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Proof of Transfer (POT) Guidelines

The following guidelines serve as a standard for accounting to efficiently review and verify the receipt of transactions. Including the specified information in the proof of transfer will facilitate and expedite the transaction review and verification process.

  1. Accepted Forms of POT
    All forms of POT should indicate the required information listed out on step 2 below. We will accept the following forms of Proof of Transfer (POT):
    • Bank Transfer Confirmations: A document or full screenshot from the bank that clearly shows the transaction details, dates, name, and amount.
    • Transaction Receipts: A formal receipt provided by online payment platforms, confirming the transfer receipt 
    • Wire Transfer Details: Shows the confirmation/completed from the bank or payment service showing that the wire transfer was successful (must show the full transaction details dates, name, and amount).
  2. Required Information on the POT
    The following details must be clearly visible and aligned on the POT document:
    • Sender’s Name: The full name of the person or entity making the transfer.
    • Transaction Date: The date when the transfer was initiated or completed.
    • Transaction Amount: The exact amount of the transfer, shown in the relevant currency.
    • Beneficiary Bank Name: Indicates the bank name that the funds were transferred to
    • Beneficiary Account Name: Indicates the account name of the Beneficiary
    • Beneficiary Account Number/IBAN: Indicates the account number or IBAN of the Beneficiary
    • Beneficiary Account SWIFT: Applicable if it was an international payment
    • Routing Number: Applicable if it was a domestic payment (U.S)
    • Sort Code: Applicable for domestic transfers within the U.K
    • Recipient Reference: According to payment instructions, this should be the Investors Name
  3. Additional Conditions or Verification Steps
    • Clear Visibility: All required information must be clearly visible and legible on the document. If the document is blurry or cropped, it will not be accepted.
    • Matching Details: Ensure that the sender’s name and transaction details match those provided by the recipient to avoid discrepancies.

Verification: If needed, we may ask for additional verification steps, such as a direct confirmation from the bank or MT103 to ensure the legitimacy of the transaction.

Additional Notes:

  1. Payment Discrepancies: If there are any discrepancies between the Proof of Transfer (POT) provided and the banking details issued by the Issuer, the payment may not be successfully received. In such cases, the Investor is advised to promptly contact their bank to initiate a trace of the payment.
  2. Account Number vs IBAN: For countries that do not utilize the International Bank Account Number (IBAN) system, a standard account number may be sufficient. However, for most international transfers, an IBAN is required to ensure successful processing.
  3. Transfers from UAE: In the United Arab Emirates (UAE), the use of an IBAN is mandatory for both domestic and international transactions, as per regulations set by local banking authorities.