Proof of Funds – Four providers $100,000 to $500,000,000

Proof of Funds
Many times clients do not have the Proof of Funds that a funding source requires. We have a service that provides $100,000 to $200,000,000 and recently closed a $500,000,000 Proof of Funds for us. Each case is individually underwritten and the fee is determined by length of time the funds are required and certain risk factors. We close these quickly – two business days.

This came in yesterday from our CO POF Source:
We offer full cash account and proof of funds for clients for an upfront fee. Typically these products are available for 60 days per fee. The fee varies as we have several providers and investors we work with. The accounts are electronically swiftable and verifiable. We can in some cases do overseas funds. Typically we can have accounts created in clients names in 3-4 days at maximum. These are not only for show purposes they can be blocked by the client in most cases bringing a much higher degree of flexibility to the instruments for various uses. We typically don’t like to do accounts for under 100m but we do have the ability. 100-500m are typical client needs. Funds are held at different banks — but we have been working with Wells Fargo a lot recently but do have other major US banks available depending on the source we engage. We do have some ability to do overseas banks like Royal Bank of Canada, etc. We work with great speed and care once clients have wired the funds for the initial 60 days.

I would like to stress that our role is to ensure delivery of clean and useful cash accounts/POF instruments. We will not take responsibility for what the client does with the instruments. We love to assist but it is not our role to educate or facilitate back end transactions, so any help we render in this area is above and beyond what we are responsible for. Due to there being a lot of window shoppers, lets make sure we are working with serious, financially sophisticated clients who have funds and are ready to move them to get started.

Update February 4th:

Can you provide a step by step, sample contract, sample verbiage of swift form ?
Will they swift via MT700 ?
What are the fees?
Many questions.  If you can, please provide as much as possible, want to check with a
client who is  very interested in POF, depending on info they can provide.
Also, have you been able to use these guys ? closed successfully? High confidence in
their ability to come through?
Wells Fargo and swifting are very important aspects, eager to find out more.

Thanks, I look forward to hearing from you.

Kind regards,


Absolutely have closed these cash accounts. Busy handling clients we have currently. I will get back to you but things are changing as we are working on improving the structure. We are the ones pulling down the accounts so I feel very confident.

Fees are also changing due to clients doing many procedures for one account. 100m would cost 2.7 or so for 60 days. Rough estimate. It does depend on what the client requires.  The bank the client is working with will dictate what procedures are possible. Mt799s are usually possible and in some cases more can be done. No 760s with US funds, same goes for pinging. Verbiage is generally provided to us by client. We are looking for educated clients.


This came in Wednesday February 11th from a new POF source who came highly recommended from a POF provider who we know:

Tier 1
Domestic Bank Account Service:
US Domestic deposit account with Wachovia/Wells, Wamu/Chase, and Bank of America
Account can be verified in person at any branch, via the 800 number by any representative, or by contacting the private wealth banker assigned to the account. It can be verified internally and externally electronically, and bank to bank. It cannot send SWIFT MT 760 guarantees,
but may be able to send other accommodating and like actions that verifiably
block/reserve the account. Service is for 30 to 60 days with renewals allowed.

Minimum 1M accounts.  Escrow with Fidelity National Title. 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 _ Online 24/7 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 _ Block/Reserve Funds Letter
_ Deliver Block/Reserve Letter via TELEX bank to bank _Internal bank wire Block/Reserve

Fee Schedule   60 DAY TERMS
The Provider and his primary Investor for the TIER 1 product had a meeting February 11, 2009. In light of the rapidly deteriorating banking situation and Wall Street, the Investor has dramatically changed pricing for the TIER 1 offering.

Effective immediately, here is the new pricing matrix for the TIER 1 product:

$1 M – $50 M  :      4 %
$50 M- $100 M  :    3.75%
$100 M –  $500 M :  3.5%

Tier 2
VOD Money Market Trade Account:
This 60- day account is backed by cash deposit into an investment bank
Money- market account. It may be verified by phone, fax VOD, email, and
online for an additional fee. This account is best used for those who need up
to 6 months of “seasoning” on the account subscription. Statements back six months from the time of service are available. 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. This service, as with
all domestic accounts, do not require passport ID to set up the account.
Tier 3
Euro Cash Collateral Account with SWIFT MT 760/799 Bank Guarantee:
Top Western and Private European bank cash collateral accounts set up with
SWIFT verification for 35 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.

Deutsche Bank, ING, ABN Amro, UBS, and Adler Private Bank

_ SWIFT MT 760/799 Bank Guarantee
_ Electronic Verification
_ Bank to Bank Verification
_ Phone/Fax Verification
_ Attestation Letter
_ History of funds
_ Bank Comfort Letter
_ Account Statement
_ Tear Sheet
Tier 4
Soft Escrow Deposit:
Our investor deposits cash into an escrow account with an escrow service of
their choice. Monies are held in escrow for 30 days at a time. The client may
not choose which escrow or trust account to use. 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. $100k to $50M+
Tier 5
Hard Escrow Deposit:
Our investor deposits cash into any major escrow or trust account or major
financial institution for 30 days at the direction of the borrower. 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 $1M to $50M
Tier 6
Stand-By Letters of Credit, Bank Guarantees, and Certificate of
SBLC, BG, and CD are issued on a leased 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 $10 M requirement.
Tier 7
Private Fund Loan Program: Financing for SBLC’s & BG’s
_ NO upfront cost: All loan fees are paid from loan proceeds at closing
_ Interest Rate: Adjustable at .5% over LIBOR, or Fixed at 1.5% over LIBOR
_ Simple Interest, not compound
_ NO prepayment penalty
_ $1 Million Minimum to $1 Billion
_ We can finance up to 95% Face Value of the instrument (95% LTV)

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