This account is used to purchase allowable personal property items. Please enter the amount you would like to deposit. Deposits must be made in full dollar amounts. You may deposit a maximum of $100 to this account per transaction. This account is used to make phone calls. Deposits made to this. Deposit cash to any eligible prepaid or bank debit card. For a $5.95 flat fee you can deposit $20 - $500 in cash at 70,000+ retailers nationwide. MoneyPak is accepted by most Visa, Mastercard and Discover debit cards, plus 200+ prepaid debit card brands.
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Introduction
This topic contains information on the earnest money deposit, including:
Bank Rules On Cash Deposits
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.
Deposit Money For Inmate Online
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If it cannot be determined that these funds were withdrawn from the borrower’s account, additional verification of the source and evidence that the funds have actually changed hands from the borrower to the seller, the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.