* AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once
Access and Deposits
This account is exclusively available to UK domiciled FCA and / or PRA authorised or regulated firms to deposit funds that you hold on behalf of your clients. It is also available to financially regulated entities who are indirectly authorised by the PRA and / or FCA as a result of having a presence in the UK (subject to your own regulatory permissions) *
This account can be funded from your existing account with ClearBank® or any UK nominated bank. At maturity, all funds will be returned to the same account
The interest rate will be agreed at the time of account opening and can vary during the term of the account
Opening more than one account is permitted however top-ups and partial withdrawal are not allowed
Total withdrawals are permitted, and the funds will be repaid only after the notice period has been served
Available currency: GBP only
Minimum amount is £50,000 per account
Under the Financial Services Compensation Scheme (FSCS) Eligibility criteria, Deposits by Financial Institutions are not eligible for FSCS protection. For further information visit www.fscs.org.uk the Financial Services Compensation Scheme website
* The account is not for the placing of client assets by asset management companies or investment firms that are subject to client money rules under CASS 5 or CASS 7 in the FCA Handbook
A ClearBank® Client Notice Account is a variable, managed rate deposit account for you to use to hold funds that are
held on behalf of your clients. This account is currently not available to client money held for investment purposes by
asset management and/or investment firms subject to client money rules under CASS 5 and/or CASS 7 as per the FCA
The eligibility criteria for opening a ClearBank® Notice and/or Client Notice Account includes the following:
Your business must be an FCA or PRA regulated entity or you should have the permissions of the UK competent domestic authorities to open a ClearBank® Notice / Client Notice Account with us.
Your business must also not have less than 10 employees or an annual turnover of less than €2 million.
This account is not open to customers who fall outside of the eligibility criteria in (1) and (2) above.
Your ClearBank® account or another UK bank account that you use is required to fund your ClearBank® Notice and/or Client Notice Account. This account is defined as your nominated account. You will be required to share the sort code and account number for your nominated account with us.
Your nominated account should be active at the time of maturity of your ClearBank® Notice and/or Client Notice Account as your principal deposit amount and accrued interest will be returned to your nominated account.
The Client Notice Account is currently not available to client money held for investment purposes by asset management and/or investment firms subject to client money rules under CASS 5 and/or CASS 7 as per the FCA Handbook.
Please note that business and individual identities and addresses will be checked as per KYC/AML rules. This is as an
essential requirement for opening any bank account in the UK. To make this process as easy as possible for our
customers, we make these checks by using several electronic databases. In some cases, we may ask you for
additional documentation to support this process.