How are the payments for each job stage determined?
The tradie (contractor) undertakes the normal quote process and provides a written quote for the work to be done. The quote should provide a detailed breakdown of the number of stages and the amount to be paid for each stage.
As the homeowner, you have the option to agree or propose alternate amounts for each stage. Once both parties agree, the quote can be finalised, the first payment is transferred into the Trust account and the job can commence.
How am I notified about payment transfers and completed job stages?
Both SMS and email notifications are automatically sent to your nominated mobile phone and email account submitted when you registered with TradeEpay.
Can I use TradeEpay to pay for any work I need done by a tradie?
Yes, you can. TradeEpay is the smarter, safer way to manage stage payments on projects, ranging from a single payment through to multiple progress payments for larger jobs.
Simply ask your tradie to download the TradeEpay app or visit our website for more information or to contact us.
When I transfer my payment, where does the money go?
The money you transfer is securely held in a Commonwealth Bank Trust account that is independently managed by Perpetual as trustees.
How do I know that the money transfers I make are safe and secure?
We use market leading payment platforms to facilitate all payments made by homeowners into the Trust account. Payment transfers out of the Trust account are processed by the Commonwealth Bank of Australia using their secure payment platforms, and only on the instruction of Perpetual as trustees. As added security, we verify all requests for payment transfers using two-factor authentication.
Is the stage payment safe? Who can access it?
Your stage payment is as safe as any money held in the bank. The payment can only be transferred from the Trust account to your tradie when you are satisfied that the stage has been completed. You do this through the TradeEpay app by confirming Stage Complete and entering the two-factor authentication code sent to your phone.
As a tradie, how am I assured of getting paid after completing the job stage?
The job stage payment is already held in the Trust account, before you start work on each stage. When you notify the homeowner the job stage is complete and the homeowner agrees, the job stage payment is released into your nominated bank account. TradeEpay’s clear and timely online communication makes it easy for you and the homeowner to agree that a job stage is complete.
What if the homeowner refuses to agree that the job stage is complete?
If you cannot reach agreement on the completion of a stage, contact us via the app or our website and we can provide you with options for how you can resolve your dispute.
Rest assured, though, that your funds will continue to be held safely in the Trust account and will only be released according to how you have settled the dispute.
How does a tradie issue a refund / negative variation if one is required?
In order to issue a refund / negative variation, both the homeowner and tradie must agree that a refund is required, and both must agree on the $ amount to be refunded before a refund can be issued. Once an agreement has been reached by both parties, the tradie is required to complete and sign the Refund Authorisation Form and contact TradeEpay to process the request. We will then contact both parties to confirm the details of the refund.
As per TradeEpay’s Terms and Conditions, the payment processing fees are non-refundable.