In addition to our standard range of deposit accounts, we can also offer two accounts specifically designed to hold clients' monies.

The Composite Account is designed to meet the requirements of businesses that are authorised to hold funds on behalf of clients, allowing you to administer third party funds without the need to operate multiple bank accounts.

Deposits may be held in sterling or any other major currency and there are no upper or lower limits.

The interest rate available to you is linked to Coutts Base Rate and based on the total funds you deposit with us.

No notice is required for withdrawal of funds.

The account is designed to work in conjunction with your own accounting system. We will normally use your own client account numbers to avoid unnecessary paperwork and time- consuming cross-referencing.

Comprehensive reports and narrative client statements are provided as often as you require. Tax certificates are available on all designated accounts, to assist your clients with their personal tax affairs.

You have the option to hold clients’ monies in either a general clients’ deposit account or a designated clients’ deposit account,

The main features of each are as follows:

This is a general clients’ deposit account within the meaning of Income and Corporation Taxes legislation.

• There is no separate designation of client monies and all interest is paid gross to you via your Office Account.
• You have the choice of taking a percentage share in the rate available on this account type.
• For administration purposes we can provide you with:
• details of the individual client monies that make up a general client account
• client transaction ledgers
• details of payments made by you to clients in lieu of interest

This account comprises of separate sub-deposits identified by reference to your clients.

• Interest is applied directly to each client’s sub-deposit on a net or gross basis, depending on the taxation status of the individual client. Supporting evidence will be required for clients to be able to receive interest gross
• We will provide you with:
• details of your client balances
• details of interest applied to each client account
• individual client account statements
• client account tax certificates

Clients' Reserve Account is an interest bearing current account. Cheque books maybe issued on this account and standing orders and direct debits may also be established.

If you are an existing client of Coutts & Co who is authorised to hold clients’ monies and wish to apply for a Composite or Clients' Reserve Account, please speak to your commercial banker. If you wish to become a client, or require further information regarding this product, please contact us on +44 (0)20 7753 1135.