Payment and transaction
We email to each producer group a report showing the details of
the payment being requested by the buyer. Once the payment is made
we send confirmation to the producer group that the funds have gone
with several reference numbers provided by our bank.
Occasionally the funds do not reach the intended
beneficiary. If this happens our Lending Team works swiftly
to recover the missing funds and resolve the issue, keeping the
producer and buyer fully informed.
We are often contacted by producer groups who are required to
pay membership fees (eg, to WFTO or FLO) but experience trouble and
huge expense in sending the funds. They therefore contact us
requesting to split a payment due to them and have Shared Interest
make the payment on their behalf.
Some producer groups with a high volume of transactions can
occasionally have difficulty maintaining records of all of their
accounts. If required we will send them details of all of the
payments that have been made to them in a given period of time.