Protecting consumers and
REAL has arranged the Protected Payment System (PPS) to provide you with a simple, secure way of protecting consumers' money paid in advance. The Code requires you to place any money you take in advance from consumers in a third party or 'client' account. The PPS is a convenient way of complying with this.
REAL has worked with Bondpay to tailor the PPS especially for our members. The advantage for consumers is that their money will be protected in the event that you cease to trade before the system has been installed. Equally it protects you by giving you the certainty that you will be paid promptly once an installation has been completed.
When you agree a contract with a consumer, the consumer transfers the full contract funds to Bondpay who hold them in a secure trust account at HSBC Bank. At intervals agreed in the contract, and once the relevant stage is complete, Bondpay releases the money to your bank account.
The PPS differs from the standard Bondpay package in that it dovetails with the REAL Consumer Code and does not include a one year warranty. This makes the system more affordable. REAL derives no benefit, financial or otherwise, from the PPS. To register for, and access, the PPS please use the link below. You will need your REAL membership number and password to log-in.
There is further useful information, including FAQs, available on the Bondpay website.