Funding an account

There are two main ways to fund an account

1. Transfer in assets from an existing custodian
2. Deposit cash on the account directly using either a wire transfer or ACH

Deposit cash using ACH

Using these API calls, AET will initiate an ACH pull from the clients account using the details provided.

1. Create a deposit record - this will initiate the ACH pull from AET. Behind the scenes, this initiates the same business process as an investment. We will review the request using the normal investment review process to initiate an ACH pull.
2. To check the status of the ACH pull, use the get investment endpoint. The status of the ACH pull in this case is the same as the status of a normal investment.

Deposit queue

There are sometimes situations where you want to collect the account details and the deposit information before the account or user is fully approved. In that case, you can use the "Deposit Queue". You use the following API calls to "queue" up the ACH pull, so that, as soon as the account is approved, the ACH pull will be initiated.

1. Create a bank deposit queue
2. You can use the list deposit queue endpoint to get the status of a deposit queue record.

There are only two statuses for a deposit queue. Use the processed field returned from the "list deposit queue" endpoint to know whether the ACH deposit has been processed or not.

Wires

If the client prefers to wire us money, after the account is approved, they can initiate a wire transfer. The client must put the account number, the contribution year, and the word "Contribution" in the memo field of the wire transfer or it will be rejected by our system until a Deposit Letter is uploaded*.

For example, if the account number is T123456789 and the desired contribution year is 2024, the wire memo field must be: T123456789 2024 Contribution

Deposit statuses

The deposit status mirrors investment statuses:

• Draft
• In Process
• Compliance Review
• Approved
• On Hold for Corrections
• On Hold for Funds
• On Hold for Account Issues
• Rejected for Compliance
• In line for Funding
• Completed

Transfer in

To transfer an existing asset to AET..

1. Create an account transfer
2. Update the transfer
3. Submit necessary transfer documents
4. Submit the transfer
5. Get the transfer to see it's status

The possible transfer in statuses are

1. Closed
2. Canceled
3. Rejected
4. In Process
5. Waiting on Issues
6. Draft

When AET has an issue with the transfer in, the status is changed to Waiting on Issues. Check the notes field of the transfer in and use the update transfer endpoint to correct the transfer in as requested.