FAQ’s - Investors
HOW TO
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Your Email address is used as your Username to log in to the FunderJet Platform and can therefore not be
changed.
Your cellphone number is one of the ways that FunderJet can communicate with you. This cellphone number
is verified during the onboarding process. To change your number, it needs to be marked as ‘Unverified’ by
one of our Support Staff. To request your phone number to be Unverified, go to ‘Profile’ on the Menu and
Select ‘Personal Information’. Click the ‘Edit’ Button and then select the ‘Request to Change’ button above the
mobile number box. Once the Support team has unverified the number, you will be able to edit it on the
‘Personal Information’ tab under the ‘Profile’ Menu. You will be sent an OTP to the new number to verify it.
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Log onto the platform
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Go to the Client Centre
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Select Settings
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Click ‘Change Password’ Button
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In the ‘Current Password’ box, type in the password you are currently using.
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In the ‘New Password’ box, type in your new password, following the rules that appear when you hover over the ‘i’ icon.
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Retype your new password in the ‘Confirm New Password’ box.
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A message will be displayed that your password has been changed successfully.
The Add Funds page can be reached from the ‘Dashboard’ or from the ‘Wallet’ page.
You have two options when you add funds, either a regular EFT, which is a once off deposit, or a recurring EFT. More information on these options will be displayed if you hover your mouse over these options.
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Select your option.
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Complete all the required fields and click ‘Continue’.
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An email will be sent to you with all the information you will need to create an EFT or a recurring payment on your bank’s mobile app.
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Once the funds reflect in the FunderJet Bank Account, it will be allocated to your FunderJet Investment Wallet.
Funds in your Access Wallet can be withdrawn. Funds in the Investment Wallet must be transferred to your Access Wallet before it can be withdrawn.
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To Withdraw funds from your Access Wallet. Go to the ‘Withdrawal’ heading on the ‘Wallet’ page.
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The amount available to withdraw will be displayed.
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Type the amount you wish to withdraw in the box provided and click the ‘Withdraw’ button.
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A message confirming the amount to be withdrawn and the withdrawal fee that will be deducted
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from the withdrawal amount will be displayed.
To access your Investment Wallet Setup, click on the ‘Investing’ Menu option.
Select ‘Investment Wallet Setup'.
A list of all the available FunderJet loan Products is displayed. Funds in your Investment wallet will be matched to all the products on this list. If the ‘Auto-Match’ Button is ‘On’, the match will be accepted on your behalf and your funds will be used to fulfil a portion of that loan. You will receive an email with all the details of the match.
The default option for your repayment allocation is that the whole loan repayment received will be allocated to your Investment Wallet and will be available to be rematched to new loans.
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To change this, go to the ‘Overview’ tab on the ‘Wallet’ Page.
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Select one of the 4 Options under the ‘Wallet Repayment Allocation’ section and click ‘Save.’
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You will receive an email to confirm the change.
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This selection can be changed at any time.
If your FunderJet account is not matched to any loans, and there are no funds in your FunderJet Wallet, you can request to have your FunderJet Account Closed. On the ‘Client Centre’ Menu item, you can click on the
‘Close Account’ Heading and follow the instructions.
Monthly Statements can be downloaded by clicking the ‘Statements’ button on the ‘Dashboard’. Your
statements are password protected and can be opened by typing your ID number as the password, when
requested.
To view transactions for the month to date, you can access your Transaction History on the ‘Wallet’ Menu item under the ‘Transaction History’ Heading. You can then either select the ‘Investment Wallet’ or the ‘Access
Wallet’ from the drop down List to see the Transaction History for that Wallet.
MATCHING
FunderJet’s function is to create an environment where Investors on the platform can fund loans that are originated by Borrowers on the FunderJet platform. This is called matching. We have created, and are continually updating, an algorithm that matches Investors with loan applications in a fair, objective, and effective manner.
INCOME
A list of all the loans that your FunderJet Wallet has been matched to can be viewed on the ‘Matching page’ under the ‘Investing’ menu option. This list displays the portion of the loan that you have funded as well as the total repayments received to date broken up in a capital and an interest portion. It also shows the progress of the loans.
For a quick calculation of percentage growth, from inception to date, you can use the following formula: ((Committed Funds + Uncommitted Funds) – (Deposits – Withdrawals))/ (Deposits – Withdrawals) *100. All values needed can be obtained on your Dashboard.
All returns are paid without any tax being deducted. At the end of the tax year, we will issue an annual income tax certificate that reflects your annual interest earned. The responsibility is with you to determine what your liability is to SARS. You may have to register as a provisional taxpayer, if required by SARS.
We have a breakdown of the current fees under the legal notices on the Client Centre page.
DEFAULT
Occasionally a Borrower may miss a repayment. Most of the time they get back on track and continue to pay their loan installment. We do, however, contact the Borrower once an installment is missed and liaise with them to action repayment. Should a Borrower fail to pay for 3 months we will classify their loan as in default and start the collection procedure. Every attempt will be made to recover the funds. All funds recovered will be credited to the Investor.
CONTACT US
A ticket can be generated from any page on the platform, by clicking the ‘Submit a Ticket’ on the top right ofthe screen. Alternatively, click on the ‘Client Centre’ Menu option and it will open on the ‘Customer Service’Page. Create and send a ticket and one of our Support Team will contact you. Please note a request sent out ofbusiness hours will be successfully sent, but an agent will only be in contact with you during business hours.You can also contact us by sending an email to support@funderjet.co.za