Non-integrated Trust Account Banks
14-03-2017 04:41 PM
Since using the 'source account' is not very efficient nor practical.
- IE unable to bring Seller funds, unable to check/reconcile/balance :-what happens if customer deposits direct and amount/account is off by one digit?
- clawing back funds for complete a manual settlement means the source will only be refunded to the depositing party. They then might need to transfer back to your trust account... potential 6 business days delay. where the standard O&A merely allows for 3 business days grace.
So am hoping there might be a list of Banks that either do/don't have the PEXA trust account integration in place, in case a practitioner was considering changing their Bank Trust account.