Overseas Landlords Without a UK Bank Account

Overview

If your landlord is based overseas and does not hold a UK bank account, there is a simple and fully compliant solution that allows them to be paid directly through Calmony. This article explains the recommended process to get them set up quickly and efficiently.

The Recommended Solution: Landlord Opens a Wise Account

The cleanest and most compliant approach is for the overseas landlord to open their own Wise account. Wise provides international account holders with a set of UK bank details (sort code and account number), which can then be used within Calmony exactly like any standard UK bank account.

Why this approach?

• The payment flows directly from Calmony to the landlord - no intermediary involved
• The landlord remains within the standard payee verification process
• It satisfies AML/KYC compliance requirements
• It keeps the audit trail clean and straightforward

Step-by-Step Process

1. Identify the situation - The landlord advises that they do not hold a UK bank account.
2. Direct the landlord to Wise - Ask the landlord to sign up for a personal Wise account at wise.com. This is free to set up and available in 160+ countries - the landlord should check wise.com to confirm availability in their country. 
3. Landlord obtains UK bank details - Once registered, Wise provides the landlord with a UK sort code and account number under their own name.
4. Landlord shares details with the agent - The landlord provides these UK bank details to the letting agent in the usual way.
5. Agent adds landlord as a payee in Calmony - Using the Wise-issued UK bank details, the agent adds the landlord as a payee and completes the standard landlord verification process within Calmony.
6. Payments proceed as normal - Once verified, payments are made directly from the Calmony client account to the landlord's Wise account, just like any UK bank transfer.

Important: Why the Agent Should Not Act as an Intermediary

You may wonder whether the agent could open a Wise account themselves and forward funds to the overseas landlord. This approach is not recommended and is not compliant with Calmony's policies for the following reasons:

• Paying into the agent's own Wise account rather than the landlord's account could bypass the landlord verification process entirely
• This creates a compliance risk - the landlord would not be subject to the required AML/KYC checks
• It introduces an unnecessary intermediary into the payment flow, which complicates the audit trail

The landlord must always be verified within Calmony as a payee, and funds must flow directly from the Calmony client account to the landlord.

Summary

Need Help?

If you have questions about landlord verification or international payments, please contact the Calmony support team at support@calmony.co

For further information on how Wise accounts work, including supported countries and currencies, visit wise.com directly.