Block Management Accounts
Say goodbye to delays in opening a client account for a new block management contract. Calmony ensures instant readiness, giving your agency a competitive edge.
Block management accounts, also known as service charge accounts or freeholder accounts, act similarly to client accounts as they are ring-fenced designated accounts.
Step up your Block Management Agency’s efficiency with Calmony, the answer to swift digital client account openings. In an industry where banks can take months to open accounts — even for existing clients — Calmony changes this by opening extra accounts can be opened in 1 business day, ensuring instant readiness when you secure a new block management contract.
Calmony ensures instant readiness, giving your agency a competitive edge by swiftly opening accounts when you need them.
No CMP or HMRC Supervision required to open an account. FSCS Protected.
What is Calmony?
What is Calmony?
Calmony is a specifically designed, digital Client Account for Block Management agents, Build to Rent agents as well as RTM (Right to Manage) agents.
Providing all the familiar features of traditional high street bank client accounts, Calmony goes beyond what banks can do for agents, meaning that you can always open a client account.
No more...
Worrying about not getting an account or losing your existing client account status
Expensive 'same-day' BACS fees or slow manual online banking payments
Paying expensive percentage fees for Payment Collection systems such as GoCardless, PayPal, WorldPay and Stripe who also collect their fee from the gross payment leaving you to top it up manually
Logging in to multiple payment platforms just to pay your customers
Manually entering your payments into online banking or BACS
You get...
A dedicated client account
Open in a matter of days instead of weeks if you pass our AML checks
Calmony Faster Payments
Allows you to bulk pay your customers in minutes instead of days
Calmony Payment App
To request payments from your customers and set up standing orders from your tenants
Calmony Online Banking
Online account access to request and make payments
Upload payment
Using your existing CRM, you can export BACS files and upload to Calmony for paying your landlords same day and in one go
How Calmony protects
against AML & Client Account Fraud
Money In
The payer’s account name and number are shown within Calmony so we know the origin of all payments. They can be returned directly to the payer with a single click if required.
Money out
All payees must have an approved AML check or AML exemption in order to reduce the risk of fraud.
Management fees
Agent income can only be transferred to an approved trading account in order to minimise the risk of client money being transferred to personal accounts.
AML checks
To ensure we are not committing an AML breach, all payees must be AML checked using the built-in tools; or upload your own in-house AML checks.
Monitoring
Calmony monitors the level of payments being made to trading accounts, directors and shareholders in order to look for early signs of the misuse of client funds.
Industry Regulators
Calmony will report to you and your regulator recommending a spot check if there is any suspicious activity - protecting you and your clients
How Calmony differs from a Bank
Calmony is not a bank but an e-money institution authorised under the UK Electronic Money Regulations and is FCA registered 850923.
An Electronic Money Institution (EMI) is a provider of e-money. This money is stored electronically in digital wallets with the physical money held in a bank account with the Bank of England. As Calmony is not a bank, it is not allowed to pay interest on client money.
Calmony brings together the technology and services that banks, BACS and payment providers offer, all under one Calmony.app
End to End Security
Calmony uses two factor authentication to access your account and to make payments, in addition to restricting payments out to chosen users.
Paid Full Amounts
Services like GoCardless take their fee from your payment, meaning you have to top it back up before you pay your landlord.