When it comes to making an earnest money payment on a home, security is a top priority. Traditionally, paper checks were used to make earnest money payments, but as the real estate sales process has become more digital, a new way to make payments has arrived.
TrustFunds eliminates the paper earnest money check and provides an earnest money payment that is faster, more secure, and hassle free.
With Trust Funds, the entire earnest money payment process is completed online in a matter of minutes. The homebuyer no longer needs to fill out a paper check with all of their sensitive bank information for all parties to see. No more worrying that a paper check will change hands several times or be copied or scanned. The funds go directly to the designated trust account associated with the transaction.
When making an earnest money payment using TrustFunds, the homebuyer who is the only person who can see their account information. Their agent simply sends them a secure link and they follow the steps themselves. After the buyer enters their bank account and routing information, they can be reassured each step of the way that the money is being deposited correctly. As soon as the earnest money is deposited, TrustFunds displays an immediate confirmation on screen and also delivers an email to both the buyer, their agent, and the listing agent. Both agents have the ability to verify and see the status of the deposit at any time after the earnest money payment has been submitted.
Gone are the days of scanning, mailing or delivering paper checks and compromising the security of the buyer. TrustFunds brings earnest money to the digital age.