Earnnest offers several beneficial features that wires can't offer:
- Through the Earnnest app, agent requests and buyer payments can be completed from the convenience of home, removing the need for bank visits to initiate wire payments.
- Earnnest ensures security on both sides of the payment process, first by verifying homebuyer identity and bank account information, and second by only working with already verified, enrolled, and designated escrow holder accounts. By comparison, wires require the homebuyer to accurately transcribe and submit the exact account number where the payment should be sent. You can learn more about Earnnest's payment process here.
- Finally, Earnnest is a cost-effective option, charging a flat $15 processing fee to the homebuyer. By contrast, a single wire can require a fee ranging from $25-45.
For a full comparison, please see the chart below: