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Cash interest explained

You will receive interest on balances in your platform cash account at the prevailing rate.

Embark Investment Services Limited acts as the custodian for investments on the Willis Owen platform and is one of our strategic partners that provides our Willis Owen ISA, GIA, Junior ISA and SIPP.

Embark places cash with a number of banking partners for safekeeping and to provide the potential for you to earn interest on money in your platform cash account. By managing cash in this way, it aims to provide better protection and a higher overall level of interest than if all funds were placed with a single bank.

The rates of interest paid by banks will vary. Embark retains a portion of the interest earned to cover its costs in managing platform cash.

Current Interest Rate

The table below shows the current customer interest rate payable on cash balances along with the amount of interest retained by Embark. The customer interest rate shown is that after accounting for interest retained by Embark:

Date From Customer Interest Rate Interest retained by Embark
12th June 2024 2.6% 1.75% - 2.00%

Embark can change the rate of interest at any time and it reviews the position at least quarterly. Interest is calculated and accrued daily and is credited to your account on the first of each month. If you transfer out, accrued interest is applied at the point of transfer. We will inform you if and when the interest rate changes as soon as is practicable.

Interest retained

The table below shows the yearly equivalent rates of interest Embark expects to pay based on a range of possible yearly interest rates it may earn.

Interest Embark expects to earn Customer Interest Rate Interest retained by Embark
0-1% 0 – 0.46% 0 – 0.54%
1-2% 0.46% – 0.94% 0.54% – 1.06%
2-3% 0.94% – 1.46% 1.06% – 1.54%
3-4% 1.46% – 2.02% 1.54% – 1.98%
4-5% 2.02% – 2.61% 1.98% – 2.39%
5%+ 2.61%+ 2.39%+

Historic Interest Rates

To see details of historic customer interest rates, along with the amount of interest retained by Embark, click here.

We've been helping people take their first step into their financial future since 1982. Since then we've helped over 150,000 customers invest hundreds of millions of pounds.

We've been helping people take their first step into their financial future since 1982. Since then we've helped over 150,000 customers invest hundreds of millions of pounds.

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Women in Finance Charter

At Willis Owen, our commitment is to allow people to own their own financial future regardless of gender, religion or ethnicity.

We also recognise the benefits that a diverse senior management team brings, which is why we’ve signed up to the Women in Finance Charter, a government initiative which promotes diversity and inclusion.

We believe that diversity among our people improves innovation, decision making and the way we deliver excellence for our customers.

Our aim is to maintain female representation at senior management level at a minimum of 40%. As of September 2023 there were 40% of women in senior roles. We have a clear action plan in place and will publish our progress annually against these targets.

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At Willis Owen we know that it’s now more important than ever to show that we are doing everything we can to improve the world we live in for future generations and believe that as a business, we can play our part to reduce any negative impacts we have on the environment.

We’re really pleased to have been awarded a Silver CSR accreditation by CSR-A – a leading UK based organisation that delivers the standard for social responsibility and measures all businesses against four pillars of social responsibility - Environmental, Community, Workplace and Philanthropic. The Silver Award recognises how we have integrated social, environmental, ethical, human rights and consumer concerns into our business operations and strategy.

Over the coming months and years, we will continue to work with our staff and customers to identify ways we can build on the work already in place and deliver more change to help future generations.

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Please note that if you receive a call from us, we will never ask for any account specific information until you have passed our security checks. If you see any suspicious activity, please contact us on 0800 597 2525.

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