Opening a ClearBank® Segregation Notice Account®

Clear.Bank®

Product
Options

Notice Term Gross Annual Interest AER*
35 Day Term 0.75% 0.75%

* 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 in the FCA Handbook

Frequently Asked Questions

We offer three types of Notice Accounts:

  • ClearBank® Notice Account: This is a variable, managed rate deposit account for investing your company’s own operational funds.
  • ClearBank® Client Notice Account: This is a variable, managed rate deposit account for you to use to hold funds that are held on behalf of your investment clients. This account can be used for ‘Client Money’ as defined under the FCA’s Client Asset Sourcebook. This account is currently not available for ‘Client Money’ related to Insurance Distribution Activity.
  • ClearBank® Segregation Notice Account: This is a variable, managed rate deposit account for you to use to hold funds that are held on behalf of your customers. This account is not appropriate for ‘Client Money’ as defined under the FCA’s Client Asset Sourcebook.

The eligibility criteria for opening a 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 Notice Account(s) 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 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 Notice Account as your principal deposit amount and accrued interest will be returned to your nominated account.
  • The ClearBank® 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 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.

No. These accounts are available for both existing as well as new customers.

Click here for further Notice Account FAQs

Apply for a ClearBank® Segregation Notice Account

Please complete the below details in order to apply for a new Segregation Notice Account with ClearBank®

Please select all tick boxes in order to continue with your application.

We currently only offer FCA and/ or PRA Authorised and/ or Regulated entities notice accounts with ClearBank®

* Indicates a mandatory field

Ultimate Beneficial Owners and Ownership Make-Up

Individual Owned

Entity Owned

Please provide information in relation to your new Notice Account.

0.00%

If approved, you will have 5 business days (from receipt of your welcome email) to fund your ClearBank® Notice Account

I can confirm that the above information is correct and by clicking this button I am submitting my application to ClearBank.