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Originally designed to improve the interest rates obtained
by solicitors on clients’ accounts, this service is
also available to companies and individuals who wish to increase
the returns which may be obtained on deposits with banks and
building societies.
In order to enable Yew Tree Financial Services to comply with
each client’s requirements, and to provide a bespoke
service, the following information is requested:
- The amount of the funds available.
- The period(s) for which the funds may be placed.
- The rate(s) which are obtained on the client’s
existing deposits and with whom they are placed.
- Any restrictions, whether relating to covenant, size,
country of origin or other, relating to institutions with
whom funds may be placed.
Yew Tree Financial Services will investigate and negotiate
to advise the best deposit rate(s) for suitable deposit options
of which it is aware on dates specified by the client.
The client retains full discretion as to whether to place
funds with institutions introduced by Yew Tree Financial Services.
Yew Tree Financial Services will assist in any formalities
necessary to establish new accounts.
All deposits will be placed directly with institutions and
payment of interest and repayment of capital will be made
directly to the client’s nominated bank account. No
funds will pass through Yew Tree Financial Services or any
third party’s account.
Reports illustrating the enhanced returns will be issued quarterly.
There are no upfront or on-going fees.
Yew Tree Financial Services charges commission at the rate
of 20% of the gross interest rate benefit obtained as a result
of dealing with institutions which it has introduced, payable
when interest is credited to the client’s account. Thus,
if the client obtains an interest rate 1.0% per annum higher
than with its existing bankers, a commission of 0.2% per annum
calculated on the amount of the deposit is payable to Yew
Tree Financial Services.
No commission or contribution to the costs of Yew Tree Financial
Services will be paid by any institution with whom deposits
are placed. |
