Interest On Cash Deposits
The annualised rate of interest earned on Transact pooled cash for January 2025 was 4.48% (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 (payable monthly but equivalent to 4.48% p.a. as at January 2025) | Transact charges on an average portfolio of up to £280k |
|---|---|---|---|
£280,000 | £22,680 | £1,016.06 – equivalent to | 26bps |
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2. TOL Recent Enhancements
3. Smart Search To Help With AML
4. One-Off Pension Lifetime Allowance Statements
5. Integrations Make Transfers Complete Sooner
6. Rising Appeal Of Bonds On Transact
7. Transact – BlackRock: March 2025
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11. Interest On Cash
12. Transact Events 2025