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The importance of referencing your payments

January 12th, 2018

Over 30% of all BACS payments received by Pier Management Ltd from leaseholders are sent to us with an incorrect reference or no reference at all. Given that our banking team process over 60,000 transactions a year, allocating the mystery payments can be a time consuming role.

Despite their best efforts, the team are often unable to allocate payments received with no references and thus these are returned to the sender. In doing so the leaseholder runs the risk of missing the payment date on their account and potentially incurring further costs. It is very important therefore, to quote the tenant reference on all payments and correspondence; your reference can be found at the top of each invoice and is also quoted on any letters we send you.

A better way to pay is to sign up to our Tenant Portal. This is a quick and easy way to make payments via our website. Our online facility allows you to view your statements and invoices instantly along with the funds being reflected on your account the same day. The registration process is simple, just follow the ‘How to’ document on the login page.   

If you do have any queries regarding your account or payment methods, please do not hesitate to contact us. 

Rachel Smith

Credit Control Team Leader 


Pier Management
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