Interest on money held
Bird & Co Solicitors LLP will pay you a payment in lieu of interest earned whilst monies are held in our client account (provided the sum payable is £50 or more).
The level of interest you can expect to receive, referred to as a payment in lieu of interest earned, will be based on the advertised interest rate(s) payable by our primary bank on the relevant amount, as if it had been held separately in a designated client account in your name. If the amount calculated is less than £50 then no interest will be paid as our administrative costs would exceed this amount. Interest rates can be located via the following link:
https://www.lloydsbank.com/business/retail-business/rates-and-charges/clients-accounts-rates.html