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Change Account Payment Method

Update the Payment Method for an Account (investing entity) to change the default for distributions.

Jay Krause avatar
Written by Jay Krause
Updated over a month ago

The Payment Method determines the default for an Account used when executing a distribution.


Step-by-Step Instructions:

Step 1: Navigate to the relevant account using either the Global Search or the Accounts page.

Step 2: Review the current Payment Method under the Payments section. Select the ellipsis (three dots) to the right of the Account name and "Edit Details".

Step 3: Scroll to the bottom and select the Default Payment Type from the drop-down. The "Auto Payment" selection will send an ACH payment when possible and send a check if no linked ACH account exists.

Breakdown of the different payment options:

  • AutoPayment: When using this payment type, the system will look for an ACH bank account in the Investor's Account. If no ACH bank account is detected, the system will then look for an address to send a check to.

  • Manual: ACH: When using this payment type, the system will not send a payment to the Investor. The sponsor will set up and send an ACH payment from the sponsor's bank account to the Investor's bank account.

  • Manual: Check: When using this payment type, the system will not send a payment to the Investor. The check is set up and sent from the sponsor's bank account to the Investor's address.

  • Manual: Other: When using this payment type, the sponsor will send the payment directly to the Investor.


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