Use this toolkit to see the rules for handling the money you receive from a client. You can also find practical tips for recordkeeping.
How to handle client money
This toolkit provides best practices for handling client money. It references parts 5 and 7 of the Code of Conduct.
It is a great resource for all Registered Migration Agents, and new registered migration agents in particular.
Download the
Client Monies Toolkit - a best practice guide.
The key principle for handling client money
When clients pay you money, that money belongs to the client until you complete the agreed work.
You must handle client money with:
- integrity
- clarity
- transparency
Integrity
You are holding your client’s money in trust for a specific purpose. If you do not perform the services you and your client agreed to, you are not entitled to keep your client’s money.
If you do not perform the services to the standard agreed with your client, then you must consider giving a refund.
Clarity
Be clear. Tell your client what you will do, what it will cost and how long it will take. This lets your client know what to expect about your service. The more detail you can include in your agreement with your client is helpful to both you and your client and can prevent disputes later on.
Transparency
Transparency protects you. Good records make it easy for you to resolve disputes.
