Interest
In order to gain interest on foreign currency lodgments, pursuant to an order, we must receive a completed and authenticated Form 200 (Payment Schedule). This should be authenticated at the court where the action is, or has taken place.
Listed below are the types of interest accounts that are available. You can choose the one which best suits your needs.
- Fast Access Call account - interest accrued is on a daily basis and will be applied according to the daily rate on the market
- Seven Day Deposit account - interest accrued is on a daily basis but will apply as a fixed rate all through the 7 day period
- One Month Deposit account - interest accrued on the money will be on a daily basis but will apply as a fixed rate all through the 30 day period
Please note that once the electronic transfer is complete, the monies will need to fulfil the 7-day or 1-month run-time. It is not possible to withdraw the monies during run-time or after the confirmed roll over date.
To enable the withdrawal of monies out of court, please ensure that the payment schedule, Form 200 (pursuant to an Order) is received by the Court Funds Office at least 3 days prior to the rollover date (rollover date or maturity date is determined from the date money is transferred).
Interest rates applied to foreign currency accounts are determined by the Bank of England.