Help trial a pay as you go alternative to client account with Transpact.com and the CLC

9 December, 2024

Third Party Managed Accounts (TPMA) provided by FCA authorised firms offer law practices the chance to de-risk and simplify the handling of client money in conveyancing transactions.

Transpact.com (one of two TPMA services that are authorised by the FCA as a Payment Service Provider) are making CLC-regulated firms an offer so that they can assess the benefits of TPMAs themselves, and so that the CLC can gather more information about the impact of TPMA in operation:

• No initial and No monthly fee – use as much or as little as you wish.
• £120.00 per transaction

CLC members simply need to add the code CLC120 to the escrow conditions they create for the TPMA transaction to activate the special offer for any transaction – it is that easy.

If you want to learn more, please get in touch with the legal team at Transpact.com at Conveyancers@Transpact.com.

Whilst the first use of a TPMA will be a new and learning experience for any conveyancer, taking some time to think through and understand the processes and liabilities, for the second and subsequent transactions there should be a significant time saving in addition to security enhancements .

The CLC will be in touch with a questionnaire to assess your firm’s experience of using TPMA if you decide to take part in this trial.