Third Party Fund Administration
Third Party Fund Administration offering is an electronic investment vehicle which allows third-party fund administrators such as attorneys, accountants, financial intermediaries, trust companies and or any other institution or business considered to be a Financially Accountable Institution (referred to as agents) to perform basic banking transactions on their clients’ accounts.
The TPFA system is a Windows-driven electronic delivery system that uses Internet technology to offer seamless and paperless processing of third party funds. .
Third Party Fund Administration provides a platform for you to perform the following activities on behalf of your customers:
- Opening and closing of accounts
- Invest your customer’s money at Wholesale rates
- Perform basic banking transactions
- Make term deposits on behalf or your customers to benefit from higher rates
- Perform Electronic payments
- Perform inter-account transfers
- automated collection of Admin fees
- Electronic access to statements
Other Features of the TPFA system:
- Increased security and fraud prevention through segregation of duties
- Improved administrative efficiencies by allowing the Agent to perform specific banking functions quickly and easily
- Streamlined administration of your clients’ accounts.
- You will have a list of account numbers assigned to you enabling you to open accounts without having to visit your branch.
- Competitive, wholesale interest rates determined by the balance of your investments. Receives a market related interest rate on the total funds held on all TPFA accounts;
- Reporting capability.
- Electronic transfer and receipt of funds to and from all South African registered banks.
- You are able to print VAT certificates directly from the system.
- Fixed deposits and Notice deposits are also catered for.
- Continuous tracking of access and activity is available on the system.
- If approved (through our Credit processes) have access to electronically issue cash backed (investments within TPFA) property guarantees from the office.
- If a TPFA Executor profile is required (Estates and Liquidations) a cheque book can be requested on the individual TPFA Accounts.
On-site training is provided for all new users, either on a one-on-one basis, or in small groups.
How to access Third Party Fund Administration
Contact us to help you determine the exact requirements for your business and create the necessary profiles.
011 631-2015
011 631-5393
011 636-6078
011 631-3290
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