Private investors who use the UK Service through a financial adviser can benefit from our Cash Management Service.
For our UK service, we place client money held in your portfolio with a number of regulated deposit takers chosen for their financial strength.
Your deposits are covered by the Financial Services Compensation Scheme (FSCS), providing clients with retail deposits protection of up to £75,000 per person per institution in the unlikely event of a bank failure.
Our rates, shown in the table on the right, are tied to The Bank of England Base Rate. Our rates of interest depend on other factors, particularly LIBOR, and the relationship between Platform One interest rates and Bank of England Base Rates is not guaranteed.
How we calculate the interest due:
- We add the cash balances in the Deposit, Reserve and Income accounts together within each wrapper in a client portfolio administered for us by IFDL.
- This sum is then used to determine which interest rate applies, using the tiers shown in the table on the right.
- Interest is calculated on the daily balances and paid to a client account within 6 working days of the month end with a value date of the first day after the month end.
The Cash Management Service is for pounds sterling only. We do not pay interest on non-sterling balances if those are held. No interest is due on cash in-transit held in the Platform One client money accounts.
Please note, the £75,000 protection covers a client’s total holding with a single authorised institution and also includes holdings off the platform. For more information about the protection provided by the Financial Services Compensation Scheme (FSCS) please click here.
For other Platform One services (International, Global, Hallmark Schemes, Alternative Investments, Portfolio Express) no interest is credited in the prevailing markets.
|£0 – £49,999||0.000%|
|£50,000 – £149,999||0.000%|
|£150,000 – £249,999||0.000%|
|£250,000 and above||0.000%|
Please note: the above rates are only applicable to our UK service, excluding Plato, Portfolio Express and Alternative Investments.