EFT to Clients — Deposit Refund

October 3, 2024

We've released version 2.0 of the RealDesk platform which introduces the ability to send EFTs to clients. This capability will be rolled out in stages and will eventually allow the creation of EFT payments to third parties as well.

You must add a valid email address for a client prior to adding their bank account information.

The initial implementation of this feature covers the "Deposit Refund" payment type, formerly known as "Refund to Client". This payment can be configured to select either the Seller or Buyer. If the selected person is a client with valid EFT information, RealDesk will prompt to create an EFT for the current Trust account balance.

In future releases, we will implement support for other client payment types such as Excess Funds to Seller (Ontario only), and later, for third-party payees (withholdings, and clients of other brokerages).