Client Account

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Home Business Client Account

What are client accounts?

Certain professions (such as solicitors and accountants) may need to have a bank account put aside for client monies. This needs to be separate from the business’ bank account and will be used exclusively as a holding place for clients’ funds.

My business is a

and the expected annual turnover is

Sorted by: AER Show me products first that have quick links to the provider's site

AER

2.42%

Notice / Term

36 Month Bond

Deposit

£1,000

Expected Profit Paid

Quarterly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 2.40% paid at £1K

AER 2.42% paid at £1K

Interest Payment Interest can be paid away or compounded

Min Opening Amount £1,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

This bank operates under Islamic finance principles, the rates displayed represent the expected profit rate.

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.

This bank/building society shares its compensation limit with no other bank or building society.

AER

2.32%

Notice / Term

24 Month Bond

Deposit

£1,000

Expected Profit Paid

Quarterly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 2.30% paid at £1K

AER 2.32% paid at £1K

Interest Payment Interest can be paid away or compounded

Min Opening Amount £1,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

This bank operates under Islamic finance principles, the rates displayed represent the expected profit rate.

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

2.22%

Notice / Term

18 Month Bond

Deposit

£1,000

Expected Profit Paid

Quarterly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 2.20% paid at £1K

AER 2.22% paid at £1K

Interest Payment Interest can be paid away or compounded

Min Opening Amount £1,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

This bank operates under Islamic finance principles, the rates displayed represent the expected profit rate.

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

2.07%

Notice / Term

12 Month Bond

Deposit

£1,000

Expected Profit Paid

Quarterly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 2.05% paid at £1K

AER 2.07% paid at £1K

Interest Payment Interest can be paid away or compounded

Min Opening Amount £1,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

This bank operates under Islamic finance principles, the rates displayed represent the expected profit rate.

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

2.00%

Notice / Term

2 Year Bond

Deposit

£5,000

Interest Paid

Anniversary

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 2.00% paid at £5K

AER 2.00% paid at £5K

Interest Payment Interest must be paid away

Min Opening Amount £5,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

N/A

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

2.00%

Notice / Term

2 Year Bond

Deposit

£5,000

Interest Paid

Monthly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 1.98% paid at £5K

AER 2.00% paid at £5K

Interest Payment Interest must be paid away

Min Opening Amount £5,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

N/A

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

1.75%

Notice / Term

1 Year Bond

Deposit

£5,000

Interest Paid

Anniversary

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 1.75% paid at £5K

AER 1.75% paid at £5K

Interest Payment Interest must be paid away

Min Opening Amount £5,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

N/A

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

1.75%

Notice / Term

1 Year Bond

Deposit

£5,000

Interest Paid

Monthly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 1.74% paid at £5K

AER 1.75% paid at £5K

Interest Payment Interest must be paid away

Min Opening Amount £5,000

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

N/A

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

1.55%

Notice / Term

1 Year Bond

Deposit

£1,000

Interest Paid

Yearly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 1.55% paid at £1K

AER 1.55% paid at £1K

Interest Payment Interest can be paid away or compounded

Min Opening Amount £1,000

Maximum Investment £2,500,000

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

N/A

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

AER

1.51%

Notice / Term

90 Day

Deposit

£250

Expected Profit Paid

Monthly

Rates

Access

Application Criteria

Information

Additional Information

Rates

Rate 1.50% paid at £250

AER 1.51% paid at £250

Interest Payment Interest can be paid away or compounded

Min Opening Amount £250

Maximum Investment N/A

Introductory Bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note N/A

Further Additions Allowed

Application Criteria

Minimum Turnover N/A

Maximum Turnover N/A

Available To

Limited Company

Limited Liability Partnership

Not for profit organization

Partnership

Public Limited Company

Sole Trader

Information

Min Age N/A

Max Age N/A

Taxation -

Additional Information

This bank operates under Islamic finance principles, the rates displayed represent the expected profit rate.

How safe is your money?

This bank/building society shares its compensation limit with no other bank or building society.

Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

Disclaimer

All rates subject to change without notice. Please check all rates and terms before investing or borrowing.

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Keep your clients’ money separate to your business’ deposits in a segregated client account.
Some accounts are restricted to certain types of business (such as a solicitor’s practice).
Client money is protected by the UK’s depositor protection scheme.

Client accounts explained

Client accounts can be a short-term or a long-term issue, such as with funds that are being held temporarily for a matter of days through to more permanent arrangements designed to last for years.

In terms of the type of client account used, they are broadly broken down into two groups: the first is in the form of a collective pool of clients’ cash. In this example – which is often the most common – this would involve many customers sharing a single bank account, with all the funds due to those customers kept in that single client account. In such circumstances it is often the case that the customer will earn no interest on the money deposited with any profit going to the holding business. Commonly this is not a problem as the client monies are relatively small on an individual basis and reside in the account for only a short period of time.

The other form of client account relates to deposits of a more sizeable nature, such as where the money is being held in trust under the terms of an inheritance until the beneficiary comes of age. In this instance it is normal practice for the solicitor or accountant to open a client account exclusively for that person. No other clients will share the account and any interest made is typically left for the client for whom the account has been opened. However, some professions may charge a ‘handling fee’ to cover their own costs, such as only paying the client interest if the sum deposited is larger than £10,000.

The rules under which a professional business holds such funds should be clearly stated in advance so that you are fully aware of how client funds will be treated. There is also significant regulation over how client accounts must be managed by the company.

Regardless of whether the client account is a collective pool of several customers or a single, dedicated account, the monies are still protected by the UK depositor protection scheme, so that funds up to £85,000, or higher in certain circumstances, are safe in the very unlikely event of a bank going bust.

Moneyfacts tip

Moneyfacts tip nigel woollsey

Client accounts come in a range of types, so take some time to consider what might be suitable for your business’s circumstances and those of individual customers. For example, if funds will be retained for years with no activity it might be wise to choose a higher-paying bond than an account which has easy access that won’t be required.

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Client Account

We found 103 products

What are client accounts?

Rates

Access

Application Criteria

Available To

Information

Additional Information

How safe is your money?

Rates

Access

Application Criteria

Available To

Information

Additional Information

How safe is your money?

Rates

Access

Application Criteria

Available To

Information

Additional Information

How safe is your money?

Rates

Access

Application Criteria

Available To

Information

Additional Information

How safe is your money?

Rates

Access

Application Criteria

Available To

Information

Additional Information

How safe is your money?

Rates

Access

Application Criteria

Available To

Information

Additional Information

How safe is your money?

Rates

Access

Application Criteria

Available To

Information

Additional Information

How safe is your money?

Rates

Access

Application Criteria

Available To