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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 |
|---|---|---|
| 25th March 2024 | 2.46% | 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.
Job title: Head of Content & Communications
Department: Marketing
We’re an exciting and driven group of people who puts good customer outcomes at the heart of all that we do. We also want more of our customers and potential customers to be able to take charge of their own financial futures, but, we need to tell them about us! We have created, what we believe to be, one of the best investment platforms in the market supported by simple but informative content and welcoming (but not too pushy) communications. We are growing, and to grow and retain our core values, we need talented, driven and enthusiastic individuals to come on the ride with us. Could that be you? Well, tell us about yourself and we can see if we share the same values and the same destination.
You can read more about the role in the job profile below.
For the right candidate, we can offer a very competitive salary along with a range of other benefits. Your experiences as a communication professional and consumer will have shaped the way you believe we should attract and keep customers. You have enjoyed working in environments that build complex products, not necessarily in financial services, and have embraced the hurdles of presenting the complex, simply. You are technically proficient, realising that this is a core skill for the communications expert of today. You will have strong views, but realise that, for ultimate success, you will need to bring along the team.
You are now looking for your next move, somewhere you can create, from the ground up, a communications and content strategy that you can be measured by. The benefits of a small business, outshine the chains of the large, you are ready to make a real mark and be recognised for it.
Job Profile
