EAS provides an estate accounting and investment service to Insolvency Practitioners (IPs) and Official Receivers (ORs) using the Insolvency Services Account.  

THE VISION OF EAS

Our standard of work and our relationship with our customers should identify us as a first class provider of investment and estate accounting services to IPs and ORs using the ISA and thereby all stakeholders in Insolvency.  

THE AIMS OF EAS

·         To provide a high quality Estate Accounting and investment service to users of the ISA.   

·         To maintain accurate and up-to-date financial and case records.

·         To continuously improve our customers' satisfaction.

·         To maximise the efficiency of all our business processes.

·         To promote a fair and effective environment for our staff to increase their satisfaction and output.

·         To maximise the efficiency and effectiveness of our resources.

·         To respond flexibly and innovatively to the challenges and expectations of a diverse 21st Century society.

SERVICE TARGETS

The main service targets for our customers are:

·         to process cheque payment requests within 4 days of receipt

·         to process BACS payment requests within 2 days of receipt

·         to post receipts to the correct account on the day of receipt

·         to notify IPs of the purchase and sale of Government securities on the second day after purchase or redemption

·         to send account statements within 5 days of receiving the request and twice- yearly statements for all cases within 5 days of the statement date to those IPs who do not use BANCS Online.

WHERE IS EAS?

Address      

Estate Accounts Services

The Insolvency Service

P O Box 3690

Birmingham

B2 4UY

HOW IS EAS ORGANISED?

Director  - Jim Curtois

EAS is divided into two streams as:  

·       Operations & Customer Support (Front Office)

·       Accounting & Control (Back Office)

Head of Operations & Customer Support - Graham Stewart

The unit is divided into four main sections.  Those providing services to IPs are:

1.   Payments, Receipts & Deposits

The main duties are:

·      Crediting receipts to estate accounts

·      Processing incoming payment requisitions

·      Recording creditors petitions onto the system.

? IP Receipts & Payments     '  0121 698 4258/4072/4283  

? OR Receipts & Payments   ' 0121 698 4258/4173/4219

? Petitions & Deposits           '    0121 698 4286

2.   Enquiries & Unclaimed Monies

The main duties are:

·      Dealing with customer enquiries

·      Reconciling estate accounts

·      Reissue expired cheques

·      Reissue funds from CAU103s/CAU104s

·      Reconciliation of CAU103s/CAU104s against funds received

·      Liaising with tracing organisations

?  Enquiries                             '  0121 698 4268  

?  Unclaimed Monies             '  0121 698 4068/4169

3.   Cashiers

The main duties are:

·        Liaison with the Office of the Paymaster General, LloydsTSB and the Bank of England

·        Dispatching cheques

·        Issuing bank giro credit (BGC) books

·        Processing cancel/reissue in-date cheques

·        Processing investment instructions.

·        Processing interest bearing instructions Processing  

  ?  Cashiers                        '  0121 698 4181/4257/4220  

4.   Releases

The main duties are:

·      Processing OR final receipts & payments accounts.

·      Processing IP final receipts & payments accounts.   

? Releases           ' 0121 698 4268/4144

Head of Estate Accounting & Control – Neil Haddon

The unit is divided into two main sections:

1.   Business Support Team

The main duties are:

·    Creating and supporting IPs on the Online BANCS system

·        Data integrity of the current financial systems .

·        Delivering strategic business support to EAS staff and other users of our systems.  

?  Business Support           '  0121 698 4284/4269

2.   Financial & Management Accounting

The main duties are:

·      Delivery of management reporting

·      Delivery of financial controls & reporting (white paper accounts)

·      Delivery of EAS Corporate Governance

·      Risk monitoring

·      Controlling & reporting of business fees

Fax Numbers Ê 0121 698 4403/4404

ACCOUNT IDENTIFIER (ID)

The EAS computer system uses an Account ID, which you must use when you contact us.  It comprises of 13 digits followed by B, C or V to identify the insolvency type and a check digit for security.

Please use a 5-digit number to identify the account type (e.g. 00/000 for main and 02/000 for suspense/ fixed charge).

HOW IS IT ISSUED?

