Interest rates on cash

What is the cash account facility?

Our ISA, Junior ISA (JISA), Collective Investment Account (CIA) and Collective Retirement account (CRA) have their own cash facility.

The facility helps make it easier to keep track of any outgoing and incoming payments under each product, and enables you to hold cash alongside your investments.

Features of the cash facility:

Use it to pay for charges, fees and income instead of selling other investments you hold
Receive dividends and distributions
Option to phase your investments into the market over a period that suits you
Earn interest on the cash you hold

*If your clients invest in our Collective Investment Bond, cash will be used in some instances to fund adviser fees or Quilter’s charges. Cash cannot be selected as an investment within this product and no interest is paid on cash held within the bond.

What interest is payable?

Interest is calculated daily and paid on the first working day of the month.

We do not seek to profit from interest earned on the cash facility. The interest rate is set based upon expected interest, which means we may earn marginally more or less than the interest we pay.

Potential for negative interest rates

When you hold money in your product cash account we place your money with a range of banking partners. We seek to earn the best available rates whilst keeping the money diversified and pass on the interest that we earn. With the current economic situation there is a possibility that the banks could reduce interest rates to zero or introduce negative interest rates. If this were to happen you may see a reduction from your cash held. You can see which banks we are placing money with, in the sections below.

Historical rates of interest

Please note that cash could not be held in the CRA prior to 23 February 2020.

Dates	Interest rate
31 March 2020 to 5 July 2020	0.05% a year before tax
17 March 2020 to 30 March 2020	0.10% a year before tax
24 February 2020 to 16 March 2020	0.24% a year before tax
13 August 2018 to 23 February 2020	0.45% a year before tax

Dates	Interest rate
18 December 2017 to 12 August 2018	0.32% a year before tax
14 November 2017 to 17 December 2017	0.26% a year before tax
21 September 2016 to 13 November 2017	0.14% a year before tax
12 August 2016 to 20th September 2016	0.20% a year before tax
5 April 2015 to 11 August 2016	0.35% a year before tax

Dates	Interest rate
1 May 2014 to 5 April 2015	0.40% a year before tax
6 April 2014 to 30 April 2014	0.35% a year before tax
April 2009 to 5 April 2014	0.10% a year before tax
March 2009	0.60% a year before tax
February 2009	1.10% a year before tax
January 2009	1.60% a year before tax

Which banks do you use?

ISA, JISA, CIA and CRA as at 1st of the month.

Banking partner	% of cash holdings held
National Westminster Bank PLC	15%
Barclays Bank PLC	17%
Lloyds Bank PLC	17%
HSBC	17%
Bank of New York Mellon	17%
Standard Chartered Bank	17%

Protecting your money

We take the protection of client’s money very seriously and there are a number of safeguards in place to protect your money in the highly unlikely event that we or the manager of the assets you invest in becomes insolvent or a bank defaults. Read more about how your cash and investments are protected.

How your money is protected