Deposits to an inmate's trust account, as well as probation, community corrections, and background check payments are provided by TouchPay Holdings, LLC d/b/a GTL Financial Services, which is also the owner and manager of this website. TouchPay Holdings, LLC d/b/a GTL Financial Services is wholly owned by Global Tel.Link Corporation. You can make unlimited deposits into your Money Market, Online Savings and Interest Checking accounts. If you are using Ally eCheck Deposit℠, you’re only allowed to deposit checks totaling $50,000 in a single day and up to $250,000 every 30 calendar days.

Introduction

This topic contains information on the earnest money deposit, including:

Sales Contract Deposit

The deposit on the sales contract (earnest money) for the purchase of the security property is an acceptable source of funds for both the down payment and the closing costs.

Verification of Source of Funds

If the deposit is being used as part of the borrower’s minimum contribution requirement, the lender must verify that the funds are from an acceptable source. See B3-4.2-01, Verification of Deposits and Assets.

Money Deposit Safe

A Request for Verification of Deposit (Form 1006 or Form 1006(S)) must indicate that the average balance for the past two months was large enough to support the amount of the deposit.

Bank statements must evidence that the average balance for the past two months was large enough to support the amount of the deposit. If a copy of the canceled deposit check is used to document the source of funds, the bank statements must cover the period up to (and including) the date the check cleared the bank account.

If it cannot be determined that these funds were withdrawn from the borrower’s account, additional verification of the source and evidence that the funds have actually changed hands from the borrower to the seller, the realtor, the escrow agent, or the settlement attorney should be provided. Large earnest money deposits and deposits that exceed the amount customary for the area should be closely evaluated.

Documentation for Receipt of the Deposit

Receipt of the deposit must be verified by either a copy of the borrower’s canceled check or a written statement from the holder of the deposit.

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Money Deposit Box

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Deposit Money For Inmate Online

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