A client accounting platform says customer agents will now receive interest on funds held within its banking partner.

Funds held in Lettspay’s banking partner Griffin will accumulate interest, calculated daily and paid on the first of every month.

Lettspay has not released details of the interest rate but claims “an agent could recover up to half of their platform costs as a result.”

Chief executive Garrett Foxon says: “Our unique market leading solutions, particularly in addressing the issues of undesignated client accounts and client money protection that are being faced by the residential lettings industry, has now become even more attractive with funds attracting interest on a monthly basis.”