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Payment Management - Setting your data
Payment Management - Setting your data

How to set-up and maintain the data needed to create distribution payment files.

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Written by Exempt Edge
Updated over 9 months ago

The Payment Management system allows EFT files and wire letters to be generated directly from the Exempt Edge system, providing a seamless payment solution for Issuers needing to distribute funds to investors. For this system to function correctly, some data preparation is required. This document outlines each of these steps.

Investor Contact Information

It is crucial to ensure that your investor’s contact information is up-to-date. While some payment methods require current contact information for the proper delivery of funds, this information will also be crucial to issuing tax receipts. It is absolutely worth it to spend some time reviewing this information before beginning your first Payment Batch, and should be monitored regularly to ensure it is up-to-date.

Investor Account - Details

For your investors’ payments to be processed correctly, the following information must be updated within the investor’s account:

Trust Company/Bank

Some institutions have many divisions, please ensure you have selected the right one

Account Type

This setting will not necessarily affect the creation of the payment file, but it will be extremely important when creating your tax receipt, therefore we recommend spending some time ensuring these are set correctly while you are reviewing this information.

Account Number

This is the investor’s account number with the Trust/Bank. This information will be included on the instruction list sent to the Trust/Bank to indicate where the funds should be deposited. This is NOT the investor’s bank account number for direct deposit of funds, the field for this information is located in the Electronic Fund Transfer (EFT) non-Instruction section.

Account Currency

At this time, all payment amounts will be indicated as CAD, regardless of the account or offering currency. Though this information is not required for the payment file to generate correctly, it is advised to ensure it is set correctly.

Investor Account - Payment Information

This section is used to indicate how the investor will receive their funds. In addition to indicating the payment method, this section is also used to indicate if the investor will be part of an Instruction payment, meaning that their payment will be aggregated with all other instruction payments and sent to the holding institution as a lump sum.

There are 4 payment options, as well as an Instruction setting:

  1. Electronic Fund Transfer (EFT)

    This payment method can be used to deposit funds directly to an investor’s bank account. Any payment sent via this method will require the following fields:

    • Institution Number

    • Transit Number

    • Account Number

  2. Wire

    Any payment sent via this method will produce a wire letter which can be used to pay a single investor. Any payment sent via this method will require the following fields:

    • Receiving Institution #

    • Receiving Transit #

    • Receiving Account#

    • Receiving Institution SWIFT Code

    • Receiving Institution Name

    • Receiving Institution Account Legal Name (the investor’s name as it appears on their bank account)

    • Receiving Institution Phone Number

    • Receiving Institution Address (suite + street address)

    • Receiving Institution City

    • Receiving Institution Postal Code

    • Receiving Institution Province

    • Receiving Institution Country

  3. Cheque

    Not currently supported.

  4. FundServ

    Not currently supported.

Instruction Payments

If the Trust in which the investors holds their accounts requires that all payments be sent to them as a lump sum with an instruction sheet detailed the allocation of the sum amongst investors, then set the Instruction toggle in this area to Yes and proceed to the next section.

Trust Information

When an institution requests that distributions be sent as a lump sum, referred to as an ‘Instruction’ payment, the institution’s payment information must be supplied. This information can be provided by accessing the Payment Manager module on the left hand-side, then clicking the Trust Instruction tab on the top right.

Creating a Trust Profile

To create a new Profile, click on the (+) Add New Trust Instruction. Please note that each Trust can only have one profile. If you wish to modify the information for an existing Trust, click the Edit button on the right.

The following information is required for both EFT and Wire payments:

  1. Trust

    To begin, select the institution from the ‘Trust’ drop-down menu. The selection in this field is mapped to the ‘Trust Company/Bank’ selection in the investor’s account, such that an Instruction payment for an account held with that institution will look to this Trust profile for payment information.

  2. Trust Information

    This section requires the contact information of the trust institution. The following fields are required:

    • Trust Name

    • Trust Address

    • Trust Suite

    • Trust City

    • Trust Postal Code

    • Trust Province

    • Trust Country

  3. Payment Details

    This section requires the trust’s banking details for deposit to their bank account. The following fields are required:

    1. Institution Number

    2. Transit Number

    3. Account Number


​The following information is only required for Wire payments:

  1. Payment Details

    • Financial Institution

    • Account Legal Name (this is the name as it shows up on the trust’s bank account, must be an exact match)

    • Financial Institution Phone Number

    • Financial Institution Address (including suite)

    • Financial Institution City

    • Financial Institution Postal Code

    • Financial Institution Province

    • Financial Institution Country

    • Financial Institution SWIFT Code

For more information about this feature, please see our articles below:

Creating a Payment Batch
Payment Status and Reconciliation
Payment FAQs
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