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Professional Firms Client Account

For businesses that hold funds belonging to their clients

Many professional firms need the option to hold and manage clients' funds. To help businesses handle this money separately from their own affairs, Clydesdale Bank's Professional Firms Client Account allows instant access to funds and pays credit interest linked to the Bank of England base rate. For solicitors, accountants, insolvency practitioners and other businesses that hold funds belonging to their clients, this is the kind of account which can help manage the monies effectively. This 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.

Features of the account
  • Instant access to funds without penalties (unless the escrow agreement provides otherwise)
  • Statements issued monthly, or more frequently on request. Interest rates and charges can be found in the Business Banking Tariff . Also see below section “Charges” and speak to your relationship manager for more details.
  • Unlimited deposits and withdrawals subject to available funds
  • Chequebook option (not available on escrow accounts)
Credit/debit interest
  • Calculated daily and applied quarterly at the end of March, June, September and December
  • Credit Interest will be paid gross.
Standing orders and Direct Debits
  • Not permitted on this type of account unless in exceptional circumstances, for example, Liquidators Account
Credit balance
  • Minimum - £500 minimum deposit required to open account.  No minimum balance thereafter
  • Maximum – unlimited
Charges
  • Designated clients funds – exempt from charges
  • General clients monies – transactional charges apply
Terms and conditions
  • Full terms and conditions are available on request

Find out about our Business Choice Charities Account

For information on our business savings accounts

Find out more

  • If you are already a business banking customer, get in touch with your relationship manager for more details.
Business Account Checklist - What you’ll need to open an account

Participating providers of UK business bank accounts have agreed to a basic set of information that they will need from you to set up your UK business current account. Find out what you’ll need to provide using the simple Business Account Checklist from UK Finance, the UK’s leading trade association for financial services.

View guide

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You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.