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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.
Here you’ll find a simple explanation of some of the most commonly used investment terms. If there is any other financial jargon you want translated, please call our Customer Service Team free on 0800 597 2525 or email us at enquiries@willisowen.co.uk and they will be pleased to help.
A financial adviser is an intermediary who is regulated by the FCA to provide advice on financial matters including investments.
Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) is an independent body with statutory powers who is responsible for supervising financial firms, maintaining confidence in the financial system, providing protection for consumers and reducing financial crime.
Financial Services Compensation Scheme (FSCS)
This scheme exists for claims against an authorised financial services company when it is unable to pay claims against because it is insolvent or no longer trading. For companies still in business, claims must be referred to the Financial Ombudsman Service (FOS). You can find out how your investments and cash deposits are protected here
A fixed rate of interest payable each year.
A system of pricing where the price at which investors buy or sell is determined at the next valuation of the fund. Investors do not know the exact price at which units/shares have been bought or sold until after the trade has completed.
The FTSE 100 is an index made up of shares from the 100 biggest companies by market capitalisation on the London Stock Exchange (LSE). The price of the index is determined by the price movement of these constituent stocks.
To be included on the FTSE 100, a company must be listed on the LSE, it must be denominated in pounds, and it must meet minimum float and stock liquidity requirements.
The FTSE All-Share Index is the aggregation of the FTSE 100, FTSE 250 FTSE Small Cap indexes, and represents around 98-99 percent of the total UK market capitalisation. Since 29th December 29 2017 the index has been comprised of the 641 largest U.K. companies by market capitalisation on the London Stock Exchange.
A physical replication method where a fund will attempt to replicate an index by buying all the shares or bonds in the index in the same proportions.
A set of business and/or financial metrics which are used to evaluate the health or performance of a company.
