Close

What's a Financial Institution?

POSTED: 4th October 2018
IN: Business Savings FAQs
Share:

Our policy is not to open accounts for companies that are involved in holding client funds.

A Financial Institution is an entity that:

Accepts deposits in the ordinary course of banking or a similar business, for example, banks and credit unions.

Holds financial assets for the account of others as a substantial portion of its business, for example, brokerages or custodians.

Is engaged primarily in the business of investing, reinvesting, or trading in money market instruments, individual or collective portfolio management, for example, mutual funds, private equities and hedge funds.

Our policy is not to open accounts for companies that are involved in holding client funds.

Can We Help With Anything Else? Email Us Call Us: 01733 821 321