20/10/2026
An agency that directs a buyerβs deposit to a third party needs to know more than where the money will be held. It needs to know whether the arrangement meets its trust account obligations, how the buyer is protected, what happens to its anti-money laundering responsibilities, and whether any benefit.
βDeposit flickingβ is the conveyancing industryβs name for a practice that has spread quickly this year. An agency directs a purchaserβs deposit to a third party to hold until settlement, instead of placing it in the agencyβs statutory trust account.