Transfer and Payout

Performing an Investment Transfer and Payout (IL200XFER)

In some cases an investor may want to transfer a portion of an investment to another established investment or a new investment, while withdrawing the remainder. This is the purpose of Transfer and Payout. The Transfer and Payout function enables you to specify the portions of an investment to be used for each purpose. Investments receiving transferred funds will typically be demand notes, as most term investment notes cannot receive additional contributions.

To perform the transfer and payout:

• From the DDI Connect main menu, double-click Financial Services
• Double-click Investments
• Double-click Transactions
• Double-click 200 Transfer and Payout. You will see this screen:

The first step is to select or create the investment that you are going to transfer TO. If you are transferring to an existing investment, you can click the list or the binocular icon to search for the investment you are transferring to. If you are adding a new investment, click the New icon to launch the Investment Add screen:

If you need information on how to add an investment, reference this page: Adding an Investment

Once you have added the new investment, the system will populate that portion of the screen:

You will now select the investment that you are transferring FROM. You can type in the investment number, or you can click either the list icon or the binoculars to search for the investment you are transferring. Once you have located the investment, click Find. The system will now populate that portion of the screen:

The fields in the bottom portion of the screen have also become active for editing:

First, select the method for handling interest accrued on this investment. Click the drop down arrow to the right of the Interest field to see your options:

File:Transfer Payout 6.png

Your options are:

• Ignore - This will ignore all accrued interest and leave it associated with the old investment
• Transfer - This option will transfer all accrued interest to the new investment
• Payout - This option will pay out all accrued interest, based on the "Pay via" selection

If you have elected to pay out accrued interest, select the Pay via option. Click the drop down arrow to the right of the field:

File:Transfer Payout 7.png

Your options are:

• Daily Check - The system will create a check in the amount of the accrued interest
• Immediate Check - This option is no longer used in the system and should be ignored
• Offline Check - If a check has been cut to the investor outside of the DDI Connect system, select the "Offline Check" option. If this option is selected, a new field called Check # is displayed. Enter the check number for the payment to the investor
• Wire - If selected, this will create a wire to the investor for the amount of the accrued interest

Once you have selected how you will handle the interest, review the Transfer amounts fields to ensure that they are correct. If they are, click Save to perform the transfer. You will get a message stating "Transaction Successful". Click OK.