Client accounts

If your business is entrusted with third party deposits, you’ll be looking for banking support that’s secure, flexible and reliable – and that maximises efficiencies for your firm too.

That’s why we offer an approach to client banking that reduces the administrative burden by working alongside our clients to assist with their regulatory obligations and delivers simple, transparent and effective solutions.

Our support is designed to meet the needs of customers who need to manage large numbers of client accounts, including:

  • solicitors
  • property managers
  • stockbrokers
  • IFAs
  • pension administrators
  • life assurance companies
  • debt managers
  • trust administrators
  • accountants
  • friendly societies
  • investment managers
  • fund managers.

One of the major characteristics of all of the above professions is the unique relationship of trust you enjoy with your clients, especially when entrusted with third party funds. As someone providing a dedicated service to your clients, you’ll need banking support that’s just as dependable.

With over 200,000 accounts under management, our teams offer significant levels of experience and expertise. Working closely with our customers across the UK, we’ve worked hard to make sure our client banking services fully support the smooth running of firms like yours, with smart ways to handle large volumes of client accounts.

Bank of Scotland accounts to meet your needs

Corporate Client Account

This account is designed to meet the needs of professionals who manage client accounts, providing a streamlined and professional service to enhance your own client offering. Benefits include:

  • dedicated relationship managers
  • intelligent online technology
  • real-time cash management facilities
  • the flexibility to set up and manage as many client accounts as you wish
  • a full suite of reports for efficient account management
  • the ability to maximise interest earnings
  • 24-hour access to funds
  • multi-currency options.

Pension Fund Account

Our Pension Fund Account allows you to earn commission while your clients receive competitive interest rates. Amongst the many benefits of the account are:

  • immediate access to funds with no penalty
  • interest paid monthly
  • full range of payment options available, from Standing Orders and Direct Debits to CHAPS and Bacs
  • streamlined documentation for easy administration and management of your client’s pension fund bank account
  • free standard account transactions
  • free duplicate statements and cheque book
  • available to all professionals managing HMRC-approved pension schemes, including SSAS, SIPPS and Group Schemes
  • commission payable to regulated introducers and pension professionals.

Insolvency Account

Aimed specifically at insolvency practitioners and backed by a dedicated client banking relationship team with in depth experience of the sector, our Insolvency Account offers:

  • immediate access to funds with no penalty
  • interest paid monthly
  • full range of payment options available, from standing orders and Direct Debits to CHAPS and Bacs
  • streamlined documentation for easy administration and management of your client accounts
  • free standard account transactions
  • free duplicate statements.

Designated Client Account

This account enables you to hold your clients' individual funds in separate accounts. It's suitable for any professional practice or other businesses that hold clients' money, for example: solicitors, accountants, insurance brokers, estate and managing agents.

Features and benefits

  • Instant access to your account.
  • Receive regular statements.
  • No minimum or maximum withdrawal limit as long as you have cleared funds available.

Interest is calculated daily and paid monthly.

Deputyship/Appointeeship debit card

Debit cards are available to help support vulnerable individuals* under Deputyship or Appointeeship arrangements, giving them direct access to their funds.

Advantages of debit card

  • Choice of card type – chip & PIN, chip & signature or Cashpoint® only.
  • Always checks available funds on the account preventing unauthorised overdrafts
  • Linked to a Designated Client Account to ensure segregation of the underlying individual’s funds

* The following points apply:

  • The underlying individual will have no rights to directly access the bank account other than through ATM cash withdrawals, online purchases and merchant transactions.
  • Minimum age of underlying individual is 11 years. You (our Client) are responsible for the capacity assessment of the underlying individual.
  • A Deputyship or Appointeeship needs to be evidenced in the form of a either a court of protection order (Deputyship) or BF57 (Appointeeship).
  • The card is provided strictly only for use by the underlying individual. It is not permitted to be used by employees or other third parties (e.g. carers).

Client money channels

Visit our client money channels page to view online solutions for client accounts.

*Subject to terms and conditions and regulatory requirements being met.

All applications for our products and services are subject to eligibility criteria.

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