Interest on Cash
The annualised rate of interest earned on Transact pooled cash for December 2024 was 4.47% (paid monthly) and this has been credited to client portfolios. On average at the end of November clients held 8.11% 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 (8.11% of total portfolio) | Annual interest on cash (payable monthly but equivalent to 4.47% p.a. as at December 2024) | Transact charges on an average portfolio of up to £280k |
|---|---|---|---|
£280,000 | £22,708 | £1,015.05 – equivalent to | 26bps |
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2. TOL Recent Enhancements
3. Transact 2025 Charge Reduction
4. Why Some Firms Integrate Directly With Transact
5. Transact & US Trading
6. Succession Planning Update
7. Transact – BlackRock MPS & Growth
8. A Study Of Gifting: Loan Trusts
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10. ISAs – Treatment Of Accounts Following Death
11. Interest On Cash
12. Transact Events 2025