PEXA Key is a new secure app for clients through which bank account details required for settlement can be exchanged and clients can track their settlement’s progress.
When sellers input their bank account details into PEXA Key, the app communicates this information into their practitioner’s PEXA Workspace, eliminating the need to engage insecure communication channels and risk interception by a third party. This solution also removes the need to rekey bank account information and enables the practitioners to provide their firm’s trust account details securely to the buyer.
Watch short videos on what the client sees in the app below:
You can also ask any questions on PEXA Key in the PEXA Key discussion forum.
PEXA Key is available in all active e-Conveyancing states and stands to support practitioners by offering a safe alternative to insecure communication methods such as email, where bank account details can be intercepted, and payments subsequently redirected.
Website
For more details and links to App store and Google play stores, head to: https://key.pexa.com.au/
A big thank you to those who were involved in the PEXA Key pilot - your feedback has been instrumental during the app’s development.
If you have any questions about PEXA Key, please ask them in the e-Conveyancing Community or contact your PEXA Direct Specialist. You can also refer to our What to expect articles for PEXA Key at the bottom of this page.
IMPORTANT NOTE: Ensure the mobile number and email address details are correct. You won’t be able to update this information after saving (for security reasons).
NOTE: The request will remain open until your client completes their Bank Account details.
NOTE: The line item can be edited at any time leading up to your settlement.
Your client will receive a push notification on their phone, and will have a new task in the PEXA Key app.
After opening the app, your client will see the task titled Funds requested for settlement.
Your client will:
Completing the Transfer
To indicate that the transfer has been completed, your client will:
Completed tasks
Once completed, your client can return to the app and to view the details of the completed task at any time.
What Your Client Will See
Your client will receive a push notification on their phone, and will have a new task in the PEXA Key app.
After opening the app, your client will see the task titled Funds requested for settlement.
Your client will:
Completing the Transfer
To indicate that the transfer has been completed, your client will:
Completed tasks
Once completed, your client can return to the app and to view the details of the completed task at any time.
Our PEXA Key Consumer APIs provide your clients with PEXA Key features from the convenience of your organisation's own customer app. This means that instead of receiving an invite to download PEXA Key directly, your clients will use your organisation's app to securely send their bank account details.
Once your organisation is integrated with us, you can choose to use it in any workspace. When creating the PEXA party record, we will ask you to enter your client's mobile phone number and email address to check against the information we receive via the API integration. This is to ensure a high degree of security when receiving sensitive client details.
Currently the PEXA Key Consumer API is only available under a B2B authentication model for Subscriber-owned consumer apps. If you are a PEXA subscriber, you have a consumer app, and would like to use the PEXA Key Surplus Account Details API functionality within the app, please reach out to the team.
PEXA Key is exclusively available to download from the Google Play Store and Apple App Store.
PEXA Key provides high-level settlement tracking up to settlement completion including a countdown to settlement time and a final notification when the property has settled. Importantly, PEXA Key:
If for some reason you enter an incorrect mobile number or email address, you must follow these steps to make a change:
No, SettleMe is no longer available.
PEXA Key is free
When a client has accepted and activated PEXA Key, the PEXA Key icon will appear green next to their name in the Workspace summary screen in the PEXA Workspace.
PEXA will not disclose your client’s personal information to any third party without their express consent (e.g. if they expressly opt-in to receiving marketing material from within the PEXA Key application).
The PEXA Key Secure Communication Guarantee guarantees the secure communication of bank account details between a client and their practitioner. This means:
Yes, any individual represented by you (and has a Party record in a Workspace) can be invited to track their settlement via PEXA Key.
In the instance where bank account details must be requested for the same settlement from different parties, you must request each of the bank account details one at a time.
If you are requesting multiple bank account details from the same individual client, only one request per client can be sent at a time, so you must wait for your client to submit the first lot of bank account details before requesting the second.
Using the bank accounts submitted, distribute the funds accordingly within the Workspace’s Financial Settlement Schedule.
In this instance, you must request each bank detail one at a time.
Only one request per client can be sent at a time, so you must wait for your client to submit the first bank account before requesting the second. Then, using the bank account submitted, distribute the funds accordingly within the Workspace’s Financial Settlement Schedule.
We are always looking at new ways to enhance the PEXA Key experience for both buyers, sellers and practitioners.
We are currently working on ways to provide more visibility to what your clients are seeing and different ways to inform you once they have downloaded and activated the app. You can leave any feedback or suggestions on the PEXA Key community page or alternatively through the Feedback tab in PEXA.
Email can be intercepted by a third party without the knowledge of the sender or receiver. With PEXA Key, the communication channel is secure, we have verified their details against what is entered in the Workspace and sent your client a 2-factor SMS code. In addition, client information is communicated into the PEXA Workspace, and removes the need for a practitioner to manually enter bank account details.
If for some reason a client requests to change the bank account details they submitted via PEXA Key, we recommend reinitiating a new PEXA Key request. This will ensure that your client enters the correct bank account using the secure communication of PEXA Key. Please do this by clicking “Request Bank account details” under payment directions in the FSS screen and filling in the required fields.
You can manage the line item according to the change that comes through from your client.
Please send any PEXA Key questions or support queries via email to our support team on support@pexa.com.au or call 1300 084 515.
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