cLIENTS RESERVE ACCOUNT
An instant access, interest bearing savings account in sterling for commercial clients who are authorised to hold third party funds.
Eligibility criteria: Our business savings accounts are available to Coutts Commercial clients who hold a Coutts Business Current Account.
apply for a clients reserve account
If you are authorised to hold client monies, the Clients Reserve Account provides you with instant access to these deposits. With no withdrawal limits this account can help with short to medium term deposit needs. A variable interest rate is paid quarterly.
why choose a clients reserve account?
- An account designed specifically to help you manage third-party monies.
- Offers banded interest rates which increase based on the balance of your deposit.
- Can be set up for either designated or general money purposes.
How it works
Complete this form or contact your commercial banker to get started. You'll also need a Coutts Business Current Account.
Sit back and watch your business' money grow. You'll be able to make withdrawals and deposits at any time.
Summary Box
Account name: Clients Reserve Account
What is the interest rate?
| Sterling | AER p.a. (Variable) | Gross p.a. (Variable) | AER p.a. (Variable) | Gross p.a. (Variable) |
|---|---|---|---|---|
| Rates until 09/01/2025 | Rates from 10/01/2025 | |||
| £1 - £999,999 | 1.36% | 1.35% | 1.26% | 1.25% |
| £1m - £9,999,999 | 1.61% | 1.60% | 1.51% | 1.50% |
| £10m + | 1.81% | 1.80% | 1.71% | 1.70% |
- Interest paid quarterly
- Rate effective from 10 October 2024
can coutts change the interest rate?
Yes, the applicable interest rate is variable:
- If the rate goes down, we will give you at least 60 days’ notice.
- If it goes up, we will give you notice either before the change happens or as soon as possible afterwards.
What would the estimated balance be after 12 months based on a £100,000 and £1m deposit?
| Deposit Amount | Balance after 12 months |
| £100,000 | £101,255.88 |
| £1m | £1,015,084.56 |
This example assumes that:
- No further deposits or withdrawals are made.
- Any interest earned stays in the account.
- There is no change to interest rates and tiers.
How do I open and manage my account?
- This account is only available to you if you hold a Coutts Business Current Account and you are duly authorised to hold clients' moneys.
- A minimum of £1 is required to open your account. There is no maximum balance.
- You can open your account by completing this form or by contacting your commercial banker.
- You can manage your account by contacting your commercial banker or via our digital services.
Can I withdraw money?
Yes, you may withdraw £1 or more by transfer to your Coutts Business Current Account.
additional information
Currencies
This account is available in sterling only.
Tax
We do not deduct tax from the interest we pay to you. The tax treatment may be subject to change in the future and depends on your individual circumstances.
If you are unsure of your tax obligations you are strongly advised to source independent tax advice.
Definitions
aer
Stands for Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year.
Gross Rate
This means the interest rate you’re paid without the deduction of UK income tax.
PA
Per annum (per year)
Your eligible cash deposits held with Coutts & Co are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered. Investment business undertaken with Coutts & Co in the UK may be covered by the FSCS, the cover depending on the nature of the claim being made. Eligible claims for most types of investment business are covered up to a maximum of £85,000 per person. FSCS cover is not available for loss of money resulting from performance of the investment.
