Payments Deluxe

What DealMaker Provides:

  1. Top of the market digital payment options. No other platform allows you to collect payments digitally, in the most efficient way possible and match these payments to your investors in a streamlined manner.
  2. Matching of online and offline payments with subscription agreements.
    • Each payment received is matched immediately to the details of the investors’ subscription agreement.

 3.   Detailed Reporting:

      • A Reconciliation Report is created subsequent to each month the deal is active,  providing a summary of all deal activity that has been received, reconciled and closed
      • A weekly Unmatched Transaction Report, detailing payments received in your bank that require additional information to reconcile an investment, where applicable

    How Does it Work?

    • Subscription agreements are created and signed by investors on the DealMaker platform
    • Investor payments are either:
      • Offline - wires and cheques to issuer’s bank account
      • Online - credit card and ACH payments processed electronically
    • DM Payments team matches subscription agreements with payments 
    • DM Payments team creates weekly and monthly reports for you to review 

    What You’ll Be Doing:

    Onboarding

    • You will work with your customer success representative to complete your online payments application
    • Set up new bank account for offline payments (acts as deal escrow account)
      • It is required for the account to be for deal transactions only
      • If you would like an escrow account supplied, please contact your account manager and a referral will be provided
    • Connecting the account to DealMaker:
      • Ideal Method - provide DealMaker with read-only access to deal bank account via secure link; OR
      • Alternative Method - provide DealMaker with daily transaction report of deal bank account containing all transactions from prior day via DealMaker’s secure link 

    Ongoing

    • Review weekly Unmatched Transaction Report sent by Fund Reconciliation team confirming reconciled and non-reconcilable offline transaction. Respond to DealMaker on a timely basis (i.e. within 2 business days).
    • Review monthly Reconciliation Report.
      • Prior to marking investors “complete” on DealMaker AND issuing such investor securities, you are not allowed to remove funds from the deal escrow account.  You cannot spend this money until securities are issued. 
      • Reconciliation Report will include both offline and online payments. Online payments are processed through DealMaker but go directly into the customer's operating bank account when required conditions are met. These funds are available for use immediately once they hit your operating account (versus funds still in your deal account).
    • After accepting the Reconciliation Report, available funds from Deal bank account should be transferred to the operating account. 
    • Provide instructions to DealMaker on any refunds that need to be processed. DealMaker will gather the necessary information from the investors.

    What You Can Expect:

    Onboarding

    • Payments team to set up secured shared folder within one (1) week of signing deal and work with customer to get read-only access to deal bank account

    Ongoing  

    • Payments team reconciles transactions on a daily basis and provides weekly Unmatched Transaction Report highlighting unreconciled transactions for customer to investigate and provide insight 
    • Reconciliation team provides monthly Reconciliation Report by the 15th of the subsequent month 
    • Refunds: assistance processing refunds and obtaining refund instructions are available upon request
    • Please note that bank feeds are one (1) business day behind and will therefore have an impact on reconciliation services