Every time you make an offer, you will be asked how you want to receive your distribution payments. You can set up a preferred method at that time, or you can select a method you have already defined.
You can identify and configure your preferred distribution payment method prior to making an offer from the same area of the portal where you manage other details for investor accounts. You can do this when you create the investor account or you may choose to define the method (or methods) later on.
=> Select Investor Accounts from the menu
If you are adding details for an existing investor account:
=> Click on the Investor Account to configure
=> Click on Edit
If you are creating a new investor Account, click on New Account.
Scroll down to the area for Payment Instructions.
You have three options for receiving payments. You can set up one, two, or all three methods. Clicking one of the options shows you the information defined for that method (it will be blank if it has not been configured). Click the Configure or Edit button to bring up the form to add or update the details.
Payment Methods
ACH Direct Deposit
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
To set up ACH, you must provide:
Account Name
Bank Account Type
Account Number
Bank Routing Number
Contact your bank if you need assistance with the bank details.
Be sure to click Done and then Save.
Mail Check
You can use the address set up for the account or specify a different mailing address for the payments.
Be sure to click Done and then Save.
Wire
To set up a wire transfer for distribution payments, you must provide:
Beneficiary Details
Financial Institution Details
Bank Account Details
Contact your bank if you need assistance with the bank details.
Be sure to click Done and then Save.
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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.