In traditional banking terms, a designated client account allows one to hold their client’s funds across separate accounts. It is of great utility to businesses who routinely hold money for their clients, including lawyers, real estate firms, and accountants.
Designated Client Accounts are offered at most traditional banks, as well as Banking as a Service (BaaS) providers. These accounts enable businesses to manage digital payments and transactions for their clients, keeping each client’s funds separated.
Please contact EMBank for further information on the relevant services.