Third Party Fund Administration
Third Party Fund Administration offering is an electronic investment and transactional solution which allows third-party fund administrators such as Attorneys, Asset Managers, Estate Administrators, Liquidators, Property Managers, Fund Administrators, Chartered Accountants, Estate Agents, Auditors or any other institution or business considered to be a Financially Accountable Institution (referred to as agents) to manage funds on behalf of their clients.
Third Party Fund Administration provides a platform for you to perform the following activities on behalf of your customers:
- Quick, efficient opening and closing of accounts electronically – conveniently in your office.
- Electronic access to balances and statements.
- Electronic payment facilities directly from the individual accounts.
- Interest rate is calculated on the full balances on all TPFA accounts.
- TPFA allows the automatic recovery of monthly admin fees.
- Various reports can be drawn off the TPFA system, for example, closing reports and admin fee reports.
- VAT invoices are available on the system.
- Electronic Property Guarantee facility is available to Attorneys.
Other Features of the TPFA system:
- Secure internet-based system.
- TPFA styled accounts are blocked from debit orders and cheque withdrawals.
- Third party clients are unable to access their accounts.
- Separate operator IDs and password control.
- Each operator uses a separate security token.
- 128-bit encryption ensures safe transmission of data.
- Data logs are available to clients on all activity on the system.
- Segregation of duties enabling administrators to set various levels of authority for individual users.
- Account numbers assigned to you enabling you to open accounts without having to visit your branch.
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.