PEXA Key App - Tracking your settlement electronically
At Tuckfields, we embrace new technology as it helps us streamline our already efficient processes.
When electronic settlements were first introduced in South Australia in 2016, we were quick to jump on board and make the transition to the PEXA electronic settlements system and this has resulted in many tangible benefits to our clients.
Sadly, cybercrime and fraud is quite prevalent in our industry. We deal with large sums of money on a daily basis, so we have many layers of protection in place to ensure the highest level of security for our Vendors and Purchasers.
There have been occasions where a scammer has intercepted an email from their Conveyancer and changed the trust account details contained in the email, then the client has unknowingly transferred hundreds of thousands of dollars to the scammer’s account. Scary stuff! And so this is why we take security so very seriously…
You can see why we would not dream of providing or accepting account details by email, for example. Instead, we use the PEXA Key App which offers high-level settlement tracking and importantly, a secure way to communicate bank account details.
The PEXA Key App enables Vendors to provide their account details safely, and these are then automatically uploaded into the PEXA system for settlement. This also prevents any errors when entering account details, such as reading handwritten numbers incorrectly.
The PEXA Key App also enables us to safely provide our trust account details to Purchasers, so they can transfer funds to our trust account prior to settlement.
Vendors and Purchasers can also receive updates on the progress of a property settlement via the App.
Using the PEXA Key App is one of the many ways that Tuckfield Conveyancing maintains the exceptional quality of customer service you’ve come to know and expect from us. To find out more about the PEXA Key App – click here.
If you have any questions at all about the settlement process, or anything else related to your property transaction, please get in touch with our friendly team today.
Please note that the information contained in this article is of a general nature only and does not constitute legal advice. Tuckfield Agent Solutions does not take responsibility for any errors or omissions obtained from the use of this information.