Bank Shot added five banks to its arsenal, meaning the mobile solution is available at 64 banks for title companies, closing attorneys and other real estate professionals who receive earnest money, commission, and other payments. The app gives users both ACH (automated clearing house) and non-ACH options.
“Bank Shot continues to change the game in real estate payment processing because we have true non-ACH options for our customers. Our goal is to get our customers real money, real fast, with the highest level of security that exists. Adding more banks to our platform allows more customers to take advantage of our incredible solution,” Bank Shot CEO Emily Traxler said in a release.
The Bank Shot mobile app, available for iPhone and Android users, lets users snap photos of checks and electronically submit them. The payments stop at a web-based portal prior to deposit, so the operator can confirm the payments and properties and choose which accounts to deposit the funds. Confirmations of the transactions take place immediately.
“Bank Shot makes sense for the title industry,” co-founder Bernadine Drake said. “We’re real estate veterans, and we developed this solution to address a problem in our industry. As brokers and owners, we understand operational expenses, so we set up Bank Shot to be delivered with no setup fees, monthly fees, or tech fees. You only pay when a successful deposit is sent, and we’ve even kept that cost very low. This gives our clients the convenience and peace of mind, knowing their checks will be delivered quickly and securely.”