This article outlines the most recent payment structure for notaries using Notarize to provide notarial services as independent contractors.
The information below is effective October 26, 2020.
🎯Primary Audience: Notaries
How Much Does it Cost to Join?
Independent contractor notaries on the Notarize platform pay $0 in sign-up fees. You will have free access to our notary onboarding training, our transaction simulator, and your electronic stamp or seal.
How Much Will I Get Paid?
Payment for completed transactions is as follows:
Retail and Business Transactions
Notaries will receive $5 for their initial stamp or seal, and then $1 for each additional stamp or seal as required by the customer in a given transaction. These transactions are specifically transactions created by an individual user or business customer.
Real Estate Signing Transactions
Notaries that are permitted to handle real estate transactions may receive both full real estate signing transactions and “Other” or ”Trailing Document” transactions, which are sent by real estate users which may still require one (1) or more notarizations but do not amount to a full real estate signing. At this time, the Platform does not let a notary know prior to joining a meeting whether the transaction is a full real estate closing or an “Other” or ”Trailing Document” signing session. Such designations are set by the business user prior to submitting the transaction. Notaries will receive payment based on how the transaction was sent by the business user.
- Full Real Estate Signing Transactions: Notaries will receive $25 for each completed full real estate signing transaction. These transactions are initiated by or on behalf of a lender or title agent for a real estate signing session where all documents are eSigned and eNotarized.
- “Other” or “Trailing Document” Transactions: Notaries will receive $5 for their initial stamp or seal, and then $1 for each additional stamp or seal on completed transactions that come through the real estate queue as an “Other” or “Trailing Document.” These transactions are substantially shorter in duration and have fewer documents than a full real estate signing transaction.
Please note: Real estate signing transactions are not broadly available to independent contractor notaries due to the legal complexities of these transactions and additional lender, title company, or title agent requirements. Notarize is in the process of piloting real estate signing transactions with a limited group of independent contractor notaries. Notarize will reach out to additional independent contractor notaries as the pilot is expanded. Please do not reach out to Notarize to ask to handle real estate signing transactions.
How Do I Receive Payment?
All new and existing independent contractor notaries are required to sign up for Stripe Connect. Notarize will send out instructions to each notary on how to register for Stripe Connect.
When Will I Get Paid?
Notaries may customize their payment frequency, which can be as frequent as daily (subject to weekend and holiday availability). Notarize utilizes Stripe Connect to facilitate payments. Notaries should log into their Stripe Connect account to learn more about payment options.
But How Much Will I Really Make?
Independent contractor notaries will initially handle our retail signers. Notaries handling our current retail traffic complete their meetings in 10 minutes, on average. That means you could potentially make upwards of $20-$40 per hour, though handling times will vary on a meeting-by-meeting basis.
To understand the other steps to take for joining the Notarize platform, please read this blog post.
The pricing structure mentioned above is subject to change.
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