Propiteer

Wallets provide our investors with a secure and convenient way to invest online and manage payments.

 

Your Wallet

Following registration and KYC approval, a Personal Wallet will be activated for you. This is a pre-paid electronic account where you can store and transfer money in a safe and secure environment. Wallets are powered by our service provider, GCEN/GCS*.

Regulatory authorities have strict rules governing the holding and/or control of client money. GCS is licensed to hold client money for the purposes of investment and trading.

 

How do I get a wallet?

During registration, you will be taken through the Know Your Customer (KYC)** and Anti-Money Laundering (AML)*** process using GCEN/GCS, our service provider. Once you have passed the KYC and AML process (this can take up to 24 hours), a Personal Wallet will be activated for you. This allows you to add personal funds, making you ready to invest.

Your wallets are managed through the Propiteer website in the ‘Investor Dashboard’ section by selecting ‘Manage Wallets’.

You can choose to invest through your company by activating a Corporate Wallet once you have registered as an individual member of Propiteer. To do this, simply visit the ‘Investor Dashboard’, select ‘Manage Wallet’, then ‘Add Corporate Wallet’.

 

How do they work?

You can load money into your wallet using your debit card, credit card or via a bank transfer. If you select bank transfer, it is important that you quote the unique, one-off bank reference number generated by the website to avoid any delays in processing funds.

Your capital and interest will be paid back into your wallet. This can be re-invested or transferred to your bank account.

 

Topping up your wallet 

Once your KYC has been approved, you’ll receive an email from Propiteer informing you that you are now investment ready and your wallet has been activated.

To complete an investment with Propiteer (excluding SSAS/SIPP investments), you first need to load the funds to your wallet. You can choose to load your wallet via bank transfer or debit card:

• Debit card: You can load a maximum of £10,000 into your wallet per day.

• Bank transfer: There is no limit, though if you choose to load more than £100,000 in one transaction, you will need to provide proof of wealth documentation (link to blog). This is a requirement of the FCA to avoid money laundering.

Once you have requested to load your wallet via bank transfer, we will send you an email with the necessary bank transfer details including your reference number, which you must include.

You will need to provide source of wealth/source of funds documentation if you top up your wallet with more than £250,000 in a 365 day period (starting from the date your wallet was activated).

Please note that we cannot accept funds from BSI Bank Switzerland under the instruction of our banking partner, GCEN/GCS

 

Withdrawing funds

If you wish to withdraw money from your wallet, you can do so at any time and into an account of your choice via the Investor Dashboard.

To do this, select ‘Withdraw’ in the ‘Manage Wallets’ section and follow the steps. A 6-digit code will be sent to your phone which you need to enter to start the withdrawal process. From here, enter the bank details for the account you wish to transfer funds to.

All withdraws are moderated for security purposes and will require one up to three working days to be processed. Oversees withdrawal requests typically take longer to process than UK ones.

 

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*GCEN/GCS

Global Currency Exchange Network (“GCEN”) provide identity checks and other services to Propiteer Limited. You can view GCEN’s privacy policy here

Global Currency Exchange Network is authorised and regulated by the Financial Conduct Authority under the Payment Services Regulations 2009, FRN 504346 and is a Money Services Business, regulated by HM Revenue & Customs (“HMRC”) under the Anti Money Laundering Regulations 2007 (12137189).

 

**KYC (Know Your Customer)

(KYC) checks are performed to ensure that we have gathered all relevant and necessary information about our customers to suitably and prudently manage risks.

 

***AML (Anti-Money Laundering)

(AML) checks are performed in accordance with FCA compliance. They are an essential component of KYC policies and work to prevent identity theft, money laundering and financial fraud.