Settling is the process of transferring funds to cover deposits, withdrawals, or transactions. DriveWealth offers two different types of settlement options bulk or cashless.

## Bulk

Bulk settlement is the act of settling** deposits or withdrawals** in aggregate across many customers' accounts within an organization. The aggregation of customers deposits and withdrawals are summed up. Total Bulk Deposits and Total Bulk Withdrawals.

To learn more about bulk, see [here](๐Ÿ”—๏ปฟ).

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## Cashless

Cashless brokerage is the act of settling **transactions** in aggregate across many customers' accounts within an organization. These transactions are the buying and selling of different securities or other types of instruments. The aggregation of transactions do net and offset within a single customer's account but not across customer accounts. The sum of these purchases and sales are Total Purchases and Total Sales.

To learn more about cashless brokerage, see [here](๐Ÿ”—๏ปฟ).

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## Settlement profiles \*new\*

A settlement profile is a way to segment different lines of business into different settlement buckets. There is a default settlement profile provided. There is no need to pass the `settlementProfileID` if there is only one settlement preference, it will inherently fall to the default profile.

Lines of business (LOBs)

Spendify is a wallet/banking institution who has customers in several countries; United States, Canada, India and Mexico. Although Spendify is a single company these LOBs move money differently and would like to settle these LOBs separately to reduce confusion among their operational teams.

**DriveWealth will configure `settlementProfileID` upon request.**

### Deposits

When making deposit requests, ensure you pass the associated `settlementProfileID` with the specific line of business.

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### Withdrawals

When making withdrawal requests, ensure you pass the associated `settlementProfileID` with the specific line of business.

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### Settlement reports

Settlement reports will now include `settlementProfileID` for each individual settlement profile.

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#### Check out the [event](๐Ÿ”—๏ปฟ) updates as well.