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Professional Account
ClientLine
Leeds Building Society offers a wide range of financial products and services and this includes our professional account, ClientLine, specifically created for the following professional businesses; Solicitors, Independent Financial Advisors and Accountants.
ClientLine offers the following benefits:
- Simple to use - manage Client Accounts when you need to
- No limits - set up as many Client Accounts as you need
- Invest up to £2 million - available for each Client Account
- Competitive interest rates - higher rates for higher balances
- Access - withdraw your Client's funds when you need to
- Monthly statements - for each Client Account and a summary statement
- Free bank transfers (C.H.A.P.S.) - between your clients account and your Organisation’s Designated Bank Account
ClientLine is simple and easy to operate which means you can save time, effort and energy looking after your Clients’ finances and get on with looking after your Clients!
The professional relationship
ClientLine is simple and easy to operate making it an ideal solution when you are managing large volumes of client accounts. When you are looking after someone else’s money you need to be straightforward, professional, and above all, transparent. The ClientLine Account pays a very competitive rate of interest, it’s easy to manage and provides access to funds. That’s why Solicitors, Independent Financial Advisors and Accountants choose ClientLine.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | ClientLine |
| Interest rates (AERs) | See the "How much interest will I earn?" table below. |
| Tax Status | Interest will be paid net of the standard rate of income tax (which can be reclaimed by non-taxpayers directly from the Client's tax office). |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Withdrawals can be made by cheque or bank transfer at any time without notice or loss of interest. Funds can be paid over to you by a cheque payable to your Organisation Re: Client name/Account Number for example; “Organisation Re: Mr Smith”. Bank transfers are available with no charge and must go directly to your Organisation’s Designated Bank Account. You can arrange a cheque withdrawal or bank transfer by writing or calling into your local branch. |
| Access | Account can be opened and operated through any of our branches or by post. |
How much interest will I earn?
| Investment | Annual Interest % Gross§ p.a./AER† (Variable) |
|---|---|
| £500,000+ | 1.70 |
| £250,000+ | 1.40 |
| £100,000+ | 1.15 |
| £50,000+ | 1.00 |
| £10,000+ | 0.35 |
| £5,000+ | 0.20 |
| £100+ | 0.10 |
Interest rates effective from 1 August 2009
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £100 per Client Account and the maximum investment and operating balance is £2,000,000per Client Account.
When is interest paid?
Interest is paid Annually on 30 September.
How is interest paid?
Interest can be credited to each individual Client Account or credited to your Organisation's Designated Bank Account. The rate of interest is determined by the amount in the individual Client Account. If the balance in the individual Client Account moves to another interest rate band, this rate will apply to the whole balance of the individual Client Account.
Interest is calculated daily. Any funds paid in by cheque will start to earn interest from the second (bank) working day after the cheque is received in branch or at the Society's Head Office.
Deposits
Funds can be added to each individual account at any time by bank transfer from your Organisation's Designated Bank Account or by using a cheque drawn on your Organisation's Designated Bank Account.
For details of how to open an account, ClientLine Terms and Conditions and to print off an application form, open the PDF document below.
