SOLICITORS

If you hold cash on behalf of clients, you could earn a competitive rate of interest with our Solicitors' Client Deposit account.

Account name	Solicitors' Client Deposit
Interest rates (AERs)	Monthly interest Gross Net AER £10,000+ 2.00% 1.60% 2.02% The interest rate is variable and will be credited monthly to the account or paid to your nominated bank account. If the balance falls below £10,000 we will reduce the rate of interest payable to the rate of interest paid on our Instant Access account.
Tax status	Interest is paid net of basic rate tax.
Withdrawal arrangements	Withdrawals may be made without notice by providing an appropriately signed request by fax or scanned email attachment. All withdrawals will be via the CHAPS system to your nominated bank account.
Access	Post / Fax / Email
Minimum/ Maximum limits	Minimum: £10,000 Maximum: £2,000,000
Other conditions	None.

Operating the account

Pay money In

• By Faster Payment System or CHAPS transfer from your bank account. To do this you will need to quote the sort code: 08-90-24, account number 70236215 and your Vernon account number as the reference.

Withdraw money

• All withdrawals will be via the CHAPS system and will be made directly to your nominated bank account on the day of receipt providing the instruction is received by 2pm.

Simply read our Terms & Conditions, download and complete the application form and return it along with your intial deposit and proof of identity documentation for each named signatory on the account to: 

Vernon Direct, Vernon Building Society, 19 St. Petersgate, Stockport SK1 1HF. 

In addition we will also check that your Solicitor's practice is registered on The Law Society website (www.lawsociety.org.uk) or on the Council for Licensed Conveyancers website (www.conveyancer.org.uk).

Click here for details of our identification requirements.