A client bank account is a bank account held by, and in the name of, InvestEngine (UK) Limited in which we will hold your money on trust for you. All money held in a client bank account is referred to as ‘client money’.
A client bank account is specially created by us for the purpose of holding your money and the money of other clients. The client bank account is segregated from any other bank account we hold.
All client bank accounts are held at recognised banks. A recognised bank is a bank authorised by the UK Regulator, the Financial Conduct Authority for deposit taking or, is authorised under the law of another acceptable country or territory to carry on activities corresponding to deposit taking.
A general client bank account usually holds money of several clients. The money may be held at one bank or the money may be in multiple bank accounts spread across several banks.
When we hold your money pending future investment, the money will be held in a general client money account.
A client settlement account is a client bank account which is used by us solely to hold the net balance required for the settlement of transactions for clients.
We are covered by the Financial Services Compensation Scheme. Your investments (up to the value of £50,000 per person) are therefore covered by the Scheme.
We will hold your assets in a pooled client account segregated from the firm's and custodians assets.
We are authorised to manage and safeguard your assets on your behalf and we will ensure that your assets are kept secure. Your assets cannot be transferred to other accounts.
No interest is payable on client money held on your behalf.