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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 calls the payment provider's API (Dwolla) to initiate an ACH transfer from the selected FundingSource to the user's Wallet. It creates a Transaction record with PENDING status and updates the Wallet's incoming_balance.

  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 (e.g., "processed"), the Integrated Wallet Solution updates the Transaction status to COMPLETED, adds the amount to the Wallet's main balance, and decreases the incoming_balance.

  8. Notification: The Notification Service informs the Investor that the funds have settled in their wallet.

  9. Outcome: Funds have been successfully transferred from the investor's bank account to their platform wallet.