Do I have to pick financing or escrow forever?
Signup stores the service you choose. An administrator can change it later on your user record. The dashboard still includes both the Applications page and the Escrow page.
Does submitting a financing application approve the loan?
No. The application is pending until a reviewer approves or rejects it. A note from that review appears with the application.
When is the merchant paid?
Not when you open the escrow. The amount is held first. Payment happens when staff release a funded escrow to the merchant you named.
Can I cancel an escrow?
Yes, while it is still awaiting funds. After it is funded, cancel is no longer available. Ask for a refund through support, and staff can return the amount to your balance.
What if my balance is too low?
The escrow is saved as awaiting funds. Deposit enough to cover it, then choose Fund now. Nothing is held until that succeeds.
Why can’t I deposit or open an escrow yet?
Identity verification has to be approved first. Financing applications also require a confirmed Melio bank connection.
Where do withdrawal funds go?
To the bank you connect during verification. The dashboard does not collect a new account number for each withdrawal.
What is the corporate email for?
It is the address we generate for your account, and it is the login email you use on Melio when connecting a bank. You can read messages for it in the dashboard inbox.