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Essential works - Kirkby in Ashfield (from 28 June)

Client Deposit Account (1st issue)

Local and Loyal only

Interest Rate

2.53% / 2.50%
This account might be right for you if...
  • You are a SRA regulated solicitor that manages client funds
  • You need easy access to funds
  • You want interest paid monthly
  • You can maintain a minimum balance of between £100,000 and £4,000,000
Some things you need to bear in mind
  • This is a variable rate account and the rate may go up or down
  • No cash or third party withdrawals
  • Only available to regulated solicitors holding clients’ money as an undesignated account

Interest Rate

2.53% / 2.50%

Summary Box

Documentation and Mandates

We require the following documentation and mandates:


Bank statement for our Business account (all deposits must be made from this account and I/we acknowledge that withdrawals can only be sent to this account)
Company Registration Number or Memorandum and Articles of Association
A resolution of the Board of Directors to open the account on company headed paper confirming authority to those who
will operate it and the address to which the correspondence should be directed.


Bank statement for Business account (all deposits and withdrawals must be made from or to this account)
Signed mandate with authority to open and operate the account on headed paper.
Proof of ID and Address is also required for all individual(s) named as Appointed Officers, Mandate Holders and/or Beneficial Owners.

Evidence of identification and proof of residency is also required for the individual(s) operating the account.

An additional Due Diligence Questionnaire will need to be completed before the account is opened. Your Savings Business Development Manager will complete the Due Diligence Questionnaire with you as part of the account opening.

We may also request information about the company or LLP and its owners, directors or members.

Is there anything more I should know?

Our General Account Terms and Conditions, which is available to download from our website, provides full details of the terms and conditions applied to this and other accounts offered by us.

Where there is a conflict between information displayed on the product and the General Account Terms and Conditions, the terms of the product will apply.

The General Account Terms and Conditions are provided to all new account holders and are also available on request.

How do I apply?

To enquire about a business savings account, please visit our contact page and select the Business & Charity Savings Accounts enquiry form or email us at

A colleague will then respond to any queries that you may have and support you through the application and account set up process, including the Document and Mandate requirements (see above).

In common with other financial organisations we will need evidence of identification and proof of residency. Please see the You and Your Savings Account leaflet for details.


Can I cancel if I change my mind?

If you change your mind about your choice of account, you may cancel it without penalty within 14 days of the day the account is opened, or the day on which you receive the account terms and conditions and other information on paper or electronically, whichever is later. We will help you switch to another of our accounts or we will give you all your money back with any interest it has earned. We will ignore any notice period and any penalties relating to withdrawals or closure of the account.

Charitable Assignment

All new customers opening a savings account will be required to sign a declaration agreeing to assign any windfall conversion benefits to the Charities Aid Foundation. This assignment will apply for the first 5 years of membership. Existing members with continuous membership prior to the effective date are not affected. Our Charitable Assignment Scheme leaflet provides full details.


1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to each year. AERs on the Monthly Income accounts assume interest is added to the account each month although in practice the option to have interest added in this way is not available.

2. The gross rate is the contractual rate of interest payable without tax taken off.
If separate AER/Gross rates are not quoted, both rates are identical.

^Tax free means you won’t pay UK tax on any income or capital gains your ISA makes.

Our savings accounts are exclusively available to UK Residents only.

These account details apply to personal investors only unless stated in the detailed information.

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