"Good Funds" Solutions for Escrow Companies
Instant Real-time Deposit!
- Finally, a "Good Funds" alternative to Wires, Cashiers Checks and Paper Checks. Same Day ACH is a real-time payments platform that allows for real-time certified digital payments that are immediate, irrevocable, intra-bank and/or inter-bank account-to-account (A2A) transfers that utilize a real-time messaging system connected to every transaction participant through all U.S.-based financial institutions. Funds are available for use by the receiver and real-time confirmation is provided to both you ("the sender") and receiver in seconds. Most Good Funds transactions are "Credit Push" versus "Debit Pull."
Our system is a leading payments service that can reach virtually all U.S. bank and credit union accounts and enable funds to be sent and received typically within seconds.
Features & Benefits
Same Day ACH has benefits for all parties involved in Real Estate Transactions. Our Services have benefits for the following 7 groups; Buyers, Sellers, Tenants, Property Management, Brokers, Agents and Title. Call us to see how we can benefit you: Escrow Companies
can now Receive and Send Good Funds over the internet using an integrated software solution or the Same Day ACH virtual terminal.
Escrow Company benefits include:
- Reduced calls / emails to and from "all the parties" of the Escrow: All parties to a "Same Day ACH" transaction receive text & email messaging. You choose who receives messages, Brokers, Agents, Transaction Coordinators, Sub-Escrow, Title, Lenders, etc.
- No Charge "per user": Same Day ACH is effective for both Small & Large Escrow companies.
- Administrative Control: Same Day ACH mandates an "Administrative User" who controls & reviews all transactions & "Users" at the Escrow company.
- Software Integration: Integrate your Escrow Management & Closing software with us.
- Online Earnest Money Deposits: No more "checking on Wires" or handling and depositing of Paper Checks & Cashier's Checks.
- Online Down Payments: No more "checking on Wires" or handling and depositing of Paper Checks & Cashier's Checks.
- Online Real-Time Reporting: Quit photocopying checks, receipts and escrow instructions.
- Funds Disbursement: All "Closing Disbursements" including Commission and Vendor Payments can be sent electronically.
- It's Fast: 24/7/365 access to funds anytime vs. several days for paper checks or ACH transfers to process.
- Accounts Payable: Escrow companies can now pay one-time and recurring payments electronically to their Vendors and other contracting parties.
Your Choice ~ Integrate your Escrow Management & Closing software system with us or, send us your API and we'll integrate with YOU!
Why use Same Day ACH?
You get the flexibility to securely automatically authorize, receive, pay, process, and manage Good Funds transactions directly from your integrated software solution or manually keying them into our Virtual Terminal:
Same Day ACH is EASY TO USE: Text or Email Buyers a link to the "Good Funds Wallet"©. The Buyer simply registers and enters their banking information. eCheck transactions, using bank login authorization, are the most secure method of funds transfer available.
Same Day ACH is SAFE: It is safer than cash or checks in protecting users against fraud. The platform uses transaction limits and cross-border blocks to avert money laundering.
Fraud Protection: Identify, manage and prevent suspicious or potentially costly fraudulent transactions with our customizable, rules-based solutions.
EASY TO USE: Text or Email Property Owners a link to the "Good Funds Wallet"©. The Buyer simply registers and enters their banking information.
- Instant - funds will be received in seconds.
- Flexible - send or receive one-time and recurring payments.
- Easy - it's all done online or via your mobile device, no need to visit the bank.
- Quick - takes seconds to set use once your company is approved.
- Secure - money goes directly into the recipient's account of choice.
- Convenient - funds can be instantly accessed and spent.
- Inexpensive - one of the cheapest on the market as there are no costs for the receiver.
- Automate Escrow Closing Payments (and other Account Payables)
- Automate Account Receivable Collection
- One-time and Recurring Debits / Credits
- The amount used to fund the transaction will be the total of the amount sent to be sent to the Recipient. Same Day ACH fees and any fees charged by the Originating Institution will be charged in a separate transaction.
- The Sender can fund the transaction using any deposit account at their Bank or Credit Union.
- The Funding Transaction can be initiated in a number of ways, including at our website's Virtual Terminal, a mobile application, QuickBooks accounting software or a Web-based integrated software.
