INTEREST ON CASH DEPORITS
The annualised rate of interest earned on Transact pooled cash for March 2025 was 4.17% (paid monthly) and this has been credited to client portfolios. On average at the end of February, clients held 8.01% of their portfolio values in cash.
We use seven UK-licensed banks: Barclays, Cater Allen, Clydesdale, HSBC, Lloyds, NatWest and Santander and our treasury function expertly manages the cash across different notice periods (up to 95 days – the maximum allowed under the FCA’s client money rules). To help you and your clients when considering your FSCS exposures, details of the banks we use and the percentages held with each bank are updated monthly and published here.
It’s possible for the interest earned on a client’s cash holding to cover Transact’s annual charges, for example:
| Average Transact Portfolio Value | Cash held (8.01% of total portfolio) | Annual interest on cash (which is subject to change and payable monthly). For March 2025 the rate was equivalent to 4.17% p.a. | Transact charges on an average portfolio of up to £280k |
|---|---|---|---|
£280,000 | £22,428 | £935.25 – equivalent to | 26bps |
1. Introduction
2. TOL Recent Enhancements
3. Our New Account Opening API
4. CURO 3 & Fee Reconciliation
5. FCA Ongoing Service Review
6. Transact – BlackRock MPS Update
7. Offshore Reporting Funds – Excess Reportable Income and Capital Gains
8. Tax Year End Reporting – Annual Allowance Charge And Scheme Pays
9. A Study In Gifting – Distributing Benefits From A Relevant Property
10. Interest On Cash
11. Transact Events 2025