Designated Deposit ll Account
An instant access deposit account with a competitive rate of interest, specifically designed for solicitors who manage client funds, with the option to operate the account via the internet.
KEY FEATURES
- For solicitors who manage client funds which need to be held separately
- Account can be operated via the internet if required
- nvest funds via electronic transfer, over the counter or by post
- Online withdrawal facility available
- Interest paid net, on an annual basis (or on closure of account)
OPENING AND MANAGING YOUR ACCOUNT
- The application form must be completed.
When you apply to open an account with us, you will need to provide identification of both name and permanent address for all of the signatories authorised to operate the account, and an electronic check of each signatory's identity will also be undertaken. This is required by law to verify the true identity of all new and existing customers. - Also, we require some form of correspondence on your firm’s official letterhead.
MAKING A DEPOSIT
- Our General Terms and Conditions for Savings Accounts contains important information which you should read before investing or withdrawing funds.
- Funds can be added to your account by visiting any of our branch or agency offices, by post or by electronic transfer from your bank account.
MAKING A WITHDRAWAL
- Withdrawals via electronic transfer can only be made to a nominated bank account.
- Withdrawal requests received by 2:00pm on each working day are processed the same day.
- Withdrawal requests made after 2:00pm are processed the following working day.
PAYMENT OF INTEREST
- Interest on this account is paid annually on March 31st or upon closure whichever is sooner.
- Tiered rates of interest apply.
- The interest rates are variable.
- For details of the current interest rates, please click here.
PAYING TAX ON YOUR INTEREST
- Interest will be paid or credited after deduction of income tax at the appropriate rate, or gross subject to the required certification.
It is important that you read the General Terms and Conditions for Savings Accounts, Designated Deposit ll Terms and Conditions and our 'My Accounts' Terms and Conditions before deciding to open an account.
>> Designated Deposit ll Terms and Conditions
>> General Terms and Conditions for Savings Accounts