In bankruptcy and compulsory liquidation cases, the OR will issue the Account ID when handing over the case to you.  In voluntary liquidation cases we will issue you the Account ID within 3 days of receiving your first deposit into the Insolvency Services Account.

PLEASE QUOTE THE CORRECT ACCOUNT ID AT ALL TIMES.

If you have a query on the ID, please contact EAS Enquiries.

REMITTANCES AND WITHDRAWALS

When should I pay money into the ISA?

For bankruptcies and compulsory liquidations, you must pay in all money you receive while carrying out your IP functions, without deductions: once every 14 days; or immediately if you receive £5,000 or more.

 (Regulations 5 & 20 of the Insolvency Regulations 1994 refer.)

For voluntary cases, you may pay money into the ISA where this is convenient. 

As of 06/04/08 for administrations/administrative receivership you may pay unclaimed monies where this is convenient.

·         the Insolvency (amendment) Regulations 2008

·         the Insolvency Practitioners and Insolvency Services Account (fees) (amendment) (No.2) order 2008

How should I pay money into the ISA?

Through the bank giro system, by electronic transfer to the Office of the Paymaster General or directly to EAS.  Deposits must be accompanied by a bank giro slip, obtained from the cashiers section.  For credits by electronic transfer, please quote the Account ID as the credit reference.

When depositing money, please always quote the Account ID. This will prevent delay. Cheques should be made payable to the “Insolvency Services Account”.

For details of OPG Sort Code and Accounts numbers to be used for paying monies into the ISA please click on this link

How do I withdraw money from the ISA?

By completing the requisition form CAU101 (or one substantially similar).  Please complete form CAU109 (or one substantially similar) for dividend cheques to individual creditors.  For payments by electronic transfer, please complete a CAU105 (or one substantially similar).

You can obtain these forms from EAS Enquiries or download them via the website by clicking on this link

Please ensure that you clearly state the name of the payee and the amount due.  For payments by electronic transfer, please always quote sort code, account name and number, and a fax number for notification of payment.

In a case of a joint appointment, please ensure that both IPs sign the requisition form (unless there is an authority to the contrary).

We will charge a cheque fee of 80p for each cheque issued a fee of 15p for each payment by BACS and £10:00 for each payment by CHAPS.

RECONCILIATION OF BALANCES

How do I get an account statement?

We will issue a statement when a new estate account is opened and at 6- monthly intervals thereafter. However no 6 monthly account statements will be issued if you are using the BANCS Online Service. If you need additional statements, please contact EAS Enquiries who will issue one within 5 days. Please regularly reconcile your records to those of EAS.

If I cannot reconcile my account, what should I do?

If you need assistance, or there is anything you do not understand about the account, please contact EAS Enquiries.

USER GROUP

EAS has an active user group that is a useful contact and interaction point for it's stakeholders.

INVESTING FUNDS

You can invest funds from company liquidations and bankruptcy cases.  The options are:

·    we automatically invest funds in an interest-bearing account, unless you direct us not to do this. The rate of interest can     be found under Interest On Funds Held in the ISA

·    investments in Government securities.

How do I invest money?

To purchase Government securities, please contact Cashiers 

A fee is charged for buying investments of £50.

WHEN DOES EAS CHARGE FEES?

EAS charges fees on:

·    receipts into the ISA on bankruptcy and compulsory liquidation cases including VAT refunds, net interest earned and gains on investments

·    handling cheque and electronic transfer payments out of the ISA

·    there is also a quarterly banking fee charged on 1st April, 1st July, 1st October & 1st January

·    investment purchases  

·    as of the 6th April 2008 there will be a fee charged of £25.00 per estate, per receipt on any unclaimed monies received for administration or administrative receivership cases 

Generally fees are not chargeable on receipts comprising third party or secured creditor money.

See Table of Fees

COMPLAINTS PROCEDURE

If you have a complaint about EAS, please write to Graham Stewart the Head of Operations & Customer Support.  Alternatively you can telephone EAS Enquiries on 0121 698 4268, 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, we will issue an acknowledgement within 5 working days explaining why and stating when you can expect to receive a full reply. The target is to respond to 90% of complaints in 10 days and the remaining 10% in 20 days.

If you are dissatisfied with the response from EAS, you should write to Jim Curtois 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’s complaints procedure