Client Account Interest Policy
We hold our client account funds in accordance with the Solicitor Account Rules with Banks regulated by the Financial Conduct Authority.
It is the firm’s policy to accord to its clients for a gross sum payment in lieu of interest on a fair and reasonable basis.
- If the amount calculated is less than £40 then no interest will be paid as our administrative costs would exceed this amount.
- Client account monies will normally be held in a general interest access bank account to facilitate transactions and a sum in lieu of interest will be based on the rate of interest payable by the bank as if the monies were to be held separately in an instant access designated account.
- If we receive a charge from our Bank for holding or handling your money, we reserve the right to pass this charge on to you.
- If client monies are held in a separate designated deposit account, (i.e. a specific account for a separate matter) all interest on that account will be credited to that bank account and paid in full.