Proof of Funds
POF is a bank document or bank statement that demonstrates that a person/company has the ability and the money to finalize a transaction. It ensures that the financial ability required for the transaction is procurable and legitimate. POF is often used for funding projects that require large amounts of money to invest in.
Notably, POF are sometimes being used by con artists to carry out financial scams. Thus, as a precaution, before agreeing to be presented with POF, it is more than necessary to thoroughly investigate the opposite party of the transaction and run sufficient due diligence.
Ready, willing and able messages
An RWA Message is a document issued by banks or financial institutions on behalf of the applicant, demonstrating the intent and financial and legal capability to enter a financial transaction. RWA Messages are often referred to as bank comfort letters.