Who can do this:
Coordinators and Co-Coordinators with permission to edit the transaction.
The Disbursement of Funds section identifies who will receive funds from a particular Flow, why the funds are being disbursed, and which sender or clearer is funding each disbursement.
If the transaction contains multiple Flows, configure the disbursements separately within each Flow.
Before you begin
Have the following information available:
The receiving organization or individual
The disbursement amount and purpose
The sender or clearer providing the funds
The intended transaction method
An individual contact for the receiver
Add a receiver
Open the closing or transaction from My Transactions.
Open the Flow you want to configure.
Locate Disbursement of Funds.
Select Add Receiver.
Search for and select the receiving organization or individual.
Select the appropriate participant type.
Enter the amount to be received.
Enter the purpose of the disbursement and any required reference information.
Under the funding-source field, select the sender or clearer from which the receiver will receive funds.
Select the applicable transaction method.
Save the receiver.
Repeat these steps for each receiver or disbursement line.
Add a receiver contact
After creating the receiver:
Open the receiver’s participant record.
Add an individual contact who is authorized to act for the receiving organization.
Confirm the person’s individual work email address.
Decide how the receiving account will be provided:
Invite the receiver to add or select and approve its own account.
Assign an account on the receiver’s behalf when permitted.
Allowing the receiver to provide and approve its own account is the preferred workflow.
Disbursements by check
If the selected transaction method is a mailed check, Basefund may request the payee name and mailing address instead of bank-account information. Confirm the address and the Payable To information before completing the disbursement setup.
Review the disbursement structure
Confirm that:
Each receiver is connected to the correct sender or clearer.
Amounts, purposes, and transaction methods are accurate.
The appropriate individual contact has been added.
The receiving-account workflow has been selected.
Any required signatures or approvals are configured.
Identity verification, account validation, and insurance
Identity verification and bank-account validation are separate security controls. Both must be complete for a disbursement to qualify for Basefund transaction insurance.
Assigning an account to a disbursement does not mean that it has been validated. Review the receiver’s identity-verification and bank-account statuses before finalizing the transaction.
What happens next
Invite the receiver to join and complete any required identity verification, account approval, bank-account validation, or signature actions.