PEXA Key App mobile screens

PEXA Key

Providing protection to buyers and sellers during one of life’s biggest transactions

PEXA Key is a free app that brings peace of mind to buyers and sellers at every step of their property settlement.

The app protects property sellers and buyers against phishing and fraud (backed by our Secure Communications Guarantee) and features a moving checklist with a high-level guide on what happens during settlement.

PEXA Key app testimonial YouTube video play

Cyber security comes standard

In 2022, a reported $24.6 million was lost due to phishing scams.

PEXA Key uses encrypted data for all bank details requested and shared in the app. Any details entered via the app are instantly and securely delivered into the accompanying PEXA Exchange workspace.

Nest Legal talk about how they’re using PEXA Key in their account verification processes to keep customer funds safe.

PEXA Key on desktop screen

PEXA Key Secure Communication Guarantee

The PEXA Key Secure Communication Guarantee protects buyers and sellers if the communication of bank account details is corrupted within PEXA or intercepted due to fraud.

Click here to see the PEXA Key Secure Communication Guarantee terms and conditions.

How to use PEXA Key

  1. Go to ‘Administrator Tools’ and select ‘Manage Subscriber Details’

     

  2. Scroll to the ‘PEXA Key Registration’ section and set ‘Turn PEXA Key invitations on by default’ to ‘On’.

     

  3. The PEXA Key check box will now be selected any time your firm opens a workspace.

  1. When setting up a workspace, check that the box in the workspace is selected (if you have followed the steps above, this will be done be default).

     

  2. Enter your client’s mobile phone number and email address and move through the rest of the steps to set up the workspace.

     

  3. That’s it! Your client will receive a PEXA Key app download link via SMS and email. They simply have to register using the same phone and email you have entered in the PEXA Exchange.

  1. Once you have invited your client to PEXA Key navigate to the Settlement screen.

     

  2. Navigate to the Adjustments and Payments tab and scroll down to Payment Directions. Click on Request Account Details.

     

  3. Select the name of your PEXA Key client from the list.

     

  4. Enter the Amount to be deposited to your clients account at settlement. The amount can be edited later if required.

     

  5. Enter a Transaction description. This is a description that your client will see in the PEXA Key app and will help identify the request for funds. For instance, Sale11Cairnes.

     

  6. Click Save.

     

  7. PEXA will automatically send your client a notification via the PEXA Key app, asking them to complete their bank account details.

    NOTE: The request will remain open until your client completes their Bank Account details.

     

  8. Once the details are submitted by your client, the line item is automatically updated with their Account details.

     

  9. Click Action cog and select Create to move the line item to your destinations, ready for settlement. 

    NOTE: The line item can be edited at any time leading up to your settlement.

  1. First, invite your client to PEXA Key via the Participants screen.

     

  2. Navigate to Settlement screen

     

  3. Select the Source Funds tab.

     

  4. Click the Send Trust Account Details button in the Provide Account Details section

     

  5. Send Trust Account Details screen is displayed.

     

  6. PEXA Key Client: Select the client you want to send your trust account information using PEXA Key.

     

  7. Source Account: Select the trust account you want to send to your client. The details of the account, including BSB, Account number and Financial Institution are then displayed.

     

  8. Amount: Enter the exact amount you want your client to deposit into your trust account.

     

  9. Transaction Description: This is the reference that is displayed in PEXA Key and will be entered by your client when making their deposit into your trust account (For example,  11 Cairnes Sale).

     

  10. Click Send.

  1. First, invite your client to PEXA Key via the Participants screen.

     

  2. Then, navigate to Settlement screen and click into the Source Funds tab.

     

  3. Click the Add Source button.

     

  4. Complete the Source line item, selecting PEXA Source Account.

     

  5. Under the PEXA Key Banner, select the Send my client account details through PEXA Key.

     

  6. PEXA Key Client: Select the client you want to send the PEXA Source account information using PEXA Key.

     

  7. Click Save.

     

  8. Once saved, the Source Funds tab will show the details that have been sent to your client in the Provide Account Details.

PEXA Key blurb

We’ve had a lot of requests for a short blurb about PEXA Key to include in client communications. Feel free to copy and paste the below into your emails or website. Remember to change the text in activation Step 1!

 

PEXA Key, a secure, encrypted digital platform keeping your funds safe

PEXA Key is free and exclusively available from the Apple App and Google Play stores. Using PEXA Key in the lead up to settlement provides you with:

  • Security: Safely confirm your bank account details for settlement with us, using a securely encrypted platform
  • Learn more about settlement: Access guides to help you understand the settlement process

 

To activate PEXA Key, please complete the following steps:

  1. Wait to receive an invitation to use the app from us at <YOUR BUSINESS NAME>. You will receive your invitation by both SMS and email.

  2. Download the free app from the Apple App or Google Play stores.

  3. Follow the steps in the app to activate your account. Ensure your contact details match the ones you have given to us.

  4. Enable push notifications to ensure you receive updates on any task requests.

Frequently asked questions

No, there is no cost to practitioners or buyers/sellers. PEXA Key is free for clients to download.

Email can be intercepted by a third party without the knowledge of the sender or receiver. With PEXA Key, the communication channel is secure as we have verified their details against what is entered in the workspace, and sent your client a 2-factor SMS code. In addition, client information is communicated into the PEXA workspace, and removes the need for a practitioner to manually enter bank account details.  

 No, you can only use the PEXA Key app if you’re set up as the Incoming Proprietor or Proprietor on Title party in a workspace.  

Yes, PEXA Key can be used for as many properties as the client has. The app is designed to be used multiple times if required.  

Please contact our Support Centre on 1300 084 515 or support@pexa.com.au.

Australia Map

In the spirit of reconciliation PEXA acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.

Uluru Statement

We accept the invitation to walk with First Nations Peoples to a better future for us all. For more information visit the UluruStatement website.

Pexa
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