The Redpin Collection Account is a free professional account that assigns every property deal its own dedicated balance. Instead of managing client funds through a single pooled account, lawyers and estate agents can see exactly where every payment stands -
deal by deal, in real time.
When funds arrive, Redpin automatically assigns them to the correct balance for the workspace. No manual matching. No spreadsheets. No cross-referencing bank statements.
Solicitors and estate agents managing multiple completions at the same time know that client money accounts at banks weren’t made for property transactions. Working out which deal a payment made into your bank account belongs to means opening spreadsheets, pulling bank statements, and piecing the picture together by hand. It’s time-consuming, error-prone, and it takes you away from the work that matters most — your clients.
Redpin's Collection Accounts eliminate that process entirely. Every deal’s funds are separated from the first payment, clearly labelled, and always visible. When it’s time to complete, you see exactly what’s available to disburse — and you pay all parties with a single click.
Occasionally, you’ll need to manually assign funds to a particular workspace. This would be the case if Redpin cannot match a payment with a given workspace.
Assigning funds to an appropriate workspace is simple:
When you log in, you’ll receive a notice that funds haven’t been allocated in your Collection Account.
Click on the incoming funds, and select the workspace from the dropdown menu. That's it!
Questions? Speak to your account manager or contact us at [email protected].
It’s a free professional account inside Redpin that gives every property deal its own dedicated balance. Instead of managing client funds through a single pooled bank account, you see exactly where every payment stands — deal by deal, in real time.
Yes, absolutely. You can continue using any combination of the Collection Account and individual Buyer or Seller wallets. The Collection Account will display balances for funds that have been placed into your Collection Account, while the Buyer and Seller wallets will show funds that sit in those individual wallets. This gives you flexibility to manage transactions in whatever way works best for each deal and for each of your clients.
A bank CMA holds all your client funds in a single account — you have to manually work out which funds belong to which deal. With the Redpin Collection Account, every deal has its own separate balance, and funds are assigned automatically when they arrive. There are no fees, no bank visits, and no manual reconciliation.
No. Redpin's Collection Accounts are completely free for you and your clients. There are no setup fees, no monthly charges, and no transaction costs.
When you send a payment request, Redpin tracks the exact workspace that the payment was requested for. As funds arrive, Redpin assigns the payment to the correct deal balance automatically. There’s nothing for you to do manually.
Any funds that arrive without a deal reference will sit as unallocated in your Collection Account until you assign them. You will be notified when you next log in and can manually assign funds to the appropriate workspace.
You’ll need to assign your existing funds to the appropriate deal balances. It’s a one-time step that most professionals complete in under five minutes. You can do it yourself from within Redpin, or your account manager will walk you through it.
The functionality of the Redpin Collection Account is tied to a workspace. So to use it for a buyer or seller who has not been onboarded, you would need to create a workspace, deliver your Collection Account VIBAN to the buyer, and manually assign funds as they arrive. You can then create a disbursement from the Collection Account upon completion.
We are working on functionality that simplifies the experience for non-registered buyers or sellers.
Yes. When you’re ready to complete, you can disburse from your Collection Account to any Redpin wallet or any third-party bank account. Wallet-to-wallet transfers are instant. External transfers are processed via SEPA Instant and typically arrive within minutes.
Login to Redpin and click on your Collection Account. Every deal’s balance is displayed clearly and separately — updated in real time as funds arrive and are disbursed. No spreadsheets or bank statements required.
Absolutely - security is a main reason behind building Redpin. Redpin requires multi-factor authentication for all users. Client account details are never shared via email. The platform is regulated by the Bank of Spain and backed by more than 20 years of experience processing over 700,000 transactions.
Yes. Many professionals begin by running the Redpin Collection Account alongside their existing bank Client Money Account on a single transaction to see the difference. There’s no requirement to switch everything at once — and no cost to try.
Your dedicated account manager is always available to help. You can also reach the Redpin team at [email protected] or +34 910 786 109.