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 you invest in our Collective Investment Bond, cash will be used in some instances to fund fees that you have agreed with your financial adviser or to fund Old Mutual Wealth’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.
For ISAs, JISAs, Collective Investment Accounts and Collective Retirement Accounts the rate of interest from the 6 July 2020 is 0.00% a year before tax.
Historical rates of interest
Please note that cash could not be held in the CRA prior to 23 February 2020.
|
From to |
Interest rate |
|
31 March 2020 to 5 July 2020 |
0.05% |
|
17 March 2020 to 30 March 2020 |
0.10% |
|
24 February 2020 to 16 March 2020 |
0.24% |
|
13 August 2018 to 23 February 2020 |
0.45% |
|
18 December 2017 to 12 August 2018 |
0.32% |
|
14 November 2017 to 17 December 2017 |
0.26% |
|
21 September 2016 to 13 November 2017 |
0.14% |
|
12 August 2016 to 20th September 2016 |
0.20% |
|
5 April 2015 to 11 August 2016 |
0.35% |
|
1 May 2014 to 5 April 2015 |
0.40% |
|
6 April 2014 to 30 April 2014 |
0.35% |
|
April 2009 to 5 April 2014 |
0.10% |
|
March 2009 |
0.60% |
|
February 2009 |
1.10% |
|
January 2009 |
1.60% |
Which banks do you use?
| ISA, JISA, CIA and CRA as at 1st of the month | |
|
Banking partner |
Percentage of cash holdings held |
|
National Westminster Bank PLC |
20% |
|
Barclays Bank PLC |
16% |
|
Lloyds Bank PLC |
16% |
|
HSBC |
16% |
|
Bank of New York Mellon |
16% |
|
Standard Chartered Bank |
16% |
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.