Our general client deposit account has been specifically designed with solicitors in mind. Our client money accounts for solicitors provide a safe and accessible place for your clients’ money, with 24/7 online visibility and with the added bonus of monthly interest payments.
We understand that managing client funds can be both time-consuming and stressful. Which is why we have designated relationship managers who are happy to support you. They are on hand to help with any issues that arise.
Our solicitor client accounts not only offer the convenience of 24/7 online visibility, but also provides the reassurance of a dedicated account manager, available to assist with any issues that can’t be resolved online.
With monthly interest payments and no service fees, it’s the solicitor client account that retains the personal touch, to offer a product that suits the solicitors’ firms it was designed for.
Client deposit accounts are specialist accounts that allow solicitors and legal practices to hold client money securely and apart from business funds. They meet compliance rules, reassure clients that their money is safe, and can also generate interest on the balances held.
In the United Kingdom, solicitors are required by the Solicitors Regulation Authority (SRA) to keep client funds separate from business money. Client money accounts provide a secure and compliant way to protect client funds alongside the added benefit of earning interest.
Our solicitor client accounts keep client funds separate from your firm’s own money. Each account is set up to meet regulatory requirements, such as those from the Solicitors Regulation Authority (SRA), giving clients confidence that funds are ring-fenced and secure.
Opening client deposit accounts with a building society like Monmouthshire can provide competitive interest rates, security under the Financial Services Compensation Scheme (FSCS) (up to the applicable limits), and the reassurance of an approach that prioritises customers rather than shareholders.
They are available to regulated solicitors, law firms, and other professionals such as conveyancers or accountants who must safeguard third-party funds. Whether you run a sole practice or a larger firm, our solicitor client accounts provide a compliant and secure solution.
Yes. Client deposit accounts can earn interest but how much is dependent upon the balance and account type. Interest can be attributed to clients individually, ensuring compliance with regulations while helping client funds grow.
Applying for a client money account is straightforward. You will need to complete an online application form and provide proof of your practice’s regulatory status .You can also visit a branch and we will guide you through the process.
