Title & Escrow Services FAQ

What types of payments can be processed ?

PayClix can process online client payments as an alternative to wire transfers or conventional cashier’s checks using electronic checks as known as an eCheck or ACH transaction. An eCheck is processed exactly the same way as a conventional paper check and is subject to the same bank clearing rules and regulations.

You can also use our PayClix ePay option to electronically make payments to suppliers and contractors such as building inspectors, pest control services, real estate agents, tradesmen and others involved in a property sale.

Why should we offer an online payment option to our clients?

When your clients use PayClix, you’ll save money. Instead of the traditional process of receiving paper checks or processing wire transfers, you can now send and receive payments electronically using the Internet. Every PayClix payment you send or receive saves you money. This calculator demonstrates your potential savings using your current wire expenses.

PayClix offers your clients the most convenient service available in payment processing. The ability to pay into escrow online or using a cell phone is an option busy people will use. Clients don’t need to come to your office or stand inline at their bank to arrange for their payments. It can all be done with a couple of clicks. Clients appreciate being given options that are convenient, easy and secure.

PayClix is a positive step you can take to improve your business image and reduce closing delays and funding issues.

Can you explain how using PayClix is different from traditional wire transfers ?

A conventional wire transfer typically results in the same day movement of funds between bank accounts using the inter-bank payment network. For this service, you pay a premium since each transfer requires manual processing. PayClix uses secure ACH electronic bank transfers for moving funds between bank accounts.

For outbound disbursements, there’s virtually no timing difference and PayClix costs less. Transactions submitted by noon Arizona time are submitted to the Federal Reserve for clearing within an hour and will be posted to the receiving bank’s Federal Reserve account that same day. Deposits made by 7:30pm Eastern time will be cleared the following morning.

Inbound escrow deposits take an additional two banking days to be funded. This is a requirement of NACHA, the Electronic Payments Association that administers ACH payments. Before the sender’s funds can be transferred to your escrow account, the availability of funds must be confirmed by the sending bank. After the two banking days waiting period, the transaction is final and can’t be recalled by the sender. PayClix is substantially cheaper and provides the same secure, reliable transfer of funds.

How secure is PayClix and how does it protect my client’s personal information?

PayClix is certified fully PCI/DSS compliant using the highest possible level of data security. That means we take your client’s security and privacy very seriously. We do not retain ANY client payment information on our servers and all transactions are securely encrypted. In addition, neither party has access to the account information of the other, so you are assured of information and banking privacy.

How do I sign-up to use PayClix?

When you’re ready to go, you can complete the online merchant application here. We’ll process your application and create your PayClix account. This usually takes 3 or 4 business days.
Once your account is ready, PayClix will email you a ‘Welcome’ letter with full information on how you can make PayClix available to your clients on your website, along with several sample letters that you can either print and mail or email to your clients to let them know about this valuable new service you’re offering.

Do I need to change my current procedures? Is there extra work using PayClix ?

NO! You will keep your existing escrow and operating bank accounts. Nothing changes. PayClix merely becomes the mechanism for moving the money between your escrow accounts and those of your clients and customers.
In fact, your bookkeeper/accountant will save time using PayClix since they will have less paper work when sending and receiving payments.
One thing you will have to do, is to notify your bank that you will be sending and receiving ACH payments through your escrow trust account. The bank needs to know this, in order to enable these features in your account profile. PayClix will ask them to confirm that your accounts are ACH-enabled before we start processing.
The other thing you really should do is to put a link to the PayClix payment page on your website, so that your clients can make their deposits easily. When you receive your ‘Welcome to PayClix‘ introduction letter, we’ll include the necessary information for your webmaster to insert a link to your PayClix payments page on your business website.

How does PayClix work with my escrow trust account?

PayClix recognizes that you have to maintain segregated accounts. Your escrow/trust account will send and receive ONLY client funds. All transaction fees will be charged to a separate operating account that you designate.

When a deposit is made to my escrow account, what information does the deposit report content?

Click here to view a sample daily transaction deposit report. If you need additional information, we can easily customize this report for you.

Can PayClix help tell my clients about the benefits of online payments?

Absolutely! We offer several marketing and promotional flyers, post cards and announcements that you can use to publicize the availability and benefits of online payments. You can either print and mail these marketing items along with your regular newsletter, or email them to your clients or when your client first comes to your office to open an escrow account, take the opportunity to tell them about your PayClix online payment service.

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