Ensuring Your Money
Is Fully Protected

All Lettings and Property Management agents must provide their Client Money Protection Policy and certificate on their website. This policy is strictly adhered to and underpinned by a well-recognised, FCA-regulated bank.

Client Money Protection Policy

1. Dedicated Client Account: Wulstans maintains a separate client bank account solely for client funds, as required since April 1, 2019.
2. Regulated Banking: All client funds are held in UK financial institutions authorised by the Financial Conduct Authority (FCA) and covered by the Financial Services Compensation Scheme (FSCS), ensuring availability within a maximum of 31 days.
3. Clear Account Identification: The client account is distinctly titled and separate from operational accounts, labeled as ‘Client Account.’
4. Bank Confirmation: Wulstans holds written confirmation from the bank that all client money is held as an agent, with no rights of set-off or counterclaims against these funds.
5. Robust Financial Controls: Internal monitoring systems, regular internal audits, and external annual audits ensure full compliance and financial security.
6. Secure Accounting Systems: All accounting systems and client data are protected by industry-leading, accredited lettings software.
7. Client Authorisation: Payments from client accounts are only made with prior written client approval.
8. Timely Deposits: Any funds received by cheque, cash, or draft are deposited into the designated client account within three business days.
9. Authorised Staff Only: Only nominated and authorised personnel handle client funds.
10. Detailed Transaction Records: Comprehensive records of all client money transactions are maintained.
11. Transparent Policies: A written procedure for handling client money is readily available at no cost upon request or via our website.
12. Daily Account Reconciliations: Client accounts are reconciled daily against bank and cash balances to ensure accuracy.
13. Sufficient Fund Maintenance: The client account always holds enough funds to meet payment obligations.
14. Prompt Client Repayments: Any unused client money, including accrued interest where applicable, is returned without delay upon request or when no longer required.