How does it work
Bill Exchange is a service which securely connects billers to registered Real Estate Agents. Acting as an electronic post box for registered Real Estate Agents; Bill Exchange receives electronic bills directly from billers such as Local Councils, Water Authorities and Strata Managers.
Once received the Agent simply pays each creditor by EFT and sends the corresponding electronic remittance to Bill Exchange who delivers it to the biller.
The process is completed in 5 easy steps:
- Billers such as Local Councils record within their mail files those registered Real Estate Agents which are Bill Exchange recipients.
- Next bill run, the Biller sends their electronic file to their fulfilment house who sends those notices which are marked for registered Real Estate Agents directly to Bill Exchange.
- Bill Exchange notifies each registered Real Estate Agent and they then securely download their electronic bills.
- When ready to pay the Real Estate Agent sends one EFT payment for all their managed properties to each Biller and uploads a Remittance Schedule to Bill Exchange for the corresponding payment.
- Once payment is received the Biller simply downloads from Bill Exchange an aggregated Remittance Schedule which is formatted to enable automated reconciliation. Contained within the file are details such as amount paid per property, the associated unique assessment number (or similar) and the date paid.
|Electronic rate notices||Reduce your carbon footprint
Reduce postage and handling costs
Compatible with major fulfilment houses such as SEMA and Forms Express
|One electronic deposit per Real Estate Agent||Slash transaction costs|
|One aggregated remittance file from each Real Estate Agent||Significant back office effiencies - compatible with major platforms such as Infor Pathway, Technology One, Civica and Agentplus|
|Fits with current workflow and relationships||Easy - little training required for staff and no changes to existing banking and collection relationships|
|Software as a service||Simple - no additional software to purchase or support|
|No establishment or monthly fees - a flat fee per bill paid||Transparent - only pay for what you use and for those bills paid|