Bank Verification Of Funds
Proof Of Funds Account can be set-up within 24Hours
 

 

 

Proof of Funds & Credit Enhancement Program
 

 

Highlights:
 
  • $100,000 to $500 million (larger accounts syndicated)
  • Verification of Deposit and Bank Statements
  • SWIFT MT 760 / 799
  • Stand By Letter of Credit / Bank Guarantee / Certificate of Deposit
  • Money Market funds seasoned for up to six (6) months
  • Funded from a $5 billion hedge fund portfolio
  • Funds in an account under your name and signature
  • No Credit Check, Financials or Credit Score Required
  • Rates lower than 1% per month determined by account size and product service
Uses:
 
  • Net Worth Requirements
  • Liquidity Requirements
  • Show of Down payment
  • Bond Requirements
  • Blocked Funds for Investments
  • Cash Collateral
  • Escrow Deposit

 

 

 
Proof of Funds / Credit Enhancement Services
Tier 1
 
Domestic Joint Bank Account Service:
Investor who deposit the funds into one single Joint account.
 
This service can not send SWIFT MT 760 verifications, blocks, or guarantees, but may be able to send other accommodating and like actions that verifiably block/reserve the account.** Service is for 60 days with renewals allowed. Minimum $5M accounts.
The investor chooses the escrow service provider and reserves the right to change their preference of escrow service providers at their discretion at any time.
The following services apply:
 
  • Electronic Verification
  • Bank to Bank Verification
  • Phone/Fax Verification
  • Bank Comfort Letter
  • Account Statement
  • Tear Sheet
  • Dual Private Banker Signatures
  • Available Funds Letter
  • Block/Reserve Funds Letter
Procedures:
 
1.    Complete and sign it and send back with supporting documentation (2 forms of color ID with image blown up, articles of incorporation or good standing statement for corporate accounts, bank/escrow statement showing proof of placement fee)
2.    Email a detailed list of items and documents your service will require. Any specific language in a BCL, Available Funds Letter, Reserved Funds Letter, History of Funds Letter, etc will need to be submitted prior for approval.
3.    We prepare the service agreement and escrow agreement and send it to you within 24 hours of receiving the application (so long as all required bank letter text has been pre-approved)
4.    Once the agreements have been signed off on and countersigned you are to place monies in escrow with the escrow company as directed.
5.    Once the placement fee has been confirmed in escrow it takes about 48-72 hours typically to set up the account. Some days/weeks may vary.
6.    Banker will issue the account letter to the client. Once received the client and escrow agent have 24 hours (one business day) to verify the account by calling the banker to confirm the account is set up as represented.
7.    Once the verification has been completed the client must allow the escrow agent to release monies immediately.
8.    The service is open for 60 calendar days from the time fees are released. Renewals are completed by funding escrow within 5 days of the service expiring.
 
Note: Verification prior to fees being released from escrow is to be completed by the account signatory and the neutral Escrow Agent, not another third party such as a trade investment banker. Payment for the service is always evidenced and provided for by placing monies up front in escrow with the investor's choice escrow service. The payment for the service will not be contingent on the success of any third party transaction being attempted (e.g. real estate, lending, line of credit, public/private trade, investment, etc). The POF service shall not be used for unlawful transactions. It is always best to inform any third party that the cash collateral account is provided by an investor for a fee. ** other restrictions may apply
 
 Tier 2
 
Euro Cash Collateral Account with SWIFT MT 760/799 SBLC or Bank Guarantee:
Top Western and Private European bank cash collateral accounts set up with SWIFT verification for 30 or more.. international banking days. This account works best for those needing a European bank account where a Private Banker is needed and the account offers a whole boutique of services including SWIFT MT 760/799 bank guarantees. This is often the case for those engaging private investment trade opportunities.
 
Top World Banks
 
  • SWIFT MT 760/799 SBLC or Bank Guarantee
  • Electronic Verification
  • Bank to Bank Verification
  • Phone/Fax Verification
  • Attestation Letter
  • History of funds
  • Bank Comfort Letter
  • Account Statement
  • Tear Sheet
  • Dual Private Banker Signatures
  • Available Funds Letter
  • Blocked/Reserved Funds Letter
  • Use account to capture your trade profits
  • We Commercial Escrow or others 
  • Takes 3-5 days to set up after contract
  • $1M Minimum
Complete application and sign it and send back with supporting documentation (2 forms of color ID with image blown up, articles of incorporation or good standing statement for corporate accounts, bank/escrow statement showing proof of placement fee)
  1. Email the following information
    1. Contact information of your escrow company
    2. A detailed list of items and documents your service will require. Any specific language in a BCL, Available Funds Letter, Reserved Funds Letter, History of Funds Letter, etc will need to be submitted prior for approval.
From this point the Investor will issue a contract based upon your needs and the documentation submitted and prepare for escrow. Once the escrow contract has been agreed to and executed and escrow has confirmed receipt of your fee monies opening the account will be initiated. It takes approximately 5 business days to complete the transaction. Once the account has been opened the escrow agent/attorney is required to receive verification from the issuing and/or receiving bank (where SWIFT verification is done). Once your escrow agent/attorney is satisfied the service has been rendered and verified for authenticity he is instructed to release the fee monies.
The SWIFT bank guarantees and funds block may be issued as required for a year and a month and a day, but will be renewed before the 35 international banking days are up.
 
Tier 3
 
Hard Escrow Deposit:
Our investor deposits cash into choosen escrow or trust account for 30 days . The money must have a surety bond in place to ensure the monies will be returned at the appropriate time and way and protect against theft. Deposits $100K to $500 Million available. Rates start from .02%-.5% monthly.
 
Tier 4
 
Stand-By Letters of Credit, Bank Guarantees:
POF accounts ,SBLC, BG are issued on a leased/Purchase basis to the client for a minimum of 12 months. Fees are required up front for the entire year making this an expensive alternative to our other products. Payment arrangements can be made to pay the majority of the fee "up front" and the residual "on the back" as can be agreed to by both parties. This product is usually for those who are engaging in proof of funds or capability for contracts involving commodities such as D2, oil, gold, etc. Minimum 15M requirement
 
 
 
  
Call Today For Quote!
 
800-313-2410
  
 

Ovation Credit Services

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