YOUR MONEY AND ASSETS Cash Bank Accounts. 7.1 Except as provided in clause 7.4, XX Xxxx will hold money (in any currency) it receives for your account in a pooled general bank account separate from money belonging to XX Xxxx with a Bank or Banks nominated by XX Xxxx in accordance with the FCA Rules. To the extent permitted by the FCA Rules, XX Xxxx may hold your money in a fixed term deposit or notice account. XX Xxxx does this so it is able to place deposits with a wider range of Banks in order to reduce the exposure of XX Xxxx’x customers to the risk of a Bank failure and to obtain better interest rates on the deposits, which helps XX Xxxx to keep its charges low.
