Interest on cash
The annualised rate of interest earned on Transact pooled cash for June 2025 was 3.96% (paid monthly) and this has been credited to client portfolios. At the end of June 2025, clients held on average 8.33% 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 (8.33% of total portfolio) | Annual interest on cash (which is subject to change and payable monthly). For July 2025 the rate was equivalent to 3.97% p.a. | Transact charges on an average portfolio of up to £280k |
|---|---|---|---|
£280,000 | £23,324 | £925.96 – equivalent to | 26bps |
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