A notary's compensation varies significantly depending on their employment status and the nature of the services they provide. While some notaries receive a regular salary from an employer, others earn fees directly from clients for each notarization or specialized service.
Notary Payment Models Explained
Understanding how a notary gets paid requires examining the different roles a commissioned notary public might fulfill.
Employed Notaries (e.g., Bank Notaries)
Many individuals who are commissioned notaries public work for an employer, such as a bank, law firm, real estate office, or title company. In these scenarios:
- Salaried Position: The notary is primarily an employee of the organization and receives a regular salary. Their notary duties are typically part of their broader job description.
- Employer Pays Salary: The bank or company pays their salary, and any notary services performed for the employer's clients are considered part of their general duties. For instance, if you get a document notarized at your bank, the bank does not usually charge you a separate fee; the service is often complimentary for account holders as part of the bank's customer service.
- Potential for Raise: Becoming a commissioned notary can enhance an employee's value to their organization. In some cases, an employee might even receive a raise due to their additional function and the convenience they provide by offering in-house notarization services.
Independent Notaries and Mobile Notaries
Independent notaries, including mobile notaries, operate their own businesses and generate income by charging fees directly to their clients.
- Fee-Based Income: They earn money for each notarization they perform. These fees are usually state-regulated, with maximum amounts set by law to prevent overcharging. For example, in California, a notary public can charge a maximum fee per signature notarized, as outlined by the California Secretary of State.
- Additional Charges: Beyond the notarization fee, independent notaries often charge for:
- Travel and Convenience: A mileage or travel fee to meet clients at their preferred location (home, office, hospital).
- Printing and Document Preparation: Fees for printing large document sets or preparing specific forms.
- Waiting Time: If a client is significantly delayed for an appointment.
- Examples: This model applies to notaries who offer services for general documents like affidavits, power of attorney forms, or simple acknowledgments to the general public.
Loan Signing Agents (LSAs)
A specialized type of independent notary, Loan Signing Agents (LSAs) focus on the notarization of real estate loan documents.
- Specialized Fees: LSAs charge a flat fee per loan signing appointment, which is typically much higher than a standard notarization fee. These fees compensate them for:
- Expertise: Knowledge of various loan documents and the signing process.
- Time Commitment: Loan signings can be lengthy, often lasting 45 minutes to an hour or more.
- Document Handling: Printing large loan packages, guiding borrowers through documents, and ensuring proper execution and timely return.
- Who Pays: LSAs are typically paid by title companies, escrow companies, or signing services that coordinate the closing process. Learn more about the role of an LSA at Loan Signing System.
Remote Online Notaries (RON)
With the rise of digital services, Remote Online Notaries (RON) perform notarizations virtually using audio-visual technology.
- Digital Fees: RONs charge fees for their online notarization services, which can be per document, per session, or a combination.
- Technology & Security: Their fees often account for the secure technology platforms used, enhanced identity verification processes, and the convenience of remote access.
- Accessibility: RON allows clients to get documents notarized from anywhere, removing geographical barriers. Explore more about RON at the National Notary Association.
Factors Influencing Notary Earnings
Several factors can impact how much a notary earns:
- State Regulations: Each state sets maximum fees for notarizations, which notaries cannot exceed.
- Location: Notaries operating in densely populated areas or regions with high demand for notary services may have more opportunities.
- Type of Service: Specialized services like loan signings or remote online notarizations generally command higher fees than basic notarizations.
- Volume of Work: For independent notaries, higher demand and more appointments translate directly into increased income.
- Business Expenses: Independent notaries must account for business costs, including supplies, errors and omissions (E&O) insurance, marketing, and transportation.
Summary of Notary Payment Methods
Notary Type | How They Get Paid | Who Pays Them | Key Characteristics |
---|---|---|---|
Employed Notary | Salary | Employer (e.g., Bank, Law Firm) | Notary duties are part of a larger job; service often complimentary to clients. |
Independent/Mobile Notary | Fees per notarization/service | Direct Client | Charges state-regulated fees; may add travel/convenience fees. |
Loan Signing Agent | Flat fee per signing | Escrow/Title Company, Signing Service | Specializes in real estate loan documents; higher fees due to complexity and time. |
Remote Online Notary | Fees per session/document | Direct Client (online) | Performs notarizations virtually; utilizes secure technology for identity verification. |
In conclusion, a notary's income stream is highly dependent on whether they are an employee receiving a fixed salary or an independent professional charging per service.