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Renopay

Is Renopay safe?

The money for each stage is held securely until the homeowner approves the work. Here is who holds it, what protects it, and how to check each claim yourself.

Where the money is at every point

  1. With homeowner

    Homeowner’s bank

    Until a stage is paid for.

  2. Held

    Held by OPP

    In a safeguarded account. That means OPP must keep it apart from its own money. The builder can see it is there.

  3. Released

    Builder’s bank

    Released when the homeowner approves the stage. It can take up to a day to reach the builder’s bank.

Renopay never holds client money. If Renopay stopped trading, the money would still be with OPP. It is not covered by the FSCS, the scheme that protects bank savings. Safeguarding is what protects it.

When a stage is released

When the builder asks for approval, the homeowner has 14 days to approve the stage or raise an issue. Renopay sends a reminder before the 14 days are up. If the homeowner does neither, the stage is released. On projects of £25,000 or more, the 14 days are working days. If the homeowner has not logged in during that time, they get 7 more days and a final notice. Raising an issue stops the clock. The two sides then have 10 working days to agree. If they cannot, either can ask for an independent surveyor.

If you disagree

  1. Raise it

    Either side can, in the app, with photos and notes. Only that stage is paused.

  2. Agree a way forward

    A fix or a sign-off, agreed in the app. Renopay stays neutral: the money follows what you agree.

  3. Or a surveyor decides

    Either side can ask an independent RICS-qualified surveyor, a building expert, to decide what happens to that money.

What the surveyor costs

Each side pays half the surveyor’s fee when the dispute goes to them.

The surveyor decides who bears it, usually the side whose case is not upheld. If neither side pays within 14 days, the deadlock procedure applies, with a £50 + VAT administration fee.

What the decision is called
The terms call the surveyor’s decision expert determination. It is not arbitration.

How to complain

About Renopay
Email complaints@renopay.co.uk or use the complaints form in the app. We acknowledge it within 5 working days and aim to give a final answer within 15.
About the payment service
Complaints about how money is held or moved go to OPP, under the complaints procedure in OPP’s terms (PDF).
If OPP’s answer does not settle it
You may be able to take a complaint about OPP to the Financial Ombudsman Service. The Ombudsman covers OPP’s payment service, not Renopay itself.

Questions

What if the builder walks off?
Raise a dispute in the app. The money for that stage stays held, and is released, refunded or split when you and the builder agree or a surveyor decides. A surveyor can order a full refund. Stages you have not paid for yet never leave your bank.
What if Renopay goes bust?
Your money stays with OPP. It is held in a safeguarded account, apart from OPP’s own money, and is not part of Renopay’s finances.
Does Renopay check the builder?
Every builder passes OPP’s identity and anti-money-laundering checks before any money is released to them. Their workmanship, qualifications and insurance are yours to check before you hire them.
Does Renopay check the work?
You do. You check each stage before you approve it, and the money is released when you do. If you and the builder disagree, an independent surveyor can decide. Each side pays half the surveyor’s fee up front.
Is it insurance?
No. Each stage’s money is held until the work is approved, and a dispute decides what happens to that money. If putting the work right costs more, that is between you and your builder.
What happens if I forget to approve?
If you neither approve the stage nor raise an issue within 14 days of the builder asking, it is released automatically. Renopay sends you a reminder first. On projects of £25,000 or more, the 14 days are working days. If you have not logged in during that time, you get 7 more days and a final notice.

Builders: sign up free

About ten minutes, one ID check, then your first project.

Sign up free

Homeowners: send your builder a link

They see the money is there before they start. It is released when you approve and can take up to a day to reach their bank.

Send your builder a link