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Depositing Funds ​

Goal: To allow a user to transfer funds from their linked external bank account into their platform Wallet.

Actors: Investor

Steps ​

  1. Initiation: The Investor navigates to the "Wallet" section of the Investor Dashboard and chooses the "Load Funds" option.

  2. Source & Amount: The Investor selects one of their linked FundingSources and specifies the amount they wish to deposit.

  3. Confirmation: The Investor confirms the transaction details.

  4. Transfer Initiation: The Integrated Wallet Solution creates a deposit Transaction intent with created status and calls the payment provider's API (Dwolla) to initiate an ACH transfer from the selected FundingSource to the user's Wallet. After provider submission, it increases the persisted inc_balance reservation.

  5. Notification: The Notification Service sends a confirmation to the Investor that the deposit has been initiated.

  6. Monitoring: The Integrated Wallet Solution monitors for webhooks from the payment provider regarding the transfer status.

  7. Settlement: Upon receiving a success webhook, the Integrated Wallet Solution updates the Transaction status to processed, adds the amount to the Wallet's balance, and decreases inc_balance by the same amount.

  8. Failure or Cancellation: If the provider reports a terminal failure or confirms cancellation, the Integrated Wallet Solution records failed or cancelled and releases the inc_balance reservation. The balance remains unchanged for either outcome.

  9. Notification: The Notification Service informs the Investor of the processed, failed, or cancelled outcome.

  10. Outcome: A processed deposit transfers funds from the investor's bank account into their platform wallet.