The current version of our terms and conditions along with the interest rates and the cash management administration charge we apply on the various cash accounts held within your Wrap account are set out below.
These Terms and Conditions are applicable to all Wrap clients:
This policy applies to all Wrap clients and provides you and (if applicable) your financial adviser with information about our Order Execution Policy and should be read together with the Wrap Services Client Terms and Conditions.
Summary information on the quality of order execution obtained
These Terms and Conditions are only applicable to clients that have opened a Wrap Personal Portfolio and/or Wrap ISA.
These Terms and Conditions are only applicable to clients that have opened a Self Invested Personal Pension for Wrap.
These policy provisions are only applicable to clients that have opened an Onshore Bond for Wrap.
These policy provisions are only applicable to clients that have opened an International Portfolio Bond for Wrap.
If you would like a paper copy of any of these terms and conditions please contact your adviser or call us at 0345 279 1001.
Each Wrap client automatically has access to a Wrap cash account. Wrap cash is the hub of your Wrap. In addition, the Wrap platform also operates cash accounts at a product level. The interest rates on all these accounts are variable and may go up and down regularly. Here are the annual gross interest rates which we currently pay:
|Product||Current interest rate
|Wrap cash account||0.00%|
|Wrap Cash ISA||0.00%|
|Wrap Stocks & Shares ISA (cash component)||0.00%|
|Wrap Personal Portfolio cash account||0.00%|
Cash account for Wrap SIPP
A minimum rate of interest equal to the Bank of England base rate on the day in question less 1% will be payable. However, we currently choose to pay a higher rate of interest of 0.00% gross per annum.
Cash account for International Portfolio Bond for wrap
From 23 March 2020 the interest rate payable is 0.00% gross per annum. Please note that the interest rate may vary from time to time.
We apply a cash management administration charge (CMAC) for the administration of the cash held in the Wrap cash accounts outlined below.
The CMAC is in addition to any platform and product charges that may apply to these cash accounts.
This charge is taken directly from the interest received from the bank(s) used to provide these accounts and so is not deducted from the interest we pay you.
The charges vary depending on the interest received from the bank(s) and may go up and down regularly. We will notify you or your financial adviser if the charge exceeds 1.75%.
You should visit this webpage regularly for details of the CMAC.
The CMAC rates stated are example annual rates based on the interest rates received from the bank(s) used to provide these accounts as at 23/03/2020, and assuming a Bank of England Base Rate of 0.10%. For current or previous CMACs please call us.
|Wrap cash account||0.08%|
|Wrap Cash ISA||0.08%|
|Wrap Stocks & Shares ISA (cash component)||0.08%|
|Wrap Personal Portfolio cash account||0.08%|
|SIPP cash account||0.13%|
|International Portfolio Bond cash account||0.13%|
Charges are per annum
|Value of your platform eligible assets
||Annual platform charge for Wrap cash account and Wrap products (deducted for each band)
||Annual additional product administration charge for Wrap SIPP (deducted for each band)
||Annual additional product administration charge for international portfolio bond for Wrap and onshore bond for wrap (deducted for each band)|
|On the first £0 - £249,999.99||0.35%||0.05%||0.15%|
|On the next £250,000 - £749,999.99||0.25%||0.05%||0.15%|
|On the next £750,000 - £999,999.99||0.15%||0.05%||0.15%|
|On the balance above £1,000,000||0.10%||0.05%||0.15%|
Important – Our interest rates and the cash management administration charges are regularly reviewed so you should visit this webpage regularly.