Orchard K Lettings – Client Money Handling Procedures
All money that belongs to clients is held in our general or dedicated Client accounts, this can be rent, deposit money or service management fees.
All payments are made directly into the client accounts. On payment, it is recorded and the required processing will take place as soon as possible, we endeavour to complete all transactions within 3 working days, provided that the electronic banking systems are in operation.
Interest paid on money held in a dedicated client account is retained by the client as it is easily identifiable.
Interest paid on money held in the general client account is retained by Orchard K Lettings due to the complexity of trying to apportion very small amounts of interest across a number of clients.
Any unidentified transactions are considered to be Client money until they can be identified and processed appropriately.