What is the Money Protection Plan?

JJ Franco
JJ Franco
  • Updated

This plan would protect your client if they were to fall victim to wire fraud after not following the wiring instructions sent through CertifID.

 

Overview

When you receive wiring instructions from your closing agency, you will be asked if they would like to purchase additional coverage for fund recovery in the event you DO NOT follow the wiring instructions you received through CertifID.

  • This is an OPTIONAL Coverage. You have the option to decline this additional coverage.
  • This is ADDITIONAL coverage. Meaning, that as long as you use the instructions that you received through CertifID, the transaction will be insured under the normal insurance coverage.
  • Using instructions that you received outside of CertifID is NOT covered under our typical insurance coverage - thus, the Money Protection Plan is an additional layer of protection.

     

Screenshot 2023-08-21 at 1.55.33 PM.png

How Does It Work?

  1. When completing the request, you will be asked to select from a dropdown menu the anticipated amount of the wire transfer.
  2. Once selected, you will be provided details of the Money Protection Plan
    • NOTE: The cost of this additional coverage is determined by the selection that is made from the dropdown menu.
  3. Make selection for the Money Protection Plan

Screenshot 2023-08-21 at 1.56.12 PM.png

Plan Benefits

Fund Recovery Assistance - If you're is tricked into sending funds to a fraudulent account, our team of experts will help get your money back by:

  • Working with their bank to initiate funds recovery
  • Engaging law enforcement
  • Providing updates on recovery status
  • Answering any questions along the way

Dedicated Support - Sending wire transfers can be complicated. If you have questions, our team of fund transfer experts are just an email or chat away.

 

Important Reminder: Make sure to only follow the wiring instructions sent through CertifID. If you receive other wiring instructions, reach out to your closing company immediately.

Was this article helpful?

/

Comments

0 comments

Article is closed for comments.