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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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We are due to complete next week, however it is unlikely -

Resolved Question:

We are due to complete next week, however it is unlikely - due to a change in work schedule - that I will be able to get to the bank in person at all next week to make the CHAPS transfer of the deposit. My solicitor has suggested I transfer the money to their client account this week and they will keep it there until completion day.
Is this a normal practice? Are there any risks inherent in this?
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

The client account used just for that - their clients

Alex Watts :

So yes, you can put it in the client account and it will be protected by the Solicitors insurance

Alex Watts :

Therefore this is quite safe.

Alex Watts :

The Solicitors are highly unlikely to use it for their office account, ie day to day expenses

Alex Watts :

So yes, a client account is normal and can be used for this purpose.

Alex Watts :

Of course there is a risk they could run away with your money, but that is highly unlikely

Alex Watts :

Can I clarify anything for you about this today please?

Customer: apologies I clicked the poor service button by accident. thank you for your help
Customer: I will change it to good service!
Alex Watts :

Thank you, ***** ***** please rate as good, as it is still showing as poor!

Alex Watts :

Thanks

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