How to select wire and/or wallet payment options for a Private Issuance
Accepting Investor Payments as a Private Issuer
As a Private Issuer, you can accept payments from investors through their addy wallet and/or via wire transfer. Below is a breakdown of each payment method and the steps involved.
Accepting Funds via addy Wallet
Payments received through the addy wallet include EFT and Interac transactions processed by addy. Please consult your service agreement for any applicable fees.
Steps to Enable addy Wallet Funds
- Navigate to the "Money" tab within your issuance settings on addy Business and select the "Wallet" tab.
- Select the "Accept addy Wallet Funds" option.
- Investors will now be able to use their addy wallet to complete their investment.
Closing Process
- Once the closing process is complete, funds from an investor’s addy wallet will be transferred to your Issuance wallet.
- This transfer occurs only after the Directors' Consent Resolution (DCR) and Flow of Funds Agreement (FFA) have been finalized.
Accepting Funds via Wire Transfers
Steps to Enable Wire Transfers
- Navigate to the "Money" tab within your issuance settings on addy Business and select the "Wire Transfers" tab.
- Select the "Accept Wire Transfers" option.
- Provide your Wire Transfer Instructions, which will be shared with investors.
- Investors will receive these instructions during the investment process and upon completion.
By enabling wire transfers, investors can send funds directly to your designated account, offering an alternative to payments via the addy wallet.
Closing Process
During the closing process, you will need to sign the Directors' Consent Resolution (DCR) to issue the securities but you will not need to complete a Flow of Funds Agreement (FFA).
It is the Issuer's responsibility to ensure the correct amount of funds has been collected before completing the closing process.