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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

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.

Current rate of interest

For ISAs, Junior ISAs, Collective Investment Accounts and Collective Retirement Accounts the rate of interest from 6 August 2022 is 0.50% a year before tax.

Historical rates of interest

Collective Investment Bond (CIB) transactional cash

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

Which banks do you use?

ISA, JISA & CIA as at 1st working day of the month.
Banking partner % of cash holdings held
National Westminster Bank PLC 19%
Barclays Bank PLC 17%
Lloyds Bank PLC 17%
HSBC Bank PLC 14%
Bank of New York Mellon 17%
Standard Chartered Bank 14%
CRA as at 1st working day of the month.
Banking partner % of cash holdings held
National Westminster Bank PLC 19%
Lloyds Bank PLC 15%
Barclays Bank PLC 16%
HSBC Bank PLC 15%
Bank of New York Mellon 19%
Standard Chartered Bank 16%

Due to roundings, the percentage split of funds will not always necessarily add to 100%.

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. 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. 

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

Breathe easy, with our simple cash management

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