September 2023
What:
On September 11th, 2023 we released a new feature enabling investors to add funds to the Vint platform. This feature, The Vint Wallet, also enables Vint to send distributions (proceeds from sale of assets) to an investor’s account on Vint.
In order to introduce this feature we onboarded a new partner, Dwolla (a leader in account to account payments); this required new terms of service (TOS), have users meet new password requirements, and in some instances re-verify identities and re-link payment methods. While not ideal, it is necessary to ensure a safe and secure investment experience.
Why:
From our Annual Survey, investors were looking for ways to hold funds in their Vint account for upcoming and future investments, preferred a more seamless distribution process, and wanted to explore auto deposits and investments in the future. The Wallet is the first step in that direction.
<aside> ❓ How It Will Affect You: All Users: Future investments on Vint will need to made via funds (available balance) in your wallet. To invest in an open offering, you will need to have an available balance. Funds may take 2-3 business days to show up in your account once transfer is initiated.
This decision was made to ensure investors across the platform are only reserving shares they intend to own and reduce failed transactions. Based on account activity, Vint reserves the right to remove this requirement from your account and has done so in a number of instance.
</aside>
Current Investors:
If you have made an investment in the past and accepted terms of service prior to September 11th - the wallet feature should be accessible in your account.
If you have made an investment in the past and did not get a chance to review or accept the terms of service prior to September 11th - you’ll be prompted to do so next time you login, you’ll also be asked to reset your password. After September 30th you’ll be asked to re-link your payment account.
Current Account Holders:
If you have accepted the new terms of service prior to September 11th, you’ll be able to access the wallet feature once a payment method is linked.