We use Open Banking technology to process payments made within Tenancy Manger. We work with Ecospend to provide this service.
Once a tenant has signed the Holding Deposit Explained document, they’ll be sent an automated email asking them to pay their holding deposit.
When a tenant clicks the payment link, they’re prompted to securely connect to their online banking platform from a list of banks. They then authenticate and log in to their online banking account as normal, where they’re then asked to approve the payment.
Once approved, the money is transferred directly from the tenant’s account into the agent’s account. The money doesn’t pass via Rightmove or the payment provider, making the process as fast and secure as possible for you.
The process is the same when a tenant is prompted to pay their move-in moneys.