Basefund offers 4 primary transaction types, each designed to provide a secure and streamlined workflow for common financial scenarios. Understanding these transaction types will help you choose the right option for your specific needs.

Manage complex, high-value transactions with multiple participants, ensuring funds are securely received and disbursed on a defined closing date. These transactions can involve multiple receivers, senders, or clearers.

Real-world example: A real estate closing where a buyer, seller, mortgage lender, title company, and various service providers (attorneys, inspectors, etc.) all need to exchange funds securely. The transaction is completed only when all parties have fulfilled their obligations and the closing date arrives.

Set up secure, designated accounts for recurring payments, eliminating the need to obtain new secure instructions for each transaction.

Real-world example: A law firm that regularly pays expert witnesses or sends client refunds can establish an ongoing transaction account. This allows them to quickly initiate new payments to these parties without repeatedly requesting and verifying banking details, while maintaining security protocols.

Invite recipients to securely add, verify, and assign their account for a single transaction, ensuring accuracy and fraud protection.

Real-world example: A company issuing a one-time vendor payment for a specialized service can use this option. The vendor receives an invitation to securely provide their banking details, which are verified before the payment is processed, reducing the risk of payment fraud or misdirection.

Move funds between your own internal or external accounts with full validation and tracking, just like any external transaction.

Real-world example: A business owner transferring funds from their operating account to a tax reserve account at a different bank. The transfer includes the same security validations and audit trail as external payments, providing peace of mind and maintaining consistent record-keeping.

Each transaction type in Basefund is designed to balance security with convenience, ensuring your funds move safely while minimizing administrative burden.