Purpose: To assist Lenders with initial deposits into a Project Wallet
Time: 20 min
Access: Web & Mobile App
Web / Mobile App
A “build wallet” is a one-time use dedicated FBO Digital Wallet held inside our US Banking Partner, and it was created at the time of Activating the project. It is a real account and every build wallet has very own $250,000 FDIC Insurance coverage.
This account is the possession of the Owner, but only allows one-way transactions into the build wallet until the project is completed. Then any funds left over in the build wallet will be released by the Lender, and remitted to the Owner’s Wallet.
Both the Owner and Lender are able to put funds into the build wallet at any time.
From the Project Home Page you will find your Build Wallet on the upper left side showing both the existing Balance, an “Add Funds” button, and the Transaction History
Web Interface
Action: Click “Add funds”
Select any amount you wish to deposit into this project’s Build Wallet. You will not be allowed to deposit more than what is in your Owner’s Wallet.
Action: Input amount desired - then Click “Transfer Funds”
NOTE: The Platform will not allow you to exceed the amount you have
in your own personal Account Wallet.
Confirm Transfer
Another reminder that funds transferred into any Project’s Build Wallet will be dedicated for use only on that project, and withdrawal will only be available upon approval by the Lender.
If Successful, you will see the amount now available in your Project’s Build Wallet.
If Unsuccessful – please use the “? Help” Button at the bottom of the page. Or email us at support@buildwallet.com so we can get Customer Service to help get your business bank account connected.