Interest Policy

Where monies are held on a client’s behalf, these are known as client monies. Client monies will normally be deposited in a general client account and held in an instant access bank account denominated in Sterling to facilitate transactions. This bank account will have money held for a number of clients.

Interest will be calculated at a rate equivalent to that available to Winn Solicitors in an instant access bank account at the time the client monies are held and paid only if the amount of money Winn Solicitors hold on account is more than or equivalent to £50,000.00 and is held for longer than a period of three months.

We will not account to the client any interest, calculated in accordance with the policy, which is less than £150.00 biannually due to the disproportionate administrative processing costs of smaller amounts.

If monies held are above £100,000 and for longer than a six-month period, and subject to bank acceptance, the customer will be entitled to instruct Winn Solicitors to hold their monies in a separate deposit account and interest will be calculated monthly based on the rate of interest payable by the bank on the relevant amount and paid net of any applicable withholding tax.