MEGA 1031 Exchange Services Adds Direct-to-Bank Internet Viewing of Individual Escrow Accounts for Total Customer Security |
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By: MEGA 1031 Posted: 2007-05-31 07:30:58 |
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MEGA 1031, a leading 1031 property exchange company specializing in secure, segregated escrow accounts with full return of earned interest is once again upping industry standards with the addition of a unique banking Internet service guaranteeing clients 24/7 total peace of mind.
MEGA 1031 is using a Colorado bank to provide clients nationwide direct- to-the-bank, 24-hour Internet viewing of their individual escrow accounts, a unique service rarely offered by independent 1031 companies. "By working with Community Banks of Colorado, we have a system in which our customers can access their accounts straight from the bank's website," said Steve Chacon, MEGA 1031's chief operating officer. "This is an enormous security improvement over what's being now offered by many other 1031 companies." An estimated 95 percent of Qualified Intermediaries currently co-mingle client funds in large company bank accounts in order to earn higher interest rates. This makes bank tracking of each individual's funds virtually impossible. Investors are thus limited to only the accounting of their monies provided by the 1031 company itself. "We feel the addition of direct bank viewing of each escrow account raises MEGA 1031 to a level of professional security well beyond many other independent 1031 exchange companies," said Chacon. "While other companies struggle with security and risk concerns related to co-mingled accounts, MEGA 1031's total package of 24/7 direct bank account viewing, high interest rates, segregated accounts and exceptional customer service provides our clients with the highest level of care and security. In addition, MEGA 1031 is fully bonded and insured, guaranteeing complete customer peace of mind." MEGA 1031 also pays a significantly higher interest rate on escrow accounts than many other Qualified Intermediaries, which often give their clients less than one per cent in interest. "We pass onto our clients the full earned interest *paid on their account," said M. Burke McHugh, MEGA 1031's president. "That's more than 4 times the amount of interest paid by many other 1031 companies to their clients." About Community Banks of Colorado Community Banks of Colorado began in 1989 and has more than $1,350,000,000 in assets as of year end 2006. The holding company, Community Bankshares, Inc., owns Community Banks of Colorado and Community Banks of Northern California with over 40 full service branch offices. For more information visit the company's website at http://www.cobnks.com About MEGA 1031 MEGA 1031 is a Qualified Intermediary providing 1031 exchange and escrow services through out the nation. Our main office is based in Denver, Colorado however our knowledgeable associates are located across the country. More information is available at our website http://www.mega1031.com *MEGA 1031 pays interest rates on client escrow accounts according to the Annual Percentage Rate. The Annual Percentage Rate is based on the 13 week U.S. Treasury Bill rate minus .75 percent. |
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