Security at TrustFunds
Our greatest focus at TrustFunds is the security of your client’s data. We go above and beyond industry standards to ensure data is handled securely from start to finish.
TrustFunds vs Paper Check
Electronic Earnest Money
Earnest Money Paper Check
Our TrustFunds platform offers layers of digital security far more advanced than the paper check. No more client account numbers or routing information floating around your cars or purses. No more paper copies sitting on your desk. TrustFunds’ electronic earnest money process ensures complete security for all parties.
Why is TrustFunds’ ACH process more secure (and convenient) than a Wire Transfer?
Shared information – There is no need for trust account holders to share their bank account information with buyers. In a wire transfer, trust account holders have to provide their account information in order for the buyer to route it to their account. This also eliminates the risk of a buyer sending funds to a bogus account by mistake.
Convenience – TrustFunds payments can be made anytime from anywhere, whereas wire transfers must be made from a physical bank branch.
Fees – TrustFunds transactions require a $5 convenience fee. Wire transfers are often more than $25.
Documentation – TrustFunds offers detailed documentation of payments on the Payment History Report. Wire transfers offer no documentation as proof of payment for the lender.
MLS Integrated – Agents access TrustFunds directly from the MLS, and all listing data is pulled from MLS data. This ensures that all property information is up-to-date, and funds direct to the proper trust account.
The tracking component…is probably the most valuable. Not having to worry about where the check went…or having to track it whatsoever… it’s just all right in your pipeline on the website.
Chad Dixon, Realtor – RE/MAX Results
[I like] the security of knowing it’s just done. You don’t have people’s check numbers floating around.
Janelle Murlowski, Realtor – Downtown Resource Group (DRG)
Earnest money is tracked and recorded the entire time, we know exactly when the client has made that payment, and we know it has been received on the other end.
Adam Duckwall, Broker – BRIX Real Estate
“It’s about time the real estate community has the option to stop driving paper checks from point A to point B. With TrustFunds, we now have a solution for the problem. TrustFunds has provided great support and communications to the title companies and brokerage offices that hold earnest money.”
“With the fraud happening in today’s world we are happy to partner with TrustFunds to provide a service that greatly enhances the security of earnest money. Also, there are many millennials that no longer carry check books to write an earnest money check and now there is no need!”
“I love TrustFunds! My clients always feel secure about the handling of their money and where it is deposited. They get a transaction receipt and both agents know that the contract performance is being fulfilled. It’s just a better way to do business for a Professional Realtor.”
“TrustFunds has been a HUGE benefit to my brokerage. My agents love not having to be responsible for keeping clients’ checks and my clients love the convenience. And, as a broker, I love that we are ALWAYS in compliance with our contract. “
“Before TrustFunds, getting the earnest money on time and tracking it was a time-consuming process. This simplifies that process so much. Agents have told me once they use it, they will never go back to the paper check process again.”