Same Day ACH is FREE to Receiving Party: Your Recipients will never be charged enrollment or transaction fees.
Same Day ACH is FAST: 24/7/365 access to funds anytime.
Same Day ACH is EFFICIENT: The platform makes digital payments effortless and more efficient. We drive efficiencies and cost savings.Worried about Internet security? DON'T BE:
After a transaction is processed, you'll even receive an e-mail with amount confirmation and receiver information. Plus, our payment platform gives you the ability to manually key-in transactions anywhere there's an Internet connection.
"Loan Refinancing" Escrows with Same Day ACH are:
Sending money with Same Day ACH is:
QuickBooks Integration INCLUDED FREE!
QuickBooks® Integration: Same Day ACH specializes in the origination of moving money electronically. Use QuickBooks accounting software and our online virtual terminal gateway software to send and receive Good Funds transactions over the internet.
How Same Day ACH works for Escrow Companies in Receiving & Sending Funds
Working with two Financial institutions (i.e. the "Sender's" Financial Institution and the "Receiver's" Financial Institution), Good Funds money transfer services engage in two transactions to accommodate the money transfer between the Sender and the Recipient: a funding transaction and a payment transaction.
Step 1: Funding Transaction
Same Day ACH platform creates a Funding transaction (i.e. Credit Push) to move money from the "Sender's" Originating Financial Institution (the financial institution where the money is currently on deposit); transactions enter the payments systems from the sender’s bank through the "Good Funds Wallet"©.
Step 2: Payment Transaction
The Same Day ACH platform transfers funds from the Originating Institution, via the Good Funds Wallet© to the account identified by the Recipient at the Receiving Financial Institution. The Originating and Receiving Institutions must both have the ability to process electronic check transactions, (Good News: 99% of Financial Institutions have these abilities!).
We have fast, friendly support!.
Our in-house experts are standing ready to help you make an informed decision to move your company's payment processing forward. Allow us to offer and create an electronic payment processing program to provide you access to your funds in an expeditious manner.
Compare our service and prices to our competitors and
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Stop Having your Clients Go to their Bank for Wires & Cashier's Checks!
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Frequently Asked Questions
- Regulation E - Issued by the Federal Reserve Bank pursuant to the Electronic Funds Transfer Act (EFTA), pertains to ACH.
- NACHA Operating Rules - Issued by the National Automated Clearing House Association pertains to ACH.
- Article 4A of the Uniform Commercial Code (UCC) applies to applies to credit funds transfers only.
- Articles 3 and 4 of the UCC and Reg CC apply to checks.
Wires & Payment Orders are subject to UCC 4A
U.C.C. - ARTICLE 4A - FUNDS TRANSFER
- PART 1. SUBJECT MATTER AND DEFINITIONS
- PART 2. ISSUE AND ACCEPTANCE OF PAYMENT ORDER
- PART 3. EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK
- PART 4. PAYMENT
- PART 5. MISCELLANEOUS PROVISIONS
U.C.C. § 4A-103 (“‘Payment order’ means an instruction of a sender to a receiving bank, transmitted orally, electronically, or in writing, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary if: (i) the instruction does not state a condition to payment to the beneficiary other than time of payment; (ii) the receiving bank is to be reimbursed by debiting an account of, or otherwise receiving payment from, the sender; and (iii) the instruction is transmitted by the sender directly to the receiving bank or to an agent, funds-transfer system, or communication system for transmittal to the receiving bank.”" "Good Funds Wallet"©, (a fast credit push payment system) electronic bank transfers are not restricted like ACH transactions to amount, or account type, and work with 100% of US checking accounts for any amount. Electronic checks do not fall under NACHA rules or Reg. E, and instead are treated the same as paper checks although they never exist in paper form.
FINALITY OF PAYMENT FOR CREDIT TRANSFERS - PAYMENT FINALITY AND DISCHARGE IN FUNDS TRANSFERS: See http://scholarship.kentlaw.iit.edu/cgi/viewcontent.cgi?article=3669&context=cklawreview see pages 633-675
Same Day ACH Pricing
Remember, we offer several services and products that work with our Same Day ACH Processing platform. Whether you handle dozens of transactions a day or hundreds, we have the right software & equipment for you!
We provide ACH, EFT and Credit Card Processing all integrated into our software!