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Manager Platform Guide - How do I enable ACH for distribution payments?
Manager Platform Guide - How do I enable ACH for distribution payments?

ACH is enabled as a distribution method when you set up ACH for the Investment Entity

Joni Reeves avatar
Written by Joni Reeves
Updated over a week ago

Your investors always have a choice of requesting distribution payments by wire or check. If you want to give your investors a more efficient way to receive payments, you can set up ACH payments for a deal. When investors also enable ACH with their bank and select ACH as the distribution method for their investment, their distribution payments will be transferred electronically through Groundbreaker’s banking partner, Dwolla. When you use ACH, understand 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

In Groundbreaker, each offering has an investment entity which is where payments are managed. To set up ACH for fund transfers associated with a deal, connect a bank account to the Investment Entity created for the offering. Follow this same process for each investment entity that you want to set up for ACH, even when they share the same bank account.

=> Select Menu from the Home Dashboard.

=> Then select Investment Entities.

=> Click on the Investment Entity to enable.

From the Investment Entity Overview page, click on More Actions and select Manage Bank Account.

See this article for detailed instructions for setting up ACH.

Once ACH is set up for the investment entity, investors will see ACH as an option for receiving distribution payments. You should enable ACH when you set up the deal so that it is an option at the time prospects subscribe to an offering. If, however, you set up ACH later, investors can always revise their payment method and select ACH when you make it available.

Investors who connect their bank accounts and select ACH as the distribution payment option will receive their payments via ACH electronic transfer.

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