Completion monies and client account, moved and reconciled safely
Legal money is high-stakes: large completion payments that must reach exactly the right account, and client account funds that regulation requires you to hold entirely apart and account for to the penny. The rails have to be fast, safe and provable.
Large sums, strict accounts, no room for error
Completion monies on a property matter are large, time-critical and unforgiving: the funds must move on the day and reach exactly the right account, because a misdirected completion payment is a crisis, not an error.
Client account money must be held strictly segregated and accounted for per matter, under rules that leave no room for mixing client funds with the firm's own.
Taking funds on account from clients, and returning balances, adds inbound and outbound flows that all have to reconcile against the matter.
The payment mix that fits
Not one rail. The two to four that match how money actually moves here.
Move completion monies and returns the same day, with Confirmation of Payee before large funds leave.
Hold client account funds in segregated accounts, accounted for per matter.
Take funds on account and disbursement payments from clients over a bank link, referenced to the matter.
Your flow of funds, orchestrated
Clients pay funds on account over Pay by Bank, referenced to the matter. Client money is held in segregated accounts, accounted for per matter. At completion, funds move over Faster Payments with a Confirmation of Payee check before a large sum leaves, and balances are returned the same way. Every inbound, held and outbound amount reconciles against the matter on one ledger, with a clean audit trail.
Every book moves money differently. We map your flow of funds and quote one integration across the rails that fit.
Related
Payments for solicitors and conveyancers: FAQs
Confirmation of Payee checks the destination before a large sum leaves, and every movement is referenced to the matter, so a misdirected or unreferenced completion payment is far less likely.
Held in segregated accounts and accounted for per matter, entirely apart from the firm's own funds.
Yes, over Pay by Bank, referenced to the matter, so inbound funds reconcile against the right file without manual matching.
Tell us how you get paid
Send us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.