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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.
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Tax free income and gains |
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Get started with as little as a £25 contribution |
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A wide range of investment options to support your child’s future |
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View the portfolio 24/7 on our easy to use and secure platform |
Excellent and clear guidance to someone not au fait with financial matters given in a friendly and easy manner.
| | You’re a parent or guardian who wants to invest for a child under 18. |
| | You want tax-free income and capital gains. |
| | You’re happy that the child will take over and have access from 18 |
| | You’re uncomfortable with any market volatility. |
| | You want to be able to access the money before the child reaches 18. |
| | Your child has a Child Trust Fund account or a stocks & shares JISA which you don’t want to transfer. |
A stocks & shares Junior ISA (JISA) provides a way for a parent or guardian to invest up to £9,000 per year (2024/25) for their child. It is a tax free way to put something aside for university, save for their first car or just help them achieve their goals. There’s no income or capital gains tax to pay on any money the investments make and you can choose from a wide range of funds, shares, investment trusts and exchange traded funds.
Once you open a JISA for your child, you become the ‘registered contact’, and are responsible for managing the account. When your child reaches 18, the account automatically passes to them at which point they can start to take money out if they want to. Our JISA isn’t available for children who have a Child Trust Fund (CTF) account.
You can start investing from as little as £25, either as a lump sum or regularly. There's a limit on how much money can be paid into JISAs for a child during a tax year. A child can have a maximum of one cash JISA and one stocks & shares JISA at any point and the annual limit (£9,000 for 2024/25) is shared across both.
The Willis Owen ISA offers you choice, whether you’re new to investing or more seasoned, preferring to explore our powerful research tools and broader functionality.
Simple risk-based options, leaving day-to-day investment decisions to a professional.
Our list of expertly researched, high-quality funds we think represent good value.
Build your own portfolio from thousands of funds, ETFs, investment trusts and shares.
When investing you will pay a Willis Owen service fee as well as investment charges. If you invest in more specialist things like shares, investment trusts and exchange traded funds, you may also pay trade fees and government levies. Further details of all costs and charges can be found below and include VAT where applicable. When looking at the fees that other firms charge, you may notice that some don’t appear in our tariff. This means we don’t charge you these fees.
You can get an idea of how much you might pay in fees by using the ‘Charges estimator’.
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Tax free income and gains |
|
|
Get started with as little as a £25 contribution |
|
|
A wide range of investment options to support your child’s future |
|
|
View the portfolio 24/7 on our easy to use and secure platform |
Excellent and clear guidance to someone not au fait with financial matters given in a friendly and easy manner.
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