Ensuring your money is fully protected.

Client account arrangements

• Dedicated client account: Wulstans maintains a separate client bank account solely for client funds, as required since 1 April 2019.
• Regulated banking: All client funds are held in UK financial institutions authorised by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme, ensuring availability within a maximum of 31 days.
• Clear account identification: The client account is distinctly titled and separate from operational accounts, labelled as “Client Account”.
• Bank confirmation: Wulstans holds written confirmation from the bank that all client money is held as an agent, with no rights of set-off or counterclaims against these funds.

Financial controls and safeguards

• Robust financial controls: Internal monitoring systems, regular internal audits and external annual audits support compliance and financial security.
• Secure accounting systems: Accounting systems and client data are protected by accredited lettings software.
• Authorised staff only: Only nominated and authorised personnel handle client funds.
• Daily reconciliations: Client accounts are reconciled daily against bank and cash balances to ensure accuracy.
• Sufficient funds: The client account always holds enough funds to meet payment obligations.

Payments, deposits and records

• Client authorisation: Payments from client accounts are only made with prior written client approval.
• Timely deposits: Funds received by cheque, cash or draft are deposited into the designated client account within three business days.
• Detailed transaction records: Comprehensive records of all client money transactions are maintained.
• Prompt client repayments: Any unused client money, including accrued interest where applicable, is returned without delay upon request or when no longer required.

Policy availability

A written procedure for handling client money is readily available at no cost upon request or via this website.