Frequently Asked Questions - New Lender Dashboard & Investing Experience

As you may have noticed, your Lender Dashboard looks a little different these days! We're rolling out these new changes to give you a better investing experience on Fund That Flip. Below are answers to several frequently asked questions to help guide you through this transition. If you have any additional questions, please reach out at ir@fundthatflip.com

 

How do I invest with my new account?

Approved entities will be available when making your investment. You may also add an entity while making your first investment with that entity. You will be able to select from any verified bank account or add an account while making an investment to begin the micro-deposit verification process. Fund That Flip also accepts wires.

 

Why is my existing entity missing?

If an entity with active investments is not included, please reach out to ir@fundthatflip.com with your entity name and we will work with you to get this entity transitioned.

 

What is an entity? I invest as an individual.

Approved entities are agents that may purchase notes from Fund That Flip. This means that you can use your Fund That Flip account to invest as an individual and with your LLC, IRA, Trust, etc. Investments are held by entities and each entity may have its own bank accounts.

 

How do I choose which account is paid interest?

Each entity has a default payment method. Before adding a bank account, the default payment method is the Fund That Flip Wallet. Once an account has been added and verified, you can return to your Lender Dashboard and set the default payment method on a per entity basis. This means that interest for all investments held by that entity will be paid to the selected default payment method.

 

Why isn't my existing bank account an option?

Bank information is obscured for security purposes. We are unable to transition your bank information on your behalf. You may re-add your bank accounts from your Lender Dashboard.

 

The Add button is greyed out. I can't add a bank account.

We are still increasing the browsers that we support. We recommend adding bank accounts in the most recent version of Google Chrome. If you are unable to add an account in the most recent version of Google Chrome, please reach out to support@fundthatflip.com.

 

Why should I link a bank account?

Linking a bank account allows you to control where your interest distributions are paid. If you do not link a bank account and select it as your default payment method, then interest distributions will instead be paid to your Wallet. Once an account is added and verified, you may withdraw funds from your Wallet to your bank account.

 

How are bank accounts managed?

Users can maintain multiple bank accounts per investing entity. Each entity has a default payment method to which all distributions will be paid. If an account is not added, distributions will be paid to your Wallet.

 

How can I add a bank account?

Add bank accounts from your Lender Dashboard. Click “Add Account” and enter the routing and account number. Once an account is added, micro-deposits will be initiated to your account. These may take up to 5 business days to be received. Once they are received, return to the account, enter in the values to confirm ownership of the account, and the account will be verified.

 

What are micro-deposits?

Micro-deposits are small deposits made to an account that allow an account aggregator to verify ownership of and access to the account. These transactions will be less than $1 and are required to enable use of the account on Fund That Flip. These transactions generally take 1-3 days.

 

How can I remove a bank account?

Email ir@fundthatflip.com with the nickname of the account you'd like to remove. 

 

What happens to my current investments?

Starting mid-April 2020, we will begin sending distributions to your Fund That Flip Wallet or the account that you have recently added. This means that your investing entity will begin receiving distributions to the Default Payment Method listed on your Lender Dashboard as soon as April 13, 2020.

 

Why aren’t my payments going to the account I added?

Be sure to set the account as your Default Payment Method on your Lender Dashboard. Payments made on or wafter April 13, 2020 will be paid to your entity's Default Payment Method.

What is my Wallet, and why and how should I use it? 

Each investing entity registered with Fund That Flip is provided a Wallet once the entity clears Know Your Customer (KYC) and Anti-Money Laundering (AML). Wallets can be used to receive interest distributions and to invest in deals. If you wish to receive interest distributions to your Wallet, you may set your Wallet as your default payment method. When using a Wallet to invest, your investment is assigned a same-day accrual date, meaning you start accruing interest the day that you invest. Funds can be deposited and withdrawn from your Wallet using your verified bank accounts.

 

Is there a way for me to create/manage a new entity?

New entities can be created when making an investment.

 

What happens if I archive an entity? 

Archiving an entity allows you to focus on your active entities. But don’t worry, your archived entity will still exist, and any active investments will still be paid to the default payment method for that entity. If you need to access your entity again, you can un-archive it to return it to an active status.



Learn more about setting up your bank account here.