Ask individuals and businesses to prove that they have the required funds available in their bank account by proving that their bank balance is above a specified amount.
Ensuring that your customers have the required funds to hand will reduce the chances of default on payments. During these challenging times of COVID-19 the rate of payment defaults is higher than usual, and businesses must do everything to guard their cashflow and not expose themselves to undue risk.
Proof of funds
Minimum account balance of £2,500
10/05/21, 14:34:08 GMT
I want to check if my prospect client has sufficient funds to cover the entire cost of the work.
Ravi Saturnino, Chartered Accountant
I want to check if my prospective employee hasn't exagerated his current job's salary.
Ariah Odin, HR Manager