What is a Paymaster & what services do we give?

Banks and other financial institutions once managed these transactions but have withdrawn for various reasons, such as insufficient client history. As a result, specialized firms have stepped in to handle the management of commissions and fees between the involved parties.

The trusted Paymaster acts as a neutral third party, facilitating the transfer of large sums of money by holding funds in escrow during transactions between multiple parties. The Paymaster ensures that all funds are distributed according to the terms agreed upon, offering security to all parties involved. This service is particularly useful for agents, ensuring they securely and efficiently receive their agreed-upon fees, compensation, or commissions. The Paymaster creates a multi-party Escrow Agreement, manages the escrow account, and disburses funds based on the instructions laid out in the agreement. In exchange for their services, the Paymaster receives a commission.

Although the Paymaster is not a direct participant in the transaction, their role is essential to ensure that funds are securely held and disbursed according to the agreed terms. To engage Reliance Capital Finance Limited as your Paymaster or Escrow provider, the following information is required:

– A copy of a substantial driver’s permit and passport

– Copy of all transactional reports, including installment understanding

– Recorded report of pending exchanges in which The Reliance Capital Finance Limited is included

Note: Reliance Capital Finance Limited will process payments and distributions via Federal wire transactions or SWIFT transfers. We do not make payments through cash, money orders, or bank checks. Paymaster disbursements can be made to one or multiple accounts, both domestically and internationally..

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Withholding Taxes

The Paymaster does not withhold taxes. The individual or organization is exclusively in charge of paying any expenses due.

Escrow Services

Whether you’re a buyer or a seller, our professional escrow services make executing financial transactions straightforward and secure, providing you with peace of mind. Our escrow solutions are simple, reliable, and fully compliant with the latest laws and regulations.

Escrow services are one of the most trusted transaction methods, involving a neutral third party to hold funds and ensure both the buyer and seller meet their obligations. We offer a variety of payment options for both buyers to deposit and sellers to receive funds, including credit cards, bank transfers, and PayPal. You maintain complete control over the flow and structure of the funds, while minimizing transaction risks in your marketplace.

Commission Dispersal services

Our bonus disbursement services offer a secure platform for seamless transactions, providing you with peace of mind. Whether dealing with a straightforward transaction or one involving multiple parties, we ensure exceptional, high-quality service. We guarantee that customer commissions are paid in accordance with the Fee Agreement and are disbursed promptly. Additionally, we handle sensitive bank details and related payments with the utmost attention to detail.

The Paymaster can distribute a portion of a group’s bonus to multiple individuals, provided the payee details and account information are clearly outlined in the Fee Agreement. All transactions are subject to approval and verification by our banks, including confirmation of the source of funds. To ensure full compliance with our “Know Your Client” and “Know Your Transaction” policies, we require that all parties provide supporting documentation and identification in advance. Reliance Capital Finance Limited will request documentation from all parties seeking to use our Paymaster services, including copies of key transaction documents, such as the Fee Agreement.

Our Fee

As each service plan is tailored to meet the unique needs of our clients, the fees provided are general estimates. We specialize in delivering exceptional solutions for specific requirements and are happy to offer customized quotes. Clients also have the flexibility to update their bank information at any time.

Typical Paymaster Management Fees

Setup charge €500 – Non Refundable

Setup charge €500 – Non Refundable

Installments above €50 million: 1%.

Installments above €25 million to €50 million: 1.5%.

Installments up to €25 million: 2%.

Least charge: €500.