Client Account & Interest Policy

In compliance with the OISC Client Accounts Rules, it is our policy to account to its clients for a sum in lieu of interest on a fair and reasonable basis as follows:

  • client monies will normally be held in a separate client bank account, in which amounts for different immigration matters and clients are pooled and kept in their name,
  • a sum in lieu of interest will be payable (subject to any applicable withholding tax) on amounts held in client bank account on the following basis:
    • interest will be calculated daily on the balance held for each individual matter, and compounded on a six monthly basis
    • for sums below £1 Million – interest will be based on the interest rate payable by the bank on the relevant amount, if it were to be held separately in our instant access client account
    • amounts of £1 Million and above – interest will be paid at the rate obtained by the firm when placing excess client account funds on the overnight money market with the bank at which the funds are held, unless the interest rate obtainable is such that the firm decides not to place any funds, in which case interest will be calculated as above
    • in ordinary circumstances, if the total amount of interest calculated over the course of a transaction is less than £20, no interest will be paid as we consider that the administrative costs of dealing with the funds would exceed the interest due. In this case the interest will be paid to a reputable charity,
  • client monies will normally be held in an instant access bank account to facilitate transactions, however if specific instructions are received from the client requesting that funds be placed on a term deposit, interest earned on such term deposits shall be paid to the client in full,

If client monies are held in a separate designated deposit account (i.e. a specific bank account, for a specific matter) all interest earned on that account will be credited to that bank account and paid to the client in full (subject to any applicable withholding tax).

Current Interest Rates

BalanceTracker Rule
% below
Base Rate
Gross rate % 2AER %Net rate %
£1 million+