What is a client account?

People also ask what a client bank account is.

definition. An client segregated banking account is an account that is solely used to hold client funds. Client accounts are not accessible by third parties, and they are distinct from the account of the company to which the funds were transferred.

How does a client account function? Client money is money that belongs to the client, not the organization. Your client account must be identified by your bank. The bank must provide evidence to your organisation that the client money account has been designated as such.

Another question that might be asked is "What is a designated account?"

Designated Account is the Deposit Account of Borrower as per Schedule D-1 of the Agreement or any other Deposit Account of Borrower at Designated Account Bank that has been identified by Borrower and Agent in writing).

What is a solicitor's account client?

Client accounts A client account can be a bank account or building society account that is used to hold client money. It must be a bank account or building society. It must be kept at an office or branch in England or Wales. Name of the relevant law firm, sole practitioner.