1. Can I use the Courtesy Deposit you make to guarantee my loan?
NO. We try to make this point as clear as possible but we find it often takes about 7-10 readings of our frequently used phrase to get this message across:
“The Courtesy Deposits we make cannot be encumbered, pledged, put in jeopardy, used to collateralize your loan, or used to guarantee your loan, and your lender does not have the right of offset against our deposits. No funds can or will be deposited into your bank account. Only your Banker will have access to the Courtesy Deposit funds at the bank.”
2. Can I have access to the deposits you make?
NO. See #1 above.
3. What are your qualifications for applicants to use/buy your product?
Applicants must agree to our three conditions. They are:
1. The deposits we arrange on your behalf must never be at risk. Acceptable institutions will carry appropriate insurance to cover our deposits. FDIC insurance in the USA guarantees each $250,000 USD deposit that we make is guaranteed to be repaid. Other such insurance programs are in place in other countries. The deposits themselves may be insured by such insurance companies as Lloyds of London and other insurers. We will verify this issue at length with the financial institution you request.
2. The deposits we arrange cannot be encumbered, pledged, put in jeopardy, used to collateralize your loan, or used to guarantee your loan. Your lender does not have the right of offset against our deposits. No funds can or will be deposited into your bank account. Only your Banker will have access to the funds used to purchase Jumbo CD’s at the bank. Any misrepresentation of these terms to any involved party could increase your transfer expenses or make the transaction not viable and most likely will result in a 2% penalty fee on the requested amount. We will verify this issue at length with the financial institution you request.
3. All required fees are paid into a Deposit Capital trust account prior to any movement of deposits into your requested bank. Once you complete our application document and we receive your funds in our trust account we will process the transaction and arrange for the Courtesy Deposit within 10 business days. Once the Courtesy Deposit has been ordered you cannot cancel the transaction. Provided our terms have been adhered to, your fee is fully refundable in the event we cannot confirm the Courtesy Deposit in your bank within 10 business days of your fee arriving in our trust account.
4. How much does your product cost? What is my total cost?
Deposit Capital fees are very simple.
If you request a Courtesy Deposit transfer less than one million dollars our fee is 5% (five percent) and if you request a Courtesy Deposit transfer of one million dollars or more our fee is 4% (four percent).
This is the only fee you will be charged for this service. Your fee must be paid into Deposit Capital’s trust account before any deposits are moved. Not until the CD deposits are confirmed received at the financial institution you requested will Deposit Capital be paid from the trust account.
5. Is there a minimum deposit I can request. And a maximum?
The minimum Courtesy Deposit amount we will arrange is $100,000 USD. There is no maximum amount.