Basefund Secure Transactions is designed for high-value disbursements outside a coordinated closing. It provides a secure workflow for completing identity verification, validating receiving bank accounts, documenting approvals, and establishing transaction-specific insurance before funds move.
Secure Transactions can be used for one-time disbursements, recurring disbursements, continuous funding, and transfers between accounts controlled by your organization.
Secure Transactions vs. Secure Closings
Basefund offers two workflows for different types of fund movement:
| Secure Transactions | Secure Closings |
Best for | One-time, ongoing, and internal disbursements | Multi-participant disbursements coordinated for a set closing date |
Common uses | Debt service, construction draws, vendor and contractor disbursements, trustee disbursements, distributions, requisitions, escrow releases, and transfers | Municipal bond closings and other coordinated funding events |
Primary purpose | Protect individual or recurring disbursements | Coordinate the participants, details, approvals, and disbursements associated with a closing |
Available types | One-Time, Ongoing, and Transfer | Closing |
Pricing | Annual subscription | Per closing |
Choose Secure Transactions when you need to protect a disbursement that does not require a coordinated closing workflow.
Choose Secure Closings when multiple participants are working toward a defined closing date.
Both Secure Closings and Secure Transactions can contain one or more Flows. A Flow represents one connected path of funds and groups the applicable senders, clearers, receivers, receipts, and disbursements. Use multiple Flows when distinct funding paths or groups of disbursements should be managed separately within the same closing or transaction.
Secure Transaction Types
When you create a Secure Transaction, Basefund asks you to choose one of three transaction types.
One-Time
Use a One-Time transaction for a single disbursement or a batch of related one-time disbursements.
Common examples include:
A vendor or contractor disbursement
A capital call
An escrow release
A settlement disbursement
A batch of project-related disbursements
Choose this type when the disbursement is not expected to continue as an ongoing funding relationship.
Ongoing
Use an Ongoing transaction for recurring disbursements or continuous funding.
Common examples include:
Debt-service disbursements
Construction draws
Trustee or paying-agent disbursements
Scheduled distributions
Recurring vendor or contractor disbursements
Ongoing transactions keep related disbursements connected, providing visibility into the transaction history and helping identify changes to participants, account information, or disbursement activity.
Transfer
Use a Transfer to move funds internally or externally between accounts controlled by your organization.
Common examples include:
Moving funds between operating and reserve accounts
Interfund transfers
Moving funds between organizational accounts at different financial institutions
For disbursements to an outside vendor, contractor, or other recipient, use a One-Time or Ongoing transaction instead.
How Secure Transactions Work
From My Transactions, select Add Transaction.
Choose Secure Transaction.
Select One-Time, Ongoing, or Transfer.
Enter the transaction name, purpose, and target date.
Choose whether participant e-signatures should be captured for each disbursement or approval signatures should be collected on the transaction memo.
Add the required participants and disbursement information.
Complete the required identity verification and bank-account validation.
Complete the required identity-verification and bank-account-validation steps.
Retain the completed transaction record for future reference and auditing.
How Basefund Protects Each Disbursement
Identity Verification
Basefund verifies the individuals involved in the transaction, helping confirm that you are working with the intended participants rather than an impersonator.
Bank-Account Validation
The receiving account is validated before funds move, helping identify incorrect account information, ownership mismatches, and fraudulent instruction changes.
Transaction-Specific Insurance
Basefund transaction insurance is tied to the specific participants, receiving account, and amount associated with a disbursement. The required identity verification and bank-account validation must both be complete before the disbursement can qualify for coverage.
E-Signatures and Approvals
Organizations can collect participant e-signatures for individual disbursements and approval signatures on the memo when additional authorization is required.
Connected Transaction History
Basefund maintains a record of participants, verification activity, account information, approvals, and changes throughout the transaction lifecycle.
This creates an audit-ready record and makes it easier to identify what changed between related disbursements.
Important: Basefund does not hold, custody, or transmit funds. Disbursements continue to move through your organization’s established banking or paying-agent workflow. Basefund provides the verification, validation, insurance, and documentation layer around that movement.
When Should I Use Secure Closings Instead?
Use Secure Closings if the transaction:
Has a defined closing date
Requires coordination among multiple organizations
Includes multiple participants or recipients
Requires closing details, a closing memo, or coordinated approvals
Represents a municipal bond closing or similar funding event
Pricing and Access
Secure Transactions is provided through an annual subscription. There are no per-seat charges, so your organization can include the participants required for each disbursement.
Questions about which transaction type to use? Contact the Basefund team.