Our Funding Commitments

Consistent with banking, finance, and insurance, our Funding commitments are issued for 30 days, with a 28-day service period.

Applicants have up to 30 days to meet all conditions in the term sheet.

Paymasters Group payouts are made from escrow, in accordance with binding transaction agreements. Allow 24 hours for processing of approved payments and guarantees.

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  • Any approved payout, under commitment, with an irrevocable escrow agreement
  • Commissions and fees, in accordance with settle my statement worksheet
  • Project expenses based on approved budget
  • Profit sharing

A reserve requirement (or liquidity ratio) is a minimum value, set by the Funding Committee, of the ratio of required reserves to some category of deposits held in escrow with eCheck depository institutions.

The only deposit categories currently subject to reserve requirements are transactions accounts, mainly trading accounts. The total amount of all net transaction accounts (total transaction accounts less amounts due from other banks and less cash items in the process of collection) held in US depository institutions, plus US currency held by the nonbank public, is called M1.

An applicant depositor can satisfy its reserve requirements by holding either escrow cash or reserve deposits must hold its reserve deposit at an approved escrow attorney.

A depository institution’s reserve requirements vary by the dollar amount of net transaction accounts held at that institution.

Effective January 23, 2014, institutions with net transactions accounts:

  • Of less than $13.3 million have no minimum reserve requirement
  • Between $13.3 million and $103.6 million must have a liquidity ratio of 3% of liabilities
  • Exceeding $103.6 million must have a liquidity ratio of 10% of liabilities

The threshold monetary amounts are recalculated annually according to a statutory formula.