Please note, the following information is only applicable if you order your checks via thirdfort.com
Source of Funds checks are billed once per transaction* and are comprised of either or both of the following tasks:
- Bank Statements
- Securely connects to your client's bank to retrieve statements via Open Banking. Bank statement copies will be requested from your client if bank linking is not possible.
- Source of Funds Questionnaire
- Obtains a full breakdown of funds for full purchase amount from client.
How we bill for Source of Funds
You will receive a Source of Funds charge if any or all of the above tasks are initiated. For example, if the automatic bank linking task is completed in isolation there is a charge, or if a SoF questionnaire is completed in isolation there is a charge.
If there are giftors involved in the transaction, the same logic applies to their Source of Funds checks (billed once per transaction).
For example, if you have three purchaser activities and two giftor activities under one file reference, you will only be charged for two Source of Funds. One charge for the purchasers and one charge for the giftors as seen in the below diagram:
*If you use our services directly via the Thirdfort portal, please ensure the file reference is exactly the same on all ID checks relating to the transaction. This is to ensure the Source of Funds checks will be grouped under one charge on your next invoice.
Need more help?
Please note, the above information may only be applicable if you order your checks via thirdfort.com.
Check out the other articles in this section: Billing, Legal and Data
These articles should answer most of your questions. However, if you have any further queries please click the live chat button in the bottom right of your screen to talk to a member of the client support team.
Furthermore, should your client have any queries about the process, our dedicated customer support hub will provide the answer to many of your client's questions. From here they can also chat directly with one of our consumer support team who can provide real-time help and assistance.