Meet Neo, your AI-powered Co-GP.
By the end of this guide you'll have set up banking in Covercy One — adding the bank accounts your firm uses, choosing a default account, and assigning accounts to the right holdings so your distributions and other payments are ready to go.
Note
Setting up banking is a GP task. You need access to the investing entity whose banking you're managing. You can manage accounts from the entity's Banking page, and you can also add an account inline while you're working on a distribution.
Find the Banking page
Open the investing entity you want to manage and go to its Banking tab. The page is organized into two sections you can expand or collapse: Bank accounts, which lists the accounts available for that entity, and Holding bank account assignments, which shows which account each holding uses. Both sections open expanded so you can see everything at a glance, and the accounts list has a search field for finding an account quickly.
The Bank accounts table brings together the accounts for the entity's legal entities and investing entities in one place. Each row shows the account's details and which payment methods it supports — ACH, wire, or both. Accounts that an investor added on their side are marked with an "added by investor" label so you can tell them apart from accounts your team created.
Add a bank account
Use Add bank account in the Bank accounts table toolbar to open the account drawer. You can add an account in a couple of ways:
- Connect an account through your bank — link an account using the secure connection flow. Select to connect, then choose your bank and sign in through your bank's own window. While Covercy One gets the connection ready you'll briefly see Preparing..., and the connection completes without needing a second click. Connected accounts support ACH payments.