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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

*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.

Current rate of interest

For ISAs, Junior ISAs, Collective Investment Accounts and Collective Retirement Accounts the rate of interest from the 6 July 2020 is 0.00% a year before tax.

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

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