The choice depends on your country of residence and the rules in your company. Please be aware that service fees may apply for some of these choices, and your personal bank may impose a charge for you to receive funds electronically or by wire.
Here are a few examples on how to receive net proceeds:
- Cheque/Check by mail: Can be issued and mailed to the mailing address on file in your Shareworks account
- Electronic Transfer:
- Electronic Funds Transfer (EFT): for participants with Canadian bank accounts, you may request an electronic funds transfer to deliver net proceeds to your bank account
- ACH (Automated Clearing House): for participants with US bank accounts, you may request an Automated Clearing House payment to deliver net proceeds to your bank account
- BACS / SEPA: For participants with UK bank accounts, you may request a BACS (GBP) or SEPA (EUR) payment
- AUD: For participants with Australian bank accounts, you can request a Direct Credit (AUD) payment
- Wire to account / International Wire Transfer: Funds can be electronically wired to your bank account as specified during the transaction process.
NOTE: It is extremely important to enter your financial information accurately because EFT/ACH transactions do not have tracking numbers, and if a transaction is rejected by a bank, there may be a delay of 5 to 10 business days before the funds can be re-issued.
Wired funds can be easily tracked if there are any issues with your financial information. Net proceeds are typically credited to your bank account shortly after the settlement date of your transaction.