Figuring out which Remote Online Notarization platforms to use can be a tough decision.
So many companies tack on a fee here and a fee there, it’s hard to keep track.
We think our calculator can help. If you can’t figure out which platform makes the most sense for an independent remote online notary, just enter the costs of each platform side-by-side and decide for yourself.
Of course, price isn’t the only factor in choosing a platform. But all things being equal, keeping costs down is a huge consideration for any remote online notary.
Additional Fee Considerations for a Remote Online Notary
A remote online notary (RON) is required to store the videos of their online notarizations. You need to determine if the RON platform keeps an original record of each online notarization. If so, do they charge the notary for the storage? This cost can be input in the additional fees field of the calculator.
Remote online notaries must also consider whether or not they will have access to their records for the full retention period. If the notary terminates their agreement with a company, additional video storage fees may be incurred. Further, the RON must also ascertain whether or not the company will transfer all notarial records to them.
There are two reasons RON’s don’t store their video sessions on their hard drive. First, they consist of large files that take up a lot of space. Second, the security of client’s information must always be safeguarded and kept private.
Cloud Storage and Portable Hard Drives Offer Solutions for a Remote Online Notary
Two storage solutions are available to remote online notaries: cloud storage and portable hard drives. Cloud storage services like Dropbox and Internxt charge a monthly or annual subscription fee. A portable, external hard drive can cost anywhere from $50 to $300 and above depending on their storage capability. At RONU, we teach notaries how to encrypt their portable hard drives so their client’s information is always protected.
Notaries are glad to serve their community, but in order to be commissioned as an electronic or remote online notary, all costs, overhead and expenses must be factored into the equation. When determining what is a fair and legal fee, follow your state’s laws and know your overhead.
Knowledge is power and that’s why we’re here!
RON University provides information for remote online notaries, mobile notaries and loan signing agents. This information does not consist of legal advice in any manner whatsoever and no attorney-client relationship is being formed. Nor is this material to be considered as state-mandated or state-approved training.
RONU is designed to educate you about the principles and frameworks of remote online notarization. States commission notaries to witness signatures in an effort to prevent fraud and promote free trade. Knowledge of your state’s laws and the notary industry’s best practices are highly recommended. If you have any questions about loan documents, always consult your hiring party, the title company and/or loan officer for clarification.