Does Hopdox have draw-down options?

A drawdown account refers to a pre-funded customer account that is used to automatically pay recording fees and/or Hopdox service fees as transactions occur.

Here's how it works:

1. Hopdox will create the draw-down account and provide instructions on how to fund the account.
2. Customer deposits funds
   • A title company, attorney, or contractor deposits, for example, $5,000 into their Hopdox drawdown account.
3. Before submitting a package, the submitter will choose the draw-down account as the payment method, when appropriate. 
   1. If this is the only account, it will be set up as the default. 
4. Hopdox processes recordings
   • Every time they submit a recording:
     • County recording fees are deducted.
     • Hopdox's service fee (if applicable) is deducted.
     • Any taxes or convenience fees can also be deducted.
5. Balance decreases
   • The available balance "draws down" with each transaction.
   • The customer can view their current balance and transaction history.
6. Replenishment
   • When the balance reaches a threshold (say $500), the customer:
     • Receives a notification to replenish, or
     • Has funds automatically added (ACH or credit card), if you support auto-reload.