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Estate Accounts provides a banking and investment service to Insolvency Practitioners
(IPs) as required by statute to users of the Insolvency
Services Account (ISA).
IPs
are required by statute to use the Insolvency Services
Account (ISA) for estate banking and investment in relation to both
bankruptcies and compulsory liquidations. Estate Accounts administers this account
with OPG who hold finds at the Bank of England.
Those funds in excess of daily requirements are transferred to the
Insolvency Services Investment Account and managed by the Commissioners for
the Reduction of the National Debt.
THE
AIMS OF ESTATE ACCOUNTS
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To provide a high quality banking and investment service to users of the
Insolvency Services Account.
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To maintain accurate and up-to-date financial and case records.
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To
achieve the objectives, standards and targets set
for Estate Accounts.
SERVICE
TARGETS
The main
service targets we aim to provide for our customers are:
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To
process IP payment
requests within 4 days or by the due date.
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To post bank giro credit receipts
on the day received, subject to the transfer of the estate by the OR.
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To notify IPs of
the purchase and sale of Government Securities on the second day following purchase or redemption.
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To produce and
despatch account statements within 5 days.
COMPLAINTS PROCEDURE
If you have a complaint please write to
Graham Stewart, Head
of Estate Accounts at the address below, marked 'Private and Confidential':
Estate
Accounts
5th
Floor
Ladywood
House
45-46
Stephenson Street
Birmingham
B2 4UZ
Alternatively
you can telephone 0121 698 4265, although you may be asked to set out details
of the complaint in writing. We
will give you a full reply within 10 working days of receipt.
If this is not possible an acknowledgement will be issued within 5
working days explaining why and stating when you can expect to receive a full
reply.
If you are dissatisfied with the response from
Graham Stewart,
you should write to the Director of Estate Accounts at the above address.
If your complaint is
still unresolved you should write to the Inspector General and Chief Executive
of the Insolvency Service at 21 Bloomsbury Street London WC1B 3QW
This is in accordance with The Insolvency Service complaints
procedure.
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