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Manager Platform Guide - How do I change payment instructions?
Manager Platform Guide - How do I change payment instructions?

You can manage the payment method and instructions from the distribution payment page

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

The investor provides distribution payment instructions at the time they subscribe to the offering. Sometimes, however, instructions become outdated or payment methods need to change. You can manage these situations when you access the distribution payments.

Payment Method is Missing

Although all investors must provide distribution payment instructions at the time they invest, there is a possibility that a payment is owed to an investor without a defined payment method. This most often occurs when there has been an ACH failure due to an invalid account. When Dwolla encounters an invalid account number or another issue with the investor's account, they will remove the funding source. When the payment instructions are missing, you will see the payment displayed with a warning message. Clicking on the down arrow next to the warning will display more details.

You can click Add payment method to set up valid instructions for this investor account if you have the information. Alternatively, you can ask the investor to update their instructions via the Investor Accounts page in the investor portal. Once a payment method is defined, the payment can be processed.

Payment Method is Incorrect

If you know that the instructions on file are invalid or have changed, or if the investor wants you to use an alternative payment method, you can make those changes from the distributions payment screen. You have two options when you click the down arrow next to the payment method.

Edit instructions - If you simply need to revise the current instructions, click on Edit instructions to bring up the screen where you can make your changes.

Manage Payment Method - If you want to change from one payment method to another, click on Manage Payment Method. From here, you can edit the instructions for a payment method, set up a new payment method, or change the payment default.

Once your changes are made, the payment can be processed.

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