Getting Started with Calmony

Calmony provides digital client accounts specifically designed for property professionals. Offering all the familiar features of traditional high street bank client accounts, Calmony goes beyond what banks can offer agents, ensuring faster payments and smoother operations.

Why Choose Calmony?

• Purpose-built for property professionals
• Digital-first solution with full integration capabilities
• Already compliant with upcoming 2025 banking regulations
• No risk of sudden account closure
• Funds safeguarded at the Bank of England

Application Process

Initial Application

• Complete our online application form
• Provide company details including registration number (if applicable)
• Include information about managed properties and turnover
• List all directors/shareholders who own 25% or more
• For current pricing options, visit our plans page

AML Checks

You'll need to complete two types of checks:

• Credas check: A standard AML verification
• Griffin verify: Required for the client bank account Each director/significant shareholder (25% or more ownership) will need to complete both checks.

Required Documentation

• CMP (Client Money Protection) certificate if applicable
• Company registration documents
• Tax identification number (found on T600 tax return for limited companies)
• Bank account details for company

What Happens Next?

• We confirm receipt of your application
• AML checks are sent to relevant parties
• Company verification process begins
• Once verified, we'll request direct debit setup
• Account opening process begins
• Login details provided
• System walkthrough scheduled

The entire process moves as quickly as possible once all requirements are met and checks are completed.

Account Types

Calmony offers three types of client money accounts:

General client money (most common)

• Holds money belonging to one or more clients
• No prerequisites beyond standard checks

Designated client money

• Requires explicit written agreement from client

Designated client fund

• Requires explicit written agreement for holding funds together

Important Notes:

• We cannot accept Limited Partnerships, LLPs, Charities, or Overseas Companies
• All directors/shareholders must be individuals (no complex ownership structures)
• CMP (Client Money Protection) membership is required for certain businesses:
  • Required for: Letting agents and property managers in England who hold client money from rental income
  • Not required for: Block management companies, Right to Manage (RTM) companies, or property maintenance companies who don't handle rental income
  • For detailed CMP requirements, visit our regulations page

Next Steps

Once your application is approved:

• You'll receive guidance on verifying your payees
• We'll help set up your account access
• You'll get a comprehensive system walkthrough
• Support team will assist with any queries

Ready to begin? Start your application here

For more information about our services, visit calmony.co