Client cash deposits

Worried about your money?

The Share Centre is very conscious of its position of trust and the responsibilities it has as a trustee of client money.

As part of our normal procedures – in place before the current banking sector issues – we regularly review our banking relationships and the distribution of deposits. As a matter of Board policy we only use highly-rated institutions as assessed by respected credit rating agencies. At present cash deposits are spread across HBOS, Clydesdale Bank (part of National Australia group) and HSBC. We diversify our funds between these institutions with the majority (approximately 50%) of the client money held with HSBC.

All client monies are held in client trust accounts so are separate from the funds of The Share Centre

We have also sought reassurance from the Financial Services Compensation Scheme (the FSCS) that, although client money is held in a pooled account, the FSCS limits would apply to each underlying beneficiary, i.e. to each of The Share Centre's individual customers.

Useful information

HBOS, HSBC and Clydesdale Bank are all covered by the FSCS. The FSCS allows for a maximum of £50,000 across all cash the customer holds with each bank to be claimed in the event that any of these banks fails.

The Share Centre diversifies cash deposits between all three banks and the mix varies on a daily basis. This means that for Share Accounts, ISAs, SIPPs and EIS Accounts, your cash is spread amongst the three banks.

Client stock deposits

All stock is held in trust status in Share Nominees Ltd with customers as the beneficial owners. It is held separate from any stock held by The Share Centre and is ring-fenced.

01296 41 41 41

Any questions?

Please call our Customer Service team if you have any questions about client cash deposits.

The Share Centre Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority and is entered in the register (www.fsa.gov.uk/register) under reference 146768. Registered office: Oxford House, Oxford Road, Aylesbury, Buckinghamshire, HP21 8SZ. Registered in England no. 2461949. VAT registration no. 596 3918 82.