Cash panel

Helping make your clients' cash work harder

Investment platforms like ours provide access to a wide range of different investment types, ideal for those with long-term financial goals. We also allow our customers to hold cash balances to help with the payment of adviser and service fees and charges, or to act as a temporary haven when the markets are volatile.

We don’t recommend that your clients hold large balances of cash for long periods of time, but if they want their spare cash to work harder in the medium to long term, we offer access to specific products with attractive rates of return via our cash panel.

We partner with Bondsmith, an FCA regulated third-party, to offer a cash panel with a diverse range of fixed term deposit accounts