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The ACH Network is at the center of commerce in the U.S., moving money from one bank account to another through Direct Payment via ACH transactions. Each year, the ACH Network moves more than $40 trillion and nearly 23 billion electronic financial transactions, and currently supports more than 90 percent of the total value of all electronic payments in the U.S. As such, the ACH Network is one of the largest, safest and most reliable payment systems.

The Federal Reserve’s Automated Clearing House (ACH) timeframe for processing and settling payments is the same whether submitting it electronically (online) or physically delivering a check to the bank. It takes approximately four (4) business days (excludes weekends and Federal holidays) to settle and deposit the funds into the recipient’s bank account. TrustFunds makes this process much more secure than carrying around a paper check, and begins the depositing process sooner than checks are typically delivered to the bank. Remember, the 4 day process does not begin until the bank receives the check. This can save numerous days in the settling process by using TrustFunds.

With PayPal and Venmo, although payments through a variety of payment applications are electronic, it still requires the buyer in the transaction to ‘connect’ to the trust account holder’s bank account. It is highly unlikely that a Recommend Designated Trust Account Holder (DTAH) would connect its trust account to these applications.

With the bank transfer, most payments made via a bank’s bill pay service are paper checks that are issued by a third-party vendor. Often the amount of time it takes for the payment to be processed and mailed will result in an untimely payment. In addition, the buyer would have to input detailed information regarding the trust account holder’s account. With TrustFunds, all of the work is done for you!

TrustFunds provides a market-wide solution for your members by integrating into your MLS system as a core service. This greatly benefits your members by having the MLS research and integrate the product, resulting in a single tool in the market and greater market adoption. In addition, most of the transaction details are auto-populated from the MLS listing data for convenience as well as complete and accurate reporting.

We have worked with all major MLS platforms, as well as custom platforms. The heavy lifting is on our side, not yours!

Yes. A DTAH can have any number of trust accounts necessary to operate its business. TrustFunds is designed to direct earnest money payments from buyers to the correct trust account based on the management of the trust accounts. For example, a DTAH may have two trust accounts if licensed in two states; one trust account for transactions in one state and another trust account for transactions in another state. In addition, a DTAH may have different trust accounts for each office.

We take security seriously. TrustFunds maintains physical, electronic, and procedural safeguards that comply with or exceed industry standards to protect non-public, confidential information. Your bank information is encrypted at rest and in transit, and deleted as soon as the transaction has begun processing. If a paper check were used, anybody who sees the check (or a photocopy, photograph) has access to your account information. With TrustFunds, your account information is kept private and automatically discarded as soon as the transaction is processing.

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