My payment is taking ages to land
Payments
It’s understandable that, especially for time-sensitive deals, you are keen to know the status of your payment and whether Odin has received it.
We have a near-100% acceptance rate for payments, and generally-speaking the only times we have issues are when transfers are:
1. Sent from ‘high-risk countries’
2. Blocked by the sender's bank
3. Held by an intermediary bank
Odin runs a payment reconciliation every morning, and this must be complete to comply with FCA regulation - we cannot have a single penny unaccounted for. Once payments land, they are reconciled the following day during the morning reconciliation process.
Odin keeps a log of all irreconcilable payments that come through without a reference or a payer name and actively resolves them, so please rest assured we will never ‘miss’ your payment. If a payment is unreconciled for more than 10 days because we cannot match it to an investment, it is automatically "bounced" and returned to sender.
If you wire without a payment reference, please contact our Customer Support team and flag this. That way, when the payment lands, our Deal Operations team will have a shortlist of investors to cross-check non-reconciled payments against.
If it’s been over 5 business days since a transfer was made and Odin hasn’t received it, we can raise the issue with RBS (our banking partner for investor transfers). To do so, we require an MT103 from the remitting bank. Your bank will know what this is. Once you've obtained it, please get in touch via our chatbot or hello@joinodin.com so we can forward it to our banking partner.
If your bank requests evidence for the transfer, you can share your transfer instruction PDF from the platform, which is designed to function as a capital call. Failing that, Odin can arrange for a director’s resolution letter to be drafted which confirms the transaction and the relationship between Odin and the investor. This can be requested from our Customer Support team if other avenues have been exhausted.
If you didn’t transfer enough, or want to increase your commitment, you can simply execute a second wire using the same transfer instructions and payment reference. Once reconciled, the total received will update in Odin.
If you don’t hold a bank account in the currency that the deal is denominated in, or have previously encountered issues with transferring to Odin, our advice is for you to create a bank account with Wise or Revolut, which will enable you to wire quickly and easily in any of the three currencies Odin currently supports deals in.