Quanticks   Solicitors in Reigate and Dorking      
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client money

Unless otherwise agreed with you, Quanticks will hold all client money in a general client account. It is an instant access account, and the interest rates applicable to it are reflected in this fact.

Interest will be paid on money held at 0.5% less than the rate of interest paid by our bank (currently Lloyds Bank). This will be subject to a de minimis of £20 (ie; no interest will be payable if the amount of interest due against any balance held is £20 or less). The current rate of interest payable can be found on our website in the legal & regulatory information tab. Interest will be paid ‘gross’ (ie before any deductions for tax).

Interest will be calculated on the basis of the amount & the length of time for which cleared funds were held. It will normally be paid at the conclusion of any work we’re doing for you.

If there is a need for us to hold client funds for a guaranteed fixed period of more than 1 month, it may be possible to put funds into a designated deposit account. This may attract a higher rate of interest. But, without instant access to the funds, this is rarely a practical option. Please talk to us if you feel this may be appropriate given your circumstances, for any money we are holding on your behalf.

Any variation from this policy will be agreed in writing with you on an individual basis


rates of interest

Interest Bands Band 1 Band 2 Band 3 Band 4 Band 5 Band 6 Band 7 Band 8
                 
  £1.00 £50,000.00 £100,000.00 £250,000.00 £1,000,000.00 £1,000,000.00 £1,000,000.00 £1,000,000.00
  _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________
Current Rate Date Rate 1 Rate 2 Rate 3 Rate 4 Rate 5 Rate 6 Rate 7 Rate 8
                 
01/01/2005 1.75% 1.80% 2.00% 2.20% 2.45% 2.45% 2.45% 2.45%
08/08/2005 1.50% 1.55% 1.75% 1.95% 2.20% 2.20% 2.20% 2.20%
07/08/2006 1.75% 1.80% 2.00% 2.20% 2.45% 2.45% 2.45% 2.45%
13/11/2006 2.00% 2.05% 2.25% 2.45% 2.70% 2.70% 2.70% 2.70%
15/01/2007 2.25% 2.30% 2.50% 2.70% 2.95% 2.95% 2.95% 2.95%
12/02/2007 2.25% 2.30% 2.50% 2.65% 2.85% 2.85% 2.85% 2.85%
01/06/2007 2.50% 2.55% 2.75% 2.90% 3.10% 3.10% 3.10% 3.10%
07/08/2007 2.75% 2.80% 2.94% 3.05% 3.25% 3.25% 3.25% 3.25%
02/01/2008 2.50% 2.55% 2.69% 2.80% 3.00% 3.00% 3.00% 3.00%
11/02/2008 2.25% 2.30% 2.44% 2.55% 2.75% 2.75% 2.75% 2.75%
14/04/2008 2.00% 2.05% 2.19% 2.30% 2.50% 2.50% 2.50% 2.50%
12/05/2008 2.05% 2.25% 2.35% 2.80% 3.00% 3.00% 3.00% 3.00%
27/10/2008 1.55% 1.75% 1.85% 2.20% 2.50% 2.50% 2.50% 2.50%
11/11/2008 0.05% 0.25% 0.35% 0.70% 1.00% 1.00% 1.00% 1.00%
08/12/2008 0.00% 0.00% 0.00% 0.20% 0.50% 0.50% 0.50% 0.50%
12/01/2009 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%