Client Bank Account definition

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.

Client Bank Account means any segregated bank account maintained by the Company for the only purpose of concentrating and holding the Client’s Money. Clients’ deposits and withdrawals should be only directed to/be processed from the Client Bank Account.

Client Bank Account means the cash account maintained by the Custodian with a reputable credit institution designated as a client bank account with trust status identified as the bank account into which all Subscriptions must be paid.

Examples of Client Bank Account in a sentence

• A PPD member’s firm that receives or holds Client money must maintain at least one Client (Bank) Account for this purpose.

• New PPD applicants and current PPD members whose newly acquired company inherited a Client (Bank) Account balance, or whose company has already had an accounting year end, will need to submit immediately an Accountant’s Report for the company’s last financial year.

• It is permissible to hold tenants’ deposit monies relating to such properties in a Client (Bank) Account.

• A member must not conduct personal or office transactions through a Client Bank Account, save that it shall be permissible for the member to manage and collect rent on a property or properties belonging to any principal, partner, or director of the firm, so long as the number of properties involved are de minimis (no more than 5%), declared to and so recorded by the Accountant while completing the annual audit.

• New PPD firms that have started trading with a Client (Bank) Account nil balance, and have not yet had an accounting year end, are required to submit immediately an Accountant’s Report.

More Definitions of Client Bank Account

Client Bank Account means an account at an approved bank which –

Client Bank Account means an account held by a licensed fiduciary at an approved bank which holds, or is intended to hold, money on behalf of one or more clients;

Client Bank Account means a client bank account as defined in Article 120 of the Permit Conditions Order;

Client Bank Account means an account at a bank or credit institution, in which we hold money belonging to you and other clients of Hargreaves Lansdown;

Client Bank Account means one or more bank accounts opened, maintained and operated by the Portfolio Manager for the purpose of managing funds on behalf of the Client with any Scheduled Commercial Bank.

Client Bank Account means any bank account maintained by the Company, or other parties designated for this purpose by the Company, for the purpose of concentrating and holding the Client’s Money. Clients’ deposits and withdrawals should be only directed to/be processed from the Client Bank Account.

Client Bank Account means a segregated bank account for protecting funds paid by the Charterer, payable to you as per this Agreement and the applicable Charter Contract. No interest will accrue on funds in a Client Bank Account;