Payment Methods, Fee Structures, and Investment Requirements on DealMaker
DealMaker provides a range of payment options and has specific policies regarding fees and investment requirements. Below is a comprehensive guide to help you navigate these aspects of the platform.
Payment Methods
DealMaker supports the following payment methods:
Credit Cards: Visa and Mastercard are accepted. Discover cards are generally not supported for investment processing.
ACH/Bank Transfers: Direct bank-to-bank transfers are available.
Wire Transfers: Wire transfers are also supported, though availability may depend on the issuer’s settings.
When selecting a payment method, note that all options incur the same ancillary fee, so switching between methods (e.g., from credit card to ACH) will not affect the fee amount.
Fee Structures and Policies
All transactions on DealMaker are subject to fixed processing and broker-dealer transaction fees. These fees are built into the platform’s compliance and payment infrastructure and cannot be waived or reduced, even for users who have made prior investments.
Investment Requirements
Each offering on DealMaker has strict minimum investment requirements, which include:
Minimum Dollar Amount: A base investment amount that must be met.
Minimum Share Count: A minimum number of shares that must be purchased.
The platform will not allow transactions that fall below these thresholds. If the total cost, including fees, exceeds your target amount, reducing the share count below the minimum requirement will prevent the transaction from proceeding. To complete a purchase, the investment must meet or exceed the offering’s minimum requirements.
FAQs for Specific Scenarios
Can I use a Discover card? No, Discover cards are generally not accepted. Use Visa or Mastercard, or opt for ACH or wire transfer.
Will switching payment methods reduce fees? No, all payment methods incur the same fee.
Can fees be waived for frequent investors? No, fees are fixed and cannot be waived or reduced.
Can I adjust my investment to stay under a specific amount? No, investments must meet the minimum dollar and share count requirements.
By understanding these guidelines, you can make informed decisions about your investments on DealMaker.