Paper checks have been used for ages to submit earnest money payments in real estate transactions, but the fact is that passing around a paper check, which includes account information, from a buyer, to agent, to broker or title company is unsafe. In a day and age where we can build computer systems strong and safe enough to protect our most valuable information, there is finally a way to protect home buyers’ private banking information when making an earnest money payment.
TrustFunds, an electronic earnest money payment system, uses multi-factor verification to do just this. Buyers and agents using TrustFunds rave about the time it saves, how easy it is to use, and most importantly, how safe it is. When home buyers use TrustFunds to make earnest money payments, all parties know the status of the payment, and that it is safe at all times. The buyer and their agent send and receive verified messages and TrustFunds’ software tracks the transaction until the funds securely reach the designated trust account. The only person who sees the buyer’s banking information is the buyer themselves.
The real estate and technology industry are advancing every day. The last part of the transaction to be digitized is the earnest money payment, and TrustFunds addresses that by offering a solution that is quick, simple, and above all, safe.