Client Money Bank Account definition

Client Money Bank Account means an account at an approved bank in the name of a licensee which includes, in its title, an appropriate description to distinguish the money in the account from a licensee’s own money;
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Client Money Bank Account means the account at an approved bank or CRD Credit Institution that contains Client Money in accordance with the Irish Client Asset Rules;
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Client Money Bank Account means the account at an approved bank or CRD Credit Institution that contains Client Money in accordance with the FCA Handbook of rules and guidance;
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Examples of Client Money Bank Account in a sentence

  • Where the client’s Account does not hold sufficient cash to pay fees, Brooks Macdonald will be entitled to sell Investments to the extent necessary to cover outstanding amounts due (iii) where Client Money is held in a Client Money Bank Account and interest is received on such money, Brooks Macdonald will pay interest on the balance to the client’s Account.

  • This means that it may take longer for funds to be returned to the client in the event of: (a) Brooks Macdonald’s administration, liquidation or analogous procedure; or (b) a market event that results in sustained and high level withdrawals from Brooks Macdonald’s Client Money Bank Account.

  • The cash element of your Plan will be held on your behalf in a Client Money Bank Account in the Plan Administrator’s name at a bank or banks they have approved for that purpose.

  • The work- force reduction related to all the Company’s business areas on account of turnover and expiring contracts.

  • Under Financial Conduct Authority Regulations we have to inform you that we may earn interest from money held in our Client Money Bank Account, which may exceed £20.00 for any one transaction that you make with us.

  • No interest is payable to you on Client Money held in a Client Money Bank Account.

  • This Client Money Bank Account will be separate to any account used to hold money belonging to us in our own right.

  • All monies received by the Product Provider in respect of your Platform Products will be held by the Product Provider in a Client Money Bank Account.

  • Any money which is held on your behalf as Client Money under the Rules will be deposited in a segregated non‑interest bearing Client Money Bank Account.

  • Although some changes were made in 2010 to record monies in the Client Money Bank Account, items were not fully reconciled in the records which One Call maintained and the calculations therefore continued to be non-compliant.


More Definitions of Client Money Bank Account

Client Money Bank Account means a current or deposit account at an Approved Bank that Barclays Investment Solutions holds in its own name to hold the money of one or more clients and that is appropriately titled to distinguish the money in the account from Barclays Investment Solutions’ own.
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Client Money Bank Account means the bank account into which One Call received
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Client Money Bank Account means a client bank account which is used to hold Client Money in accordance with the FCA Rules.
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Related to Client Money Bank Account

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Seller in a written notice to the Purchaser at least five Business Days before the Closing.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Currency of the Client Account means the currency that the Client Account is denominated in, as available by the Company from time to time.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Xxxxxxx Money Deposit shall have the meaning set forth in Section 2.5(a).

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Control Account means a Securities Account or Commodity Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodity Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.