Telegraphic transfer fees
In force from 30 July 2008
A recent Solicitors Disciplinary Tribunal (SDT) decision found against the partners of a practice for concealing profit costs from their clients by referring to a telegraphic transfer fee as a disbursement.
This practice note provides advice to practitioners about what information should be given to clients about charges for telegraphic transfers, and which elements of the fee should be treated as disbursements and which as profit costs.