What is a Verification of Deposit (VOD)?
It is a document signed by a company’s or individual’s financial institution that provides verification of the balances in their financial accounts. A written Verification of Deposit will adequately serve the majority of Proof of Funds requirements. Other types of confirmations done with bank-to-bank SWIFT messages are most commonly used for verifications tied to transaction settlements or securities transfers, and have special account set-up procedures that are available at additional cost.
