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Client Account Contact

5th November 2020

If you have a Client Account, we may have contacted you recently. Please review the FAQs below if you have any questions.

Frequently Asked Questions

Request for information

Why do I need to provide this information?

As a result of changes in Financial Crime regulation, Cater Allen are now required to hold an increased amount of customer information on all Client Accounts. The information we have requested is necessary to keep the account open.

What happens if I don't provide the information requested?

If the information is not provided to us, we will not be able to maintain the Client Account Master or any Client Accounts linked to it. We will send you a letter to confirm that we will close the account.

What information do I need to complete?

  1. Anti-Money Laundering Questionnaire needs to be completed in relation to the Client Master Account
  2. The customer data sheet needs to be completed for any Client Accounts identified in your communication from us
  3. You must also provide attestation that you have correctly performed Identification and Verification of the KYC information

Where do I send the information once it is complete?

Please return the completed Anti-Money Laundering Questionnaire and the updated Data Sheet via email to admin@caterallen.co.uk

How long do I have to return the information requested?

Please return all the information within 30 calendar days from the date on the letter

What if I need more time to complete the information?

Please contact your Relationship Director if you have one or email us at admin@caterallen.co.uk

Who do I contact if I have more questions?

Please contact your Relationship Director if you have one or email us at admin@caterallen.co.uk

Account closure

Why are Client Accounts being closed?

If a Client Account has a balance of less than £1,000 it no longer meets the requirements to remain open and will be automatically closed 30 days from the date on the letter you received.

What happens if there is a balance on the closing account?

Following the closure of the account we will send any remaining balance to the Client Master Account holder. Master Account holders will need to provide bank account details so that we can process any outstanding payments.

What will happen to a Client Master Account if all the linked accounts are closed?

If a Client Master Account is only linked to accounts with a balance of less than £1,000 it will be closed. No other active Master Accounts, which are used to introduce customers to Cater Allen, will be impacted by these changes.

Will the closure of the Client Master Account affect any other Master Accounts I may have?

No other active Master Accounts, which are used to introduce customers to Cater Allen, will be impacted by these changes.

Who do I contact if I have more questions?

Please contact your Relationship Director if you have one or email us at admin@caterallen.co.uk