virtual card is the digital form of a debit card. You can get instant access to a virtual card as soon as you apply for it. Virtual cards can be used to shop online or pay at stores that accept Visa cards and have contactless payment options.

Why would I need multiple business accounts?

You can apply for multiple business accounts for different needs or stick to one account. For example, you can use one account for making payments, one for receiving, and one for loans.

Can non American citizens open an online checking account with Zil?

Yes. Non American citizens can open an online checking account with their passport and business details (EIN number is required).

What is an ACH payment?

ACH (Automated Clearing House) is a network for electronically moving money between bank accounts. Setting up a direct deposit can help you receive payments faster, and you can make hassle-free bill payments.

How to add funds to cloud bank?

You can go to your external bank & send ACH to your Zil account. For now, you can fund your account via wire transfer, ACH & check deposit.

How to get virtual cards?

Go to CLOUD BANK
Select bank account & click MANAGE CARDS
Click New Card
Select Virtual Card
Provide card holder name, transaction limit, billing address, mailing address and click on SUBMIT

My transactions got declined while trying to fund into my PayPal or cash app using my Zilcard?

This transaction was declined as non-cash financial for funding service is not allowed. Basically, the card cannot be used to add funds to another wallet.

How I can receive payment in my Zil account?

You can receive payment either via ACH/Wire transfer either internationally or nationally. To get instructions click here

What is the debit card foreign transaction fees?

The fee is normally 1% from Visa. However, it can also vary from 1.5% to 3% if there is any other additional charges/mark up levied on top of this.

Can I use a virtual card to buy outside of the USA?

Yes, you can.

What is the default account limit?

There is no default account limit. Users can create free business accounts using Zil US with no minimum balance deposit or hidden fees.

When should one expect ACH cut-off times?

Same-Day ACH Cut-Off: 9:45 AM PST
Next-Day ACH Cut-Off: 2:45 PM PST
If you are receiving ACH Credit & Debit Transactions, we will ensure the funds are credited to and debited as soon as the RDFI receives the ACH instruction.

How does ACH Return work?

Filed by the RDFI, in the following scenarios:

  1. Not Sufficient Funds (NSF): If the bank account at the RDFI does not have sufficient funds to cover the debited amount, an automatic ACH Return is filed by the RDFI with the ODFI.
  2. Unauthorized Transaction: If the account holder at the RDFI requests a return to the payment due to an unauthorized ACH Debit transaction, an ACH Return is filed by the RDFI with the ODFI. Must receive the request to file the return within 24 hours.
  3. Incorrect Account: If the bank account at the RDFI is either invalid, closed, or does not exist, an automatic ACH Return is filed by the RDFI with the ODFI.

How does ACH Reversal work?

Filed by the ODFI, in the following scenarios:

  1. Incorrect Amount: If an incorrect dollar amount was credited to or debited from another bank account, then an attempt to reverse the transaction can be filed by the ODFI with the RDFI.
  2. Duplicate Transaction: If a duplicate of the same dollar amount was credited to or debited from another bank account, then an attempt to reverse the transaction can be filed by the ODFI with the RDFI.
  3. Incorrect Account: If the ODFI sends a payment to the wrong account, an ACH Reversal can be filed by the ODFI with the RDFI.

Why ACH Pull is disabled?

For now, the ACH pull is disabled by default. So you can’t connect external bank and pull funds directly from Zil App instead you can go to your external bank & send ACH to your Zil account. To get receiving instructions use click here