EvoEstate and InRento Merger FAQ
Capraru Adrian March 31, 2022
Because we want to make the transition from EvoEstate to InRento as pleasant as possible, we have compiled a list of the most frequently asked questions and the answers to those questions.
This blog post will be divided into categories for more visibility and it will consistently update when new frequent questions are asked.
We hope that most of your questions and concerns will be answered in this FAQ.
Q: What will happen with my EvoEstate available funds?
A:Your EvoEstate available funds will be automatically transferred to your personal bank account connected to your InRento account periodically. You can find more information about this withdrawal process by pressing on this link.
This process will happen only after the set-up of your InRento account will be completed (linking a bank account to your InRento account and completing the KYC process if needed)..
Q: What does the process of setting up my InRento account consist of?
A: First, you will need to log into your InRento account with the same credentials used for your EvoEstate account.
After this, you might be asked to pass the mandatory KYC in case your document or verification is outdated.
Moving forward, you will be asked to choose one of the payment providers: Paysera or MangoPay.
You will then need to also complete the mandatory verification for the payment providers and complete some extra additional steps depending on the payment provider selected such as making a small deposit (for example €1) to your newly created IBAN account.
All this process should not take more than 10 minutes.
Q: What will happen to my EvoEstate portfolio?
A: Your EvoEstate portfolio will not be transferred to your InRento account. You will continue to use EvoEstate in order to manage your previous investments and use the Secondary Market.
Q: Will my InRento investments from EvoEstate be transferred to InRento?
Q: Where will all my interest and principal payments from EvoEstate be distributed?
A: The interest and principal repayments will still go through your EvoEstate account like before. The only difference will be that periodically, all the available funds that are in your account at a certain time will be transferred to your personal bank account connected to InRento after the set-up is completed.
Q: The “Withdraw” button from my EvoEstate account is missing. How can I do withdrawals now?
A: The withdrawal of the funds is an automated process and you are not required to do anything besides completing the set-up process on InRento and passing the KYC verifications. As soon as your account becomes eligible for the automatic transfer of the funds, the process will happen periodically.
Q: My EvoEstate available funds were just transferred. How long does it take for the funds to arrive in my personal MangoPay bank account connected to my InRento account?
A: The transfer of the available funds to a MangoPay bank account should not take more than 2 or 3 business days. However, if you choose to transfer the funds to Paysera, the transfers will be carried out much quicker.
Q: Are there any differences regarding the tax withholding from EvoEstate to InRento?
A: Yes, there are some important aspects regarding tax withholding. You can find some important information about taxes here.
Q: Is anything going to change regarding tax for my investments made through EvoEstate?
A: Nothing will change regarding tax for the investments that were made through EvoEstate. All the interest payments and principal repayments from the investment made through EvoEstate will arrive in your account like before. The only difference would be that if you had an account created on InRento and all the set-up steps were completed, the available funds will be automatically transferred to your bank account connected to your InRento account.
Q: How will the Secondary Market on EvoEstate work now?
A: The Secondary Market on EvoEstate will now work on a payment order basis. When you want to buy a project on the Secondary Market, a payment order will be generated for that particular purchase. You will then have to make a payment from your bank account to the details presented on the payment order. A very important aspect is to add the mentioned payment description exactly as it is and nothing else. There will also be a timeframe for which the transfer has to be executed in order for the purchase to be completed.
Q: Is there a fee for using the Secondary Market on EvoEstate?
A: The Secondary Market is absolutely free to use for any EvoEstate user.
Q: I have made a wrong transfer for the purchase of a project on EvoEstate’s Secondary Market (wrong payment details for the purchase). What will happen with my money now?
A: In case you have made a wrong bank transfer for a Secondary Market purchase on EvoEstate regarding the amount or payment description, that particular amount will be returned to your wallet in a couple of business days and the purchase will not be successful.
Q: Why is my IBAN not showing for withdrawal?
A: For the MangoPay accounts you will first need to make a small deposit (1 EUR) before being able to make withdrawals. After the deposit has arrived, you will be able to make withdrawals to your personal bank account from which the funds were sent.
Q: I am having difficulties uploading the requested documents for the MangoPay KYC. What can I do?
A: If you encounter any issues with the KYC process from MangoPay, you just need to send us an e-mail at firstname.lastname@example.org and we will help you with this process.
Q: Are there any fees for using the payment providers for InRento transactions?
A: There are no fees associated with using the payment providers on InRento.
Q: What are the main differences between MangoPay and Paysera?
A: The main difference between MangoPay and Paysera is the number of functions available and service speed- i.e. transfer speeds:
For MangoPay, deposits and withdrawals can take days and the IBAN created for your InRento account can only be used for deposits on InRento. This means that you will not be able to use that particular IBAN for anything else. You will also not be able to log into your MangoPay account outside InRento as there will not be one.
For Paysera, deposits and withdrawals can be instant with SEPA instant, additionally, you need to open an account where you will be able to do various actions such as using the payment provider for personal transfers, logging into your mobile app and checking your balances, opening new bank accounts in different currencies and so on. You will be able to link this Paysera account also to your InRento account.
Q: How long does the KYC process take for MangoPay and Paysera?
A: The KYC process for either MangoPay or Paysera should not take more than a couple of business days. There are situations when the KYC process is taking longer due to various reasons. In case the KYC process for either MangoPay or Paysera is taking longer than 3 days, we kindly ask you to send us an e-mail at email@example.com.
Q: I have already made a deposit to my personal MangoPay bank account connected to InRento, but the IBAN is not showing for withdrawal. What should I do?
A: In case you have already made a deposit to your personal MangoPay bank account connected to InRento and you are still not able to make withdrawals (IBAN dropdown is empty), we kindly ask you to contact us at firstname.lastname@example.org.
Q: What documents are required for the MangoPay KYC process for the Company accounts?
A: The following documents are needed for the MangoPay KYC process for the Company account:
1. Your identity proof;
2. Your company registration proof;
3. Your company articles of association;
4. Shareholder declaration;
The documents have to be sent to email@example.com.
Q: Is it possible to use Wise (TransferWise) as the bank account where I want to make withdrawals from my MangoPay bank account?
A: Unfortunately, Wise (TransferWise) is not accepted as the bank account where you would be able to make withdrawals from your MangoPay bank account connected to your InRento account.