Professional Firms Client Account

Credit interest and instant access on deposit funds

Straightforward money management is key to our business banking accounts and essential to your business. Yorkshire Bank’s Professional Firms Clients Account is available to solicitors, accountants, insolvency practitioners and other businesses that hold funds belonging to their clients. This interest bearing current account is also available for funds subject to an escrow agreement. Please note that escrow monies are subject to the account terms and conditions and also to the terms of the escrow agreement between the escrow parties.

What the account gives you:

• Credit interest linked to the Bank of England base rate
• Personal attention from your relationship manager
• Also available to individual chartered accountants in their capacity as liquidators or trustees in bankruptcy
• Instant access to funds without penalties (unless the escrow agreement provides otherwise)
• Unlimited deposits and withdrawals subject to available funds
• Choice of statements issued monthly, or more frequently on request. Interest rates and charges can be found in the Business Banking Tariff.Also see below Important Information “What it costs” and speak to your relationship manager for more details.
• Chequebook option (not available on escrow accounts)
• Credit Interest will be paid gross

Important information

• Credit/debit Interest
  • Calculated daily and applied quarterly at the end of March, June, September and December
• Credit balance
  • Maximum – unlimited
  • Minimum - £500 deposit required to open account.  No minimum balance thereafter
• Standing orders and Direct Debits
  • Not permitted on this type of account unless in exceptional circumstances, for example, Liquidators Account
• What it costs
  • Designated clients funds – exempt from charges
  • General clients monies – transactional charges apply
• Terms and conditions
  • Full terms and conditions are available on request

For information on our business savings accounts