FENSA Secure Payments is an Escrow service that allows homeowners to pay your FENSA Approved Installer in advance for your window or door installation and place the funds with a trusted third party until your conditions have been met or the job has been completed. It means both homeowners and installers can transact with peace of mind knowing that they are protected.
Where Is The Money Held?
Money is held in a protected, “safe-guarded” Barclays bank account. A safeguarded account doesn’t generate interest because even the bank can’t use your funds for investments, it’s that well-protected.
Escrow is a legal agreement that allows homeowners to pay in advance for a good or service and hold funds with a trusted third party, in a secure bank account, until conditions have been met or the job has been completed. Both parties can transact with peace of mind knowing that they are protected.
· Keep funds in a safe place whilst you agree details and milestones and to ensure the job gets done as agreed
· Know who you are transacting with online as everyone’s identity is verified.
· Peace of mind! Who doesn’t want that? Feel protected by transacting using a secure payment method, because we verify every user.
· You’re in control. Top up to add funds into the dedicated account, make partial payments or request money back if you’re unsatisfied.
· Release partial payments from your account.
The homeowner and installer agree on a price for the work
The homeowner transfers the agreed amount into a secure escrow account. The installer receives confirmation of the payment.
The homeowner approves the payment based on the work being completed.
The installer receives the money into their account in 15 seconds after approval.