Ammoze collects and holds sales deposits for your agency. We hold the deposit in our trust account, run AML/CTF checks on every buyer and seller, and pay everyone out when the sale completes. Your team gets on with selling.
A LITTLE CLARITY
AmmozeFAQs.
Good questions. Clear answers.
No. Ammoze holds sales deposits in our own regulated trust account, so you will no longer have a need for one. That means no sales trust audits, no reconciliations and no more chasing sales deposits.
Ammoze is licensed and registered in every state and territory except the Northern Territory and Tasmania.
We run AML checks on every party involved with the sale. That covers every buyer and every seller, however many there are, whether they're individuals (KYC) or businesses (KYB). Your team doesn't have to collect IDs or chase documents, as it is a self-service process through the Ammoze app.
Through the Ammoze app. The buyer pays by direct debit straight into our trust account, then verifies their identity in the same workflow. Your agency's bank details are never shared by email or SMS, so there's nothing for a scammer to intercept or fake.
Ammoze will cross check that the bank account sending the deposit amount is in the same name as the buyer who has gone through the AML/CTF checks, eliminating any risk of accidentally facilitating a fraudulent payment.
Deposits sit in Ammoze's regulated trust account – a Real Estate Trust Account, meaning we are held accountable under the same governance as any other Real Estate business. The money can't be accessed until the sale completes and payout is authorised. Your agency never holds it.
At completion, Ammoze pays out the vendor, your agency and any other parties from the deposit, in line with the sale. You can track every step in real time.
The deposit is handled under the terms of the contract, just as it would be in your own trust account. Ammoze releases the funds once the right authority is given, so you're not stuck in the middle.
Any refund or adjustment is processed through Ammoze to the verified account the money came from. No manual refunds to new or unverified bank accounts.
Setup is quick and there's no new hardware or software to install. We walk your team through a live sale, then help your team learn the Ammoze app.
Book a demoNo. Ammoze works alongside your CRM and agency software. It looks after deposits, AML checks and payouts, which are the parts that carry the most risk and admin.
Yes. Use our trust cost calculator to see what your sales trust account is costing you today, or book a demo and we'll walk through your numbers.
Trust cost calculatorYour agent uses Ammoze to collect and hold sales deposits securely. You pay through the Ammoze app, straight into a regulated trust account, so you never have to transfer money to bank details sent by email or text.
Australian anti-money laundering laws require identity checks on everyone in a property sale. Ammoze checks every buyer and seller, whether they're individuals or businesses. It only takes a few minutes in the app.
Yes. Your deposit is held in Ammoze's regulated trust account. It can't be released until the sale completes and payout is authorised. Your money is protected by Australian Law and Ammoze is responsible for reporting the allocation of every dollar during our audits.
No. Buyers don't pay Ammoze any fees. For buyers, this is a tool your agent has for you to fulfill your AML/CTF obligations and facilitate secure payments.
At completion, Ammoze pays out the deposit in line with your contract of sale. Your conveyancer or solicitor will confirm the settlement details as usual, at which time your Agent will trigger the payout of funds via Ammoze.
Don't pay it. Ammoze deposits are only paid through the Ammoze app. If anyone sends you bank details by email, SMS or phone, contact your agent and Ammoze before you do anything.
Contact the Ammoze team directly through the app or our website. For contract questions, speak to your conveyancer or solicitor.
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