New Alternative Way to Deposit Earnest Money

There are new innovative ways now to deposit earnest money!    You no longer have to go to the bank and get a cashier's check or approve a wire transfer, or even write a check and deliver it to the title company!

Zoccam

What you need - 

~ A check is filled out (made out to the title company)

~ Name of title company and branch that will receive the deposit

~ Sale property address

~ Buyer name

~ Seller name (or can enter "unknown")

You need to download the app, sign in and create a passcode, but easily it walks you through the process and is pretty easy.   You write a check, take pictures of it with your phone, and in ten minutes you are done.    You get an email stating success that it was sent, and title will confirm receipt and send EM receipts.

Earnnest

This program works in a similar fashion, and both are "office specific".   When you write a check or have a cashier's check, you can deposit in any branch.   This is NOT the case with either of these programs.   You must identify which branch.

It works like an ACH withdraw from your account.    Seems like a great way to get earnest money to title!   This may be a great option to prevent wire fraud, until the scammers figure out a way to skew this too!