There are generally two approaches we have seen adopted by advisers, namely the adviser either:
1. obtains authorisation from the customer to input the customer’s payment details in View’s payment portal; or
2. inputs their own card details and then later charges the customer.
We confirm upon submitting an order through View’s website, we obtain a hold on the card to capture payment for the authorised amount. This hold expires after 30 days.
As set out in our cost agreement, we only charge the credit card details provided upon sending the draft documents, or when initial strategic meeting is held.
In relation to receiving payment prior to completing work, the rules here are generally regulated on a profession by profession basis either by the relevant professional body, licensee or legislation. While lawyers performing legal work (as one example) must receive payments in advance of work into a trust account, in relation to the platform here this is not required as View has completed the substantive work before the credit card is charged.