Client account

A client account is an account for businesses that administer clients' funds and are required, according to Norwegian law, to keep clients funds separate from those of the business.

There are two types of client accounts you can open:

  • Collective client account – a common account for several clients
  • Separate client account – account for a single client

The collective account is opened in the name of the firm that holds the clients’ funds. For separate client accounts the client’s national ID number or company registration is registered as well.

Suitable for:

Law firms, real estate firms, mutual fund managers, collection agencies etc. which are subject to the special legal requirements with respect to holding and managing clients’ funds.

How to open an account

Customer opening a client account for the first time need to contact a customer adviser or their account officer in the bank. Customers that use the internet bank, DNB Connect, can open any additional clients accounts through the Internet banking service.

Important information for companies that open client accounts

The Norwegian banks’ guarantee funds guarantees up to NOK 2 million per depositor. This limit applies even if the depositor has more than one account in the bank. According to the rules for the guarantee scheme, when it comes to collective client accounts, the firm holding the clients’ funds is considered to be the depositor.

If you are not sure whether the special rules for managing clients' funds apply to amounts received by your business, we recommend that you ask your customer adviser in the bank.

Useful links