Distributions are made using the payment instructions identified for each investor account. Instructions are entered at the time you create an account or when you make an offer but can be changed at a later time. You can also define multiple payment options and switch between them as needed.
You manage distribution payments from the same area of the portal where you manage other details for investor accounts.
=> Select Investor Accounts from the menu
Define Payment Instructions
You can create a new investor account (click on New Account) and provide the payment method information at that time. Or, if you already have an investor account, you can select it and edit the payment method details.
Each time you make an offer, you are given an opportunity to review the default method, and you can create or change the payment instructions to be used for this deal.
Payment Methods
The funding options are:
ACH Direct Deposit
To set up ACH, you must provide:
Account Name
Bank Account Type
Account Number
Bank Routing Number
If you choose this method, keep in mind that:
The maximum amount for ACH direct deposits is $250,000.00
ACH currently supports U.S. Bank Accounts only
U.S. law and KYC/AML compliance requires verification of all users who are funding through electronic transactions - that includes you and your investors - which can take up to three business days
ACH transactions generally take 3-5 business days to complete
Mail Check
You can use the address set up for the account or specify a different mailing address for the payments.
Wire
To set up a wire transfer for distribution payments, you must provide:
Beneficiary Details
Financial Institution Details
Bank Account Details
Manage Payment Instructions
Once they are configured, you can switch between your defined distribution methods. The sponsor will send future payments using the method you select until or unless you change it.
Support Information
If you have more questions or feedback, please use the live chat in-app (located in the bottom right corner) or contact support@groundbreaker.co.