FAQ
Frequently Asked Questions
Find answers to the most common questions about PayLocker’s services, features, and benefits.
PayLocker charges fees only on successful transfers, avoiding subscription fees and hidden charges, providing better affordability and transparency.
Partnering with us protects your funds and stakeholder payments while enhancing your reputation in the construction industry.
PayLocker allows for a variety of construction-related payments, including those between owners, builders, contractors, tradespeople, and suppliers.
We use advanced security measures, including multifactor authentication and government-backed account protection, to ensure the safety of your funds.
You only incur fees when a transfer is successfully completed, making our pricing model transparent and predictable.
PayLocker’s maximum fee is 0.99% on all transactions, allowing for flexibility based on your project needs.
Payment processing times can vary, but we strive to ensure timely transactions, often completing them within a few business days.
PayLocker acts as a neutral platform, facilitating communication between parties to resolve disputes efficiently.
You can reach our support team via email, phone, or through the contact form on our website for any inquiries or assistance.
Yes, depending on the type of transaction, you may be required to provide certain documentation to ensure compliance and security.
PayLocker offers integration options with popular accounting software to streamline your financial processes.
Immediately contact our support team, and we will investigate the issue and take necessary actions to protect your account.
Yes, your money is fully protected and allocated strictly for your construction project. Funds are held in a dedicated PayLocker project account, ensuring they are used by the builder, for contractors, tradespeople, and suppliers involved in your project. PayLocker prevents fund misuse by tracking and auditing, ensuring that transactions align with the project's terms. To further reduce risk, consider employing a quantity surveyor for staged completion checks, ensuring payments reflect the quality of work.
No, only authorized parties can access your funds. PayLocker uses advanced security features, including fraud detection, multi-layered authentication, and encryption, to prevent unauthorized access and ensure your funds are secure. Not even PayLocker can access your funds without your permission.
Your funds are securely held with ASL, a reputable Australian licensed government-backed bank, with each account holder having insured protection up to $250,000. The funds are kept in your PayLocker building account, solely for your construction project and payments, adding an extra layer of security.
The 48-hour time block is designed to provide a safeguard against fraudulent or unauthorized transactions. By introducing a delay between payment approval and transfer, PayLocker gives users extra time to verify the legitimacy of a transaction, preventing hasty decisions made under pressure or emotional manipulation.
ASL is a well-established, reputable bank backed by the Reserve Bank of Australia. It partners with major financial networks such as BPAY, SWIFT, AUSPAYNET, EFTPOS, and VISA, and has developed PEXA, the world’s first digital property settlement platform, ensuring secure and efficient transactions.
Funds can only be withdrawn after a formal dispute resolution process and mutual agreement between the parties, ensuring transparency and fairness in fund management and distribution.
If your builder becomes insolvent, your funds remain protected. Only a small portion may be affected, while the majority of your funds will be preserved, ensuring that your money isn’t seized by a receiver. This allows you to continue the project with a new builder without a major financial loss or disruption.
With PayLocker, your client’s funds are securely held in a project account. Payments to you, contractors, tradespeople, and suppliers are made automatically based on completed and approved work, eliminating the need for upfront cash flow deposits and simplifying financial management.
Partnering with PayLocker provides builders with a competitive edge. It guarantees clients that their funds are securely allocated to their specific project, enhancing trust and minimizing disputes. By offering financial security, builders can distinguish themselves from unreliable competitors, particularly those who undercut prices but lack the capacity to complete the job. This distinction helps builders attract more clients and win projects based on quality and reliability, rather than competing solely on price.
Payments are processed through PayLocker after work is approved. You retain ultimate control over the build and payment approval, while client funds remain locked in the project account for transparency and security.
PayLocker protects against fraud and financial risks, ensuring transparency and safeguarding client funds. It enhances your reputation as a builder committed to ethical practices, attracting more business and fostering long-term trust.
While isolating funds internally may seem viable, using PayLocker provides a higher level of trust and transparency. PayLocker reassures clients that their funds are fully protected, enhancing your reputation and offering a more reliable solution.
The 48-hour time block is designed to provide a safeguard against fraudulent or unauthorized transactions. By introducing a delay between payment approval and transfer, PayLocker gives users extra time to verify the legitimacy of a transaction, preventing hasty decisions made under pressure or emotional manipulation.
PayLocker secures client funds, ensuring they are used as intended. This greatly reduces the uncertainty of relying on the builder's financial stability and guarantees your payments.
PayLocker requires the builder to approve your payment before they can receive theirs, ensuring fairness and reducing the risk of payment delays or disputes.
PayLocker secures funds before your work begins. If needed, you can request early payment (fees apply) to cover initial expenses, ensuring smooth cash flow while maintaining project security.
Each project has its own account, providing transparency and proper fund management. You’ll receive all relevant details, including the project account number and cost breakdown.
Yes, PayLocker offers unprecedented security, ensuring payments are protected, even in cases of builder insolvency. It greatly reduces uncertainty, providing financial stability throughout the project and ensuring fairness and prompt payments.
The 48-hour time block is designed to provide a safeguard against fraudulent or unauthorized transactions. By introducing a delay between payment approval and transfer, PayLocker gives users extra time to verify the legitimacy of a transaction, preventing hasty decisions made under pressure or emotional manipulation.
Whether you're employed or contracted by a contractor, builder, or owner, PayLocker ensures your payments are equally secured at every step or every week of the construction process. Our system safeguards your hard-earned funds, providing peace of mind and protecting you from delays or disputes in the build chain.
PayLocker secures client funds, ensuring they are used as intended. This greatly reduces the uncertainty of relying on the builder's financial stability and guarantees your payments.
PayLocker requires the builder to approve your payment before they can receive theirs, ensuring fairness and reducing the risk of payment delays or disputes.
Each project has its own account, providing transparency and proper fund management. You’ll receive all relevant details, including the project account number and cost breakdown.
Yes, PayLocker offers unprecedented security, ensuring payments are protected, even in cases of builder insolvency. It greatly reduces uncertainty, providing financial stability throughout the project and ensuring fairness and prompt payments.
The 48-hour time block is designed to provide a safeguard against fraudulent or unauthorized transactions. By introducing a delay between payment approval and transfer, PayLocker gives users extra time to verify the legitimacy of a transaction, preventing hasty decisions made under pressure or emotional manipulation.