The 6 Most Common Mistakes People Make When Choosing A Proof Of Funds Company…And How To Avoid Them!

Washington D.C- After doing our own extensive research we were drawn to a Proof of funds company we felt was the most knowledgeable and experienced.

In this interview, Tracy Ellis, founder of DPAfunds.com will reveal the six most common mistakes people make when choosing a proof of funds provider and how to avoid them.

Avoid The Middle Man

This is probably the costliest mistake people can make. We use our own money to fund about 90% of our POF transactions. This means when someone calls us directly, they get the lowest price. They get the same rate as brokers. Our clients get “wholesale” rates.  Many of the “providers” on the internet actually call us to use our money for their clients. After a broker adds their commission to the fee it is much higher than what our direct clients pay.

Providers With No Experience

Unfortunately many brokers in this business have little or no experience. Many have fancy websites and talk a great game but have never opened a POF account for a real client. Often, they call us, give the client application to us and are hands off.  Always work with a company who actually creates accounts.

High Fees

Many providers have excessive fees. The reason is simple. They are acting as a middle man, not using their own funds and have to add their commission on top of that.

Can’t Answer Questions

A red flag should go up when the provider can’t answer simple questions. If you find yourself talking to a broker and they say “I will get the answer and call you back” regarding nearly every question, they lack experience and I would politely hang up the phone. No one can answer every question but I would be worried if they seem unsure on the phone regarding every question you ask.

Long Delays To Return A Call Or Email

If a provider takes an unusually long time to return a call or email, this usually means they either do this part time or are lazy and unorganized.  We all get busy and sometimes delayed but this is our business and how we make our living. We take it very seriously. We make it a point to return every call and email within the same business day.

Claim To Provide Every Service

Many POF providers claim they can deliver any service.  Lending, bank instruments, POF, DPA, currency, the list goes on and on. We focus on two services and do them well, proof of funds accounts and down payment assistance.  My advice is work with a company that specializes in proof of  funds accounts or down payment assistance.

For more information about DPA Funds, visit their website www.dpafunds.com or call directly               1-405-217-3199.

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