Interest Policy


This policy sets out how Frances Lindsay & Co applies interest in relation to funds held in our client bank account, in accordance with regulatory requirements. Frances Lindsay is committed to compliance with its obligations under the SRA Accounts Rules 2019.


Our interest policy seeks to provide a fair outcome for clients whilst recognising that money must be immediately available, unless clear instructions are received to the contrary.

As required under the regulations, Frances Lindsay has to ensure that client money is kept safe and available for the purpose for which it is provided and separate from funds belonging to the firm.

Client money must be held in a client account as defined by the Banking Act. In doing this, funds are protected from being used to cover any liability to the bank by the firm.

There are two types of client account:

2.1 A general client account where the majority of client money is held. This is on an instant access basis to ensure immediate access to funds and means it is unlikely you will receive as much interest on money held as might have been obtained had you held and invested the funds yourself.

2.2 A designated client account. This account is set up specifically for an individual client and will include in its title a reference to your identity. These may be times when there is a specific contractual requirement to do so.


Money held in a designated client account – we will account to you for all the interest earned on that account ( Interest is usually paid gross but will be paid net if any tax is deducted at source).

Money held in a general client account (or money under our control which should have been held in a client account but was not) – we will account to you for interest when it is fair and reasonable to do so in all the circumstances having regard to the principles and practices as detailed below.

We will normally calculate and pay interest once your matter has been concluded, however there may be instances where it might be more appropriate to account for interest at intervals throughout the matter.

Due to regulatory requirements and administrative costs involved we will not pay interest if the sum calculated is less than £50 in total for the full period during which we hold your money in client account.

We will not pay interest on money held:

a) For payment of a professional disbursement once counsel or other professional has requested a delay in settlement.

b) On an advance from us into our general client account to fund a payment on your behalf in excess of funds already held for you in that account.

c) If there is an agreement to contract out of the provisions of this policy.


This policy will be reviewed on an annual basis to ensure that it continues to deliver a fair outcome to clients.


Interest will be calculated and paid by reference to applicable rates over the period for which we hold cleared funds.

Unless otherwise agreed, where we are conducting more than one matter for you, balances will not be aggregated for calculation purposes

The current rate of interest for our general client account and designated deposit accounts is 0.3%


We support the award-winning NGO, AfriKids by raising funds and awareness of their child rights and community development work in northern Ghana. Click here to learn more.