Paymaster Exchange offers peace of mind during large commercial transactions and projects.
Buyers are protected. Sellers are protected. Brokers and intermediaries are protected.
We offer double-blind transactions and ensure risk-free trade.
Homeowners and investors release funds after performance benchmarks are reached and work is completed. Contractors work with the peace of mind they will be paid. Customers stay protected.
Investors and business owners benefit from deferring payment of capital gains taxes with the aid of qualified intermediaries. Paymaster Exchange has the know-how to help you safely navigate 1031 exchanges and defer paying capital gains taxes.
Paymaster Exchange will provide you the necessary information to secure funds.
Using a qualified master escrow account and remote banking authorization, Paymaster Exchange remotely opens individual sub-accounts.
Buyers, homeowners, and investors securely fund individual sub-accounts by bank wire or ACH transfer.
Buyers receive their purchases.
Contractors finish the project.
Funds are electronically transferred to sellers upon delivery of goods; service providers are paid when the job is complete.
Paymaster Exchange debits the depositor's bank account by ACH transfer. In some instances, funds are wired to the Paymaster Exchange master escrow account.
1. All transfers of funds are done electronically, bank-to-bank, to ensure adequate documentation of payments. Cash, checks, money orders, and credit cards are not accepted or issued by Paymaster Exchange.
2. Paymaster Exchange keeps all funds in a qualified master escrow account with an FDIC insured institution. Once funds are transferred, a sub-account is created with the bank. Only the depositor's funds are placed in the segregated sub-account.
3. All parties to a transaction are able to log into the bank’s website and view the activity and balances of the sub-account.
The purpose of placing funds in escrow is to protect all parties to a transaction. Paymaster Exchange will obtain the permission of all parties prior to transferring money back to the depositor.
Paymaster Exchange will secure the funds in escrow until the parties reach an agreement or a court issues an order to release money to a party.
Set-up fees and monthly maintenance fees are deducted from the depositor's funds on account. Transfer fees for ACH transfers and wires are deducted from the amount being transferred to the recipient.
Most accounts exist for a short span of time and are not charged a maintenance fee. A modest monthly fee of $19 is applied to accounts open longer than 30 days.
One-time charge per deposit
Deposits $249,999.99 or less
*Fee is $499 or 0.5% of the amount deposited, whichever is greater.
Deposits ranging from $250,000.00 to $1,000,000.00
*Fee is $1,249 or 0.25% of amount deposited, whichever is greater.
Deposits over $1,000,000.01 or greater
*Fee is $2,499 or 0.1% of the amount deposited, whichever is greater.
Per transaction fee for each transfer of funds
ACH transfer for amounts up to $24,999.99
Transfers of $25,000 or greater
*International wires not included
Monthly fee applied to accounts after 30 days
No maintenance fee applied
340 Main Street, Suite 910, Worcester, MA 01608
Jim Walckner, President/CEO: 508-361-5090
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