Foxtons slashes bank charges with Albany ePAY

Foxtons Estate Agents is using Albany ePAY electronic payments and collections software to process 6,000 weekly transactions with Bacs directly, saving £50,000 a year on banking fees.

Foxtons Estate Agents is using the Albany ePAY electronic payments and collections software to process 6,000 weekly transactions with Bacs directly, saving £50,000 per annum on banking fees.

The software replaces a combination of separate systems to handle both its lettings client payments and corporate payments, Foxtons wanted to consolidate its transaction processing onto one system and save money on banking fees.

“Before implementing Albany ePAY, we were processing transactions through a combination of different payment solutions, making the process complex and costly," said Gerard Nieslony, Foxtons Group financial controller. "Albany ePAY has enabled us to standardise both lettings client and corporate payments from a single central server, with one central administrator, delivering a much cleaner and neater way of dealing with our transactions.”

Foxtons went live with the ePAY solution in September 2011. Since then the software has been used on a daily basis for all transactions, including lettings client payments as well as paying suppliers and staff through the monthly payroll.

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