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Conveyancing & Source of Funds

When buying a property, your conveyancer needs to verify where your deposit came from. openstan converts bank statement PDFs into structured spreadsheets, making source of funds checks systematic rather than manual.

Get Started Quick Start Guide

The Compliance Requirement

Conveyancers must verify the source of funds for property purchases as part of anti-money laundering (AML) regulations. This typically requires reviewing several months of bank statements to confirm:

  • Where the deposit accumulated
  • That savings built up gradually (no unexplained jumps)
  • Any large deposits have identifiable sources
  • Statement periods are continuous with no gaps

How openstan Helps

Import Multiple Months

Import 3–6 months of bank statement PDFs in one batch. openstan processes them into a single searchable dataset.

Sort by Amount

Export to Excel and sort by amount to instantly find large deposits that need verification.

Check Statement Continuity

openstan automatically detects gaps in statement coverage — so you can confirm no months are missing from the record.

Verify Balances

The star-schema export includes running balances, letting you confirm that savings accumulated as expected without unexplained jumps.

What to Look For

Once your statements are in Excel:

  • Gift deposits — filter for large inbound transfers and match against gift letters
  • Savings accumulation — review balance over time, spot any unexplained jumps
  • Cash deposits — identify cash entries that need explanation
  • Statement continuity — check that periods are consecutive
  • Balance verification — recalculate running balances from transactions

How It Works

  1. Install openstan on your computer
  2. Create a project — Quick Start guide
  3. Import statement PDFs from the buyer's bank account(s)
  4. Export to Excel — sort, filter, and verify
  5. Report findings to your compliance team

What You'll Need

  • Bank statement PDFs covering the relevant period (typically 3–6 months)
  • openstan installed on your computer

More Use Cases

Probate — estate bank statement analysis. Multi-Account Tracking — personal finance. All use cases.