General
Insurance Claim Appraisal and Appraisal Award
When is Insurance Appraisal needed/recommended? If the Insured (PO) disagrees on the Insurer’s estimated amount of the loss, they can make a written demand for an appraisal of the covered loss. An "Appraisal" is an alternative dispute resolution ...
Steps On How To Update/Edit iink Account Info
Below are the steps on how to update your account info with visual aid: Let's Start by going to app.iinktech.com then log in with your username (your email address) and the password you created: 1. Click on the three bar line on the upper-left hand ...
Why is My Mortgage Company Withholding Funds for Repairs?
The mortgage company retains a financial interest in the property until the loan is fully paid off. Therefore, the release of insurance funds is subject to their rules and procedures. Every bank or mortgage company has its unique process. They may ...
What Is a W-9 Form?
A W-9 form is an Internal Revenue Service (IRS) tax form that is used to confirm a person's name, address, and taxpayer identification number (TIN) for employment or other income-generating purposes. The confirmation can be requested for either an ...
What is Plaid?
Plaid lets users connect their financial accounts to apps and services; the connection it provides to users' financial account(s) does not imply affiliation with any financial institution. It's a software that authenticates your financial ...
How do I create an iink account?
If you are a stakeholder receiving funds from a check processed by iink, you should receive an email invitation to join iink and setup an account, and to add your bank information securely using Plaid. If your link has expired, or you simply wish to ...
What is an Escrow Account?
Escrow is a legal concept describing a financial agreement whereby a third party holds an asset or money on behalf of two other parties that are in the process of completing a transaction. Escrow accounts are managed by the escrow agent. The agent ...
What is a payment verification request?
The Payment Verification (PV) requests are the forms we send via email to the Property Owners (PO) to review and sign when any new iink Pro claim is uploaded. (*Except reissues and additional checks; for these we would only send a signature request.) ...
Can I save my signature for reuse on future payments?
You will automatically be given the option to reuse your last accepted signature, provided the following conditions are met: You must be logged in as the stakeholder being asked to sign. The name of the stakeholder being asked to sign must closely ...
Where do I add the reissued or disbursement (draw) check?
Please start a new process creating a new file for the new check, by selecting the claim on your iink account Dashboard, and then clicking +Add Check in the app. Next, you can upload an image of the front and back of the check, and save the draft or ...
Why do you need my loan number?
Since your mortgage company is listed as a payee on the check, we will be contacting them on your behalf. We will need to provide your full loan number for them to locate your file and assist in the processing and verification of any requirements to ...
How can I add a new bank account to my iink account?
You can log into your account by clicking here. Type in your username (email address) and the password you created. (1) You will click on the Payments Methods tab on the left-hand side and then you will see a big blue button that says Add Bank ...
What’s a Contractor’s Bid/Proposal?
It is a document containing a detailed proposal from a contractor, stating the scope of work and corresponding costs a customer would need to pay for their services, should they choose them for the reparations. It also is considered the contractor's ...
If they are sending me the (draw) check, why can’t I distribute the funds? Why do you need to get the check?
You can deposit the draw check outside of iink, or use our online payment service by sharing the images. However, we do need confirmation once the check is received so we can update our files and let the File Creator know as well, since once the ...
Can you provide the USPS tracking number?
USPS regular mailing does not provide a tracking number; the expected delivery is within 8-10 business days. If check has not been received in over 30 days after MC mailed it, it is deemed lost in mail. The next step would be to contact their ...
What is iink Pay?
iink Pay is our service that allows to remotely endorse, disburse, and deposit insurance claim checks when a mortgage company is not a payee on the check or has already endorsed your check.
How do I delete financial accounts from the Plaid Portal?
You can delete financial accounts you’ve connected using Plaid through Plaid Portal at any time. This will delete this data from Plaid’s systems and prevent any connected apps from accessing any additional data via Plaid for these accounts going ...
I still haven't received the mortgage endorsed check?
If we notified you that the check has been endorsed and confirmed the shipping details, but it has been over 30 days since the check was sent and is yet to be delivered, unfortunately, it is deemed lost in the mail. The next step would be to contact ...
How do I confirm the micro-deposit to verify my bank account and complete my iink account setup?
