Information for existing ISA customers

Find out about ISA charges and how they're applied. With our Stocks and Shares ISA, you'll pay an overall yearly charge, which is made up of:

• A platform charge - covering the costs of the services we provide to manage your account
• A fund charge - covering the costs of managing the fund(s) you're invested in

Jargon in financial services can be confusing which makes it hard for you to compare services or to understand what you will pay. This document identifies the main components of platform charges and explains what these different charges might look like.

• Easy option - you'll pay a fund charge of 0.20%.
• DIY option - the fund charge will depend on the fund(s) you choose to invest in.

You can find details of all of the charges associated with our ISA and the investment choices you make as part of your application. You can also read our key features document.

You automatically have access to a Platform cash account. In addition, the Wrap platform also operates cash accounts at a product level.

The annual gross interest rate we pay you on the Stocks and Shares ISA cash account and Personal Portfolio cash account is calculated with reference to the Bank of England base rate. This means that you can always work out what the interest rate paid will be, using the table below (paid rates are rounded up to the nearest 0.01%):

For example, under the base rate announced on 23rd March 2023 of 4.25%, the rate we pay to customers on product level cash accounts is 2.23% per annum. This is calculated as 0% of the first 0.50%, plus 30% of the next 0.50%, plus 50% of the next 1.00%, plus 70% of the next 2.25%; i.e., 0.00% + 0.15% + 0.50% + 1.58% = 2.23%

Interest is calculated daily. If the base rate is negative this table will not apply, and paid rates may become negative. When the Bank of England base rate changes, the rate paid to customers will be updated within five working days. The interest rate on the Platform cash account is 0.00% per annum.

The rate we earn from our banking partner(s) may be higher or lower than base rate and may vary daily. We retain any additional interest earned as a margin to cover costs in managing cash. We call this margin the Cash Management Administration Charge (CMAC). The CMAC is taken directly from the interest received from the bank(s), so will not appear as a separate charge.

Last month we told you that we are updating your terms and conditions to reflect the enhancements we are making to our platform and products, and that we would confirm the effective date of your updated terms by the end of this year.

We’re pleased to let you know that the new effective date for your new terms and conditions will be 1 February 2023. On this date we will upload your new terms and conditions documents here - until then, your current terms continue to apply. If you have any questions, please call us on 0800 027 4675.