ACH Bank Account Setup & Funds Transfer

Updated 5 months ago by Sanjay Vora

Are you looking to add capital to your fund account or receive distributions from your fund manager? Follow these instructions.

Initial transfers must be via bank ACH, wire transfer or via check if the fund managers accepts checks.

Setting up the bank connection

After your investor account is setup with a fund, you can connect your bank account.

Setting up your bank account allows you to automatically send more to the Fund via ACH electronic transfer. The Fund Manager can also electronically send you distributions.

To set up the bank connection, follow these instructions.

  • Personal accounts
    • Go to Manage Accounts / Set up Bank Accounts
    • Select to add a bank. You will be sent a 2nd factor authentication code to your email.
    • After providing your authentication code, you will be requested to provide your last 4 digits of your social security number and your birthdate. This information is used by our financial provider to verify your identity.
    • After your verify is identified, you will then be able to connect your bank account. We utilize Plaid services to connect Avestor to your bank account.
  • Entity accounts - entity accounts (LLCs, Trusts with EINs, checkbook controlled retirement accounts with EINs) all required additional verification before a bank account can be connected.
    • Please provide your fund manager with the following information:
      • IRS EIN letter for the entity.
      • Names, address, full social security number and a color image of their drivers license of all beneficial owners of the entity (own >25% of the entity).
      • The fund manager will work with Avestor to get your verification completed.
      • Once your entity is verified, you will then be able to connect your entity bank account. We utilize Plaid services to connect Avestor to your bank account.

Sending money to the Fund

After your bank connection is completed, you will be able to go to the transfer funds page to authorize transfer of the funds from your bank account to the fund bank account.

ACH transfers can take up to 5 business days. If funds are required faster, the transfers page shows wire instructions which can deliver funds with 1 business day.

Receiving money from the Fund

After your bank connection is completed, you will be able to receive funds electronically to your account. You cannot pull money directly from the fund's bank account.

Request your fund manager to initiate an ACH transfer. ACH transfers can take up to 5 business days.


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