Manually Connecting Liability Accounts

Liability accounts in finance are classified as the money you owe to others. This can include things like loans you've taken out, bills you need to pay, mortgages on property, and any revenues or premiums that you've received but haven't earned yet. Sequence lets you connect your credit cards, loans, and mortgages and pay them automatically. Sequence offers a variety of connections to external financial institutions. These connections vary from fully automatic to completely manual, and are largely influenced by the willingness of the external institution to provide an open banking experience. In this article we will define the different types of connections and explain how to set them up in Sequence.

Manual Connection

A manual connection allows Sequence to display the balance of the external account or liability. However, payments are initiated externally using the payment details provided by Sequence. Essentially, your biller or external service pulls funds from Sequence, instead of Sequence sending the funds to them.

Setting Up a Manual Liability Connection

• Click on "Add account."
• Select "Liability account."
• Choose "Connect manually."
• Click on "Connect with Plaid."
• After connecting your account with Plaid, Sequence offers two methods for setting up payments with your external biller:
  • Debit card - Sequence lets you copy your card number, CVV, and expiration date to input on your external biller’s website.
  • Routing and Account numbers - Sequence displays your unique Account and Routing numbers to input on your external biller’s website.
• After copying your payment details, go to your external biller’s website and link Sequence as a remote payment method. The process varies based on the biller, but it should be straightforward.
• Some billers allow you to set up automatic payments. This is a great way to further automate the process, and we highly recommend it.
• Once Sequence is established as a payment method and you have configured automatic payments, you're set. Simply allocate funds in Sequence to your new liability account, and your biller will pull these funds according to their schedule.