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PAYMASTER
ESCROW

Secure Transactions


Service Contracts   Construction Projects   Purchases

Eliminate collections

Avoid risk of non-performance

About Us

Secure Transactions

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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.

Construction & Home Improvement

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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.

COMING SOON: 1031 Tax Deferred Exchanges

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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.

How it works

#1 - Contact Paymaster Exchange

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Paymaster Exchange will provide you the necessary information to secure funds.

#2 - Open special sub-account

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Using a qualified master escrow account and remote banking authorization,  Paymaster Exchange remotely opens individual sub-accounts.

#3 - Deposit funds

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Buyers, homeowners, and investors securely fund individual sub-accounts by bank wire or ACH transfer.

#4 - Goods are delivered / services are completed

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Buyers receive their purchases.

Contractors finish the project.

#5 - Payment is made to seller/service provider

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Funds are electronically transferred to sellers upon delivery of goods; service providers are paid when the job is complete. 

FAQs

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How is an account with Paymaster Exchange funded?

  

Paymaster Exchange debits the depositor's bank account by ACH transfer. In some instances, funds are wired to the Paymaster Exchange master escrow account.

How do I know my funds are safe?

  

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.

What happens if I fund an account and decide to have money returned?

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. 

What happens if a depositor and recipient disagree over a disbursement or return of funds ?

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. 

Who pays the Paymaster Exchange fees, the depositor or the recipient?

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.

What is the monthly maintenance fee?

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.

Fees



Fees subject to change

Contact Us

Contact Online

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Paymaster Exchange, Inc.

340 Main Street, Suite 910, Worcester, MA 01608

Jim Walckner, President/CEO: 508-361-5090