To receive your funds, you have to confirm the micro-deposit by following these steps: 1. Accesses your online banking and go your personal bank account, check the micro-deposit for $0.01 that iink sent to you (the transaction should appear 24-48 hrs ...
I am a Property Owner and just received a disbursement check for my insurance claim check. What should I do next?
Kindly let us and the File Creator (FC) or Public Adjuster (PA) know once you have received the check, so we can assist and have it uploaded as a new file in the app, and we will disburse funds to all stakeholders receiving them accordingly. If you ...
Does every stakeholder on the check need to electronically endorse the check for iink to process it?
All stakeholders listed on the insurance claim check or receiving funds will need to review and sign our payment verification request, since it includes the fund distribution agreement and authorization for iink to speak with the mortgage companies ...
How can I reset my iink password?
From the login screen, you will see a "Reset Password" link near the bottom of the form. Click the link and you will be prompted to enter the email address associated with your iink account. Check your email for a link to reset your password. If you ...
Guide to Adding and Removing Team Members
Overview This guide outlines the steps to add and remove team members in the iink App. Understanding these processes is crucial for maintaining secure and efficient operations within your organization. Adding Active Team Members Log in to the iink ...
Can I delete my data?
Because iink processes financial transactions involving multiple parties, we typically have to retain records in case of any future inquiry or dispute. Rest assured, we take precautions to safeguard your data and privacy. If you signed up for an ...
What happens if I receive Advance Funds and the check takes longer than expected, gets lost, or is being held up due to mortgage company procedures?
As funds are still in limbo and unable to be paid back to iink interest of 1.95% per month will accrue until the check is received or repayment is authorized otherwise.
What happens if the check gets lost in the mail after the mortgage company returns it endorsed?
Unfortunately, the check will need to be reissued by the insurance carrier. However, depending on the circumstances, the insurance carrier may be able to reprint the check to exclude the mortgage company if repairs are completed.
What happens if the wrong mortgage company is on the insurance check?
The check will need to be reissued by the insurance carrier with the insured’s current mortgage company listed as the payee. The insured will need to update their policy’s mortgage clause with their agent (not adjuster) before the request for a ...
What happens if a check is deposited outside of iink?
For Standard Processing customers, iink will invoice the funds recipients for the applicable service fee. For Advance Funding customers, iink will initiate an ACH pull from the primary stakeholder’s bank account unless otherwise instructed to pull ...
How much does iink cost per check with a mortgage company?
Standard Processing - 1% with $299 cap per check Advance Funding - 1.95% per month with no cap
How much does it cost to get iink Verified?
$299 one-time fee
How does iink bill their service fees?
Fees are automatically deducted from the check funds when they are deposited in your bank account.
How long should I keep the check before I destroy it?
3-4 weeks is sufficient.
What should I do with the check after the mortgage company has sent it back with their endorsement?
To complete the transaction, a picture of the back of the check with the mortgage company’s endorsement must be uploaded to the payment in the iink web app. You must also write or stamp the following restrictive endorsement on the back of the check: ...
When will I receive funds if I have selected Advance Funding for checks with a mortgage company?
1-2 business days after the check is mailed to the mortgage company using the FedEx label provided by iink.
When will I receive funds once all stakeholders (including the mortgage company) have endorsed the check?
Funds are sent to your bank account via ACH when the check clears (typically 2-3 business days).
Does iink require signature guarantees for their check endorsements?
No. Every professional stakeholder receiving funds is verified prior to being able to originate payment requests or receive funds via iink ACH.
What if a stakeholder does not approve the payment request sent by iink?
For security reasons, iink will not be able to complete any transaction without every stakeholder’s approval. Each payment request must minimally include every payee as a signing stakeholder to approve the transaction.
What if the person or company I want to send funds to is not a payee on the check?
Any funds recipient can be added to the transaction for payment provided every other stakeholder approves the disbursement.
Do all mortgage companies on iink’s platform electronically endorse the checks?
No. Some mortgage companies digitally endorse checks on the iink platform, but not all. For those that don’t, iink provides a 2-day FedEx shipping label for the check to be mailed to the mortgage company for endorsement.
How can someone electronically endorse a check using iink?
iink’s bank-integrated web app sends every payee a secure request via text and email to digitally endorse the check with their finger on a mobile device
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