Our firm offers international Paymaster – Services to our clients worldwide. Most individual or groups, when receiving large amounts of funds, want to place their funds with a neutral third party for disbursement. This protects the funds and provides for the professional distribution of the funds according to the written instructions of the client(s). In return for this service, the Paymaster charges a fee, that is negotiated in advance of the funds arrival into the Paymaster Account. This fee is deducted from the incoming funds and the remaining funds are professionally and quickly wired to the recipients according to instructions.
- FUND TRANSFERS
- ESCROW SERVICES
- TRUSTS – FOUNDATIONS
- INTERNATIONAL CONSULTATION SERVICES
In working with you on your financial transactions, we follow certain immutable principles:
- Our advice is appropriate to your situation.
- We recommend custom solutions tailored to your needs.
- And we guard your privacy zealously, ensuring that the information regarding your funds and plans stay private.
Frequently Asked Paymaster Questions
What is a Paymaster?
A paymaster is a neutral third party that is appointed by an individual, group of individuals or company in order to receive and distribute funds on their behalf. The Paymaster acts upon the written instructions of the beneficiaries of the funds. The Paymaster service simplifies the process of receiving funds in specific Countries or locations and simplifies making multiple disbursements to recipients in different Countries and/or different Currencies with their unique requirements.
What is the process of disbursing funds upon receipt by the Paymaster?
Typically, the process begins when all parties within a transaction agree to use the services of a professional Paymaster Service. Our Firm will distribute a “Fee Payment Agreement (FPA)” to all of the parties receiving the funds. The “FPA” document outlines the exact amount of money each party will receive and how the funds will be disbursed to each person. Upon completion of the “FPA” and after the Funds are received, they will be distributed in a prompt manner, according to the written instructions of the “FPA”. The funds will be distributed to the receivers or Banks as specified within the document, or held in our Secure Holding Account for later disbursement if requested by the Beneficiary.
Are the clients information kept confidential?
The details of the “FPA” as well as the client – beneficiary personal information is held in strict confidence after it has been received. This includes the names of the various Individuals, contact information, companies, bank information, agencies within the “FPA”, “Payout Amounts” and where they are to be distributed. We do not disclose any details of the (FPA) Agreements and/or the information contained therein. Depending upon the circumstances, we might confirm that we are the “Paymaster” on record for a particular transaction, if we are asked. However, we will not disclose the details of any transaction or anyone involved in it.
What are the Paymaster Service Fees?
We offer various locations worldwide for our Paymaster receiving Bank Accounts. Therefore, we charge varying amounts depending upon our receiving bank location and the amount of the entire transaction. The charges vary because some of our receiving bank accounts are more difficult to maintain or might require more legal assistance in order to accept larger funds however we are always very competitive and offer a valuable service for the fees being charged. Please contact us for specific details on fees.
When should I retain the services of a Paymaster?
As soon as you are involved in a financial transaction that requires the service, you should contact us to begin the process of contracting for the Paymaster Service. When you register for our Paymaster Services and complete the agreement, you may select the banking institution – location that you prefer and you will receive the co-ordinates for that Paymaster Account.
How quickly will the funds be disbursed after the funds are received by the Paymaster?
Providing that all your documentation is completed, typically we will wire transfer your funds within 48 – 72 hours after they are received by our bank unless the funds are received on a banking holiday or a weekend. We will always endeavor to minimize or avoid any delays on your behalf.
Will the Paymaster Account accept various currencies?
Our Paymaster Bank Accounts are able to accept most of the worlds recognized currencies as we have Multi Currency Accounts available that are able to accept Private Cash Conversion Transactions.
May I call the Paymaster’s Bank to verify the Funds arrival or details?
No. As all details of the transactions are private and strictly confidential, this includes contacting the receiving Bank. Also, not all of the details of the transaction are required to be shared with the Bank. Therefore, none of the bank employees are permitted to discuss any details of the transaction with you. We will contact you by email, telephone, text message, or Skype (whichever contact method you prefer) to inform you when your Funds have been wired into our account and will contact you again after initiating your wire transfer.
Can the Paymaster disburse Funds to multiple Parties?
The Paymaster Service is designed to disburse the funds to a specific individual or multiple individuals or multiple companies. You can be assured that our total focus is on providing a smooth transaction procedure.
Is the Paymaster able to disburse funds by cash, check, or money order?
No. We are authorized to receive and/or disburse the Funds from our receiving Bank Account via MT103 wire transfers (Swift) with no maximum limit to be received. Using our (Swift) wire transfer for outgoing funds dramatically reduces your risk of fraud or theft and ensures the fastest turnaround time possible.
Can the Paymaster help me set up a Bank Account?
We provide the service to form a Company and Bank Account in various locations throughout the world. The Bank Account in most cases includes online access, debit cards and credit cards. This will allow you to access your Funds from anywhere in the world.
If I do not want my funds distributed, is the Paymaster able to hold my funds?
Our Paymaster Service is able to securely hold your funds for as long as you require upon receipt of your instructions. We realize that not everyone is prepared for a sudden influx of funds or are not sure where they want their funds transferred to.
In some circumstances, clients wish to form a new business entity (Corporation – Trust – Foundation) with a new bank account but have not had the time to set it up. Therefore, our Paymaster Service is able to hold your funds in any of our Multi Currency Accounts until we receive instructions from you that you wish to transfer your funds.