21 Sep What is “Pay per fund when the fund settles” on a withdrawal?

There is a setting on a Product: “Allow – Pay per fund when the fund settles”

When this setting is ticked, a withdrawal instruction on an investor account in the product will display the option to select ‘Pay per fund when the fund settles’ or ‘Pay when all funds settle’.

If ‘Pay per fund when the fund settles’ is selected, you will be allowed to do multiple payments on the withdrawal when each fund settles the sell.

For example, if the investor sells Fund A and Fund B and the money for the sell of Fund A is received, it will be paid out to the investor before the money for the sell of Fund B is received.

If ‘Pay when all funds settle’ is selected, the system will wait for all the cash for the withdrawal to be available and then do one payment to the investor.