What transaction methods are available when participating in a loan?
Updated
by Steward Team
There are three transaction methods available when lending on the Steward platform:
ACH (Direct Debit)
ACH, or Automatic Clearing House, payment is an electronic payment method that is initiated directly through Steward's automated payment platform and clears in 2-3 business days. There is no fee for debit transfers.
ACH payment is currently available to lenders in the United States and outlying U.S. territories:
- American Samoa
- Guam
- Northern Mariana Islands
- Puerto Rico
- U.S. Virgin Islands
- United States Minor Outlying Islands
Wire Transfer
Wire is a method of transferring money from one financial institution to another. Wire transfers must be initiated manually with your bank and clear upon receipt. Your bank may charge an additional fee for every transfer.
Wire payment is currently available to lenders in the United States.
Steward Wallet
As a Steward lender, you have access to a unique digital wallet, which holds the returns of your participations when they are paid out. Money held in your wallet can be re-loaned to another project.
Learn more about your Steward Wallet, here.
