Our development team has been busy making improvements around GROUNDFLOOR. Last week, we told you about our new Loan Comparison Tool that makes it easy for you to compare and contrast details of each loan live on our site.
This week, we bring you Funded Accounts, a feature that makes it possible for you to transfer a lump sum into your GROUNDFLOOR Lender Account. This new feature allows you to make a one-time transfer to keep funds available for investing at any time through your Lender Account potentially saving you money from bank fees. See the step-by-step below.
To transfer funds into your Lender Account, you will first need to sign into your GROUNDFLOOR account. Once you've signed in, navigate to the "My Account" menu at the top of the screen and select "Investment Activity". You will land at the Investor Summary view shown below.
From here, click the "GRONDFLOOR Investor Account" tab to begin the funds transfer process.
After arriving at the "GROUNDFLOOR Investor Account" tab, click the "Initiate Funds Transfer" link displayed in blue.
You will have the option to select from and to which account you would like to transfer funds. If you have multiple bank accounts connected to your GROUNDFLOOR Lender Account, they will all display as an option to originate a funds transfer here. Select the appropriate accounts and enter the amount you wish to transfer.
Once you've clicked the "Next" button, you will arrive at the "Verification" step of the funds transfer process.
Clicking the orange "Transfer" button will initiate your funds transfer and a confirmation screen will appear displaying the amount of the transfer and a project date when the funds will be available in your GROUNDFLOOR Lender Account.