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How does it work?

After WealthKernel receives a deposit from a user, we match it with the deposit expectation that contains the details of the source account. After it’s matched, the deposit will be marked as settled and booked against your portfolio and reflected in the balance. The funds will then be available to be invested.

WealthKernel supports Direct Debit payments via an integration with a relevant provider. To offer Direct Debit payments to your users, your customer-facing screens must comply with the Payment Services Regulations.  For more information about the UI guidelines for Direct Debits, please refer to our API Guides.

reduce misdirected payments

Confirmation of Payee

At WealthKernel, we use Confirmation of Payee as a form of bank verification to ensure that the client's money remains in a closed loop, coming from and returning to a bank account held in their name, reducing the risk of fraud. CoP is a more reliable way of verifying an account than traditional bank verification. It also reduces the operational burden for tenants by requiring less manual intervention.

Where is money held at WealthKernel?
What happens after payments to fund accounts are made from users to WK?
What happens if the user sends a deposit from a different bank account not affiliated with the tenant? 
How do we set up Direct Debit Payments for our users?

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Vertically integrated investing services, all available over API

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If you're interested in any of our solutions, you can fill out an enquiry form and a member of our team will get back in touch with you to discuss your proposition.