The current version of our terms and conditions along with the interest rates and the cash management administration charge we apply on the various cash accounts held within your Wrap account are set out below.
Each Wrap client automatically has access to a Wrap cash account. Wrap cash is the hub of your Wrap. In addition, the Wrap platform also operates cash accounts at a product level. The interest rates on all these accounts are variable and may go up and down regularly. Here are the annual gross interest rates which we currently pay:
|Product||Current interest rate
|Wrap cash account||0.00%|
|Stocks & Shares ISA (cash component)||0.00%|
|Personal Portfolio cash account||0.00%|
We apply a cash management administration charge (CMAC) for the administration of the cash held in the Wrap cash accounts outlined below.
The CMAC is in addition to any platform and product charges that may apply to these cash accounts.
This charge is taken directly from the interest received from the bank(s) used to provide these accounts and so is not deducted from the interest we pay you.
The charges vary depending on the interest received from the bank(s) and may go up and down regularly. We will notify you or your financial adviser if the charge exceeds 1.75%.
You should visit this webpage regularly for details of the CMAC.The CMAC rates stated are example annual rates based on the interest rates received from the bank(s) used to provide these accounts as at 23/03/2020, and assuming
|Wrap cash account||0.08%|
|Stocks & Shares ISA (cash component)||0.08%|
|Personal Portfolio cash account||0.08%|
Charges are per annum.
|Value of Platform Eligible Assets||Annual platform charge for Wrap cash ISA (deducted for each band)||Annual platform charge for Wrap cash account, Wrap stocks and shares ISA, Wrap Personal Portfolio (deducted for each band)|
|First £0 - £249,999.99||0.00%||0.35%|
|Next £250,000 – £749,999.99||0.00%||0.25%|
|Next £750,000 – £999,999.99||0.00%||0.15%|
|On the balance above £1,000,000||0.00%||0.10%|
Important – Our interest rates and the cash management administration charges are regularly reviewed so you should visit this webpage regularly.
0345 279 1001 For paper copies of these terms and conditions or for details about your charges please give us a call. Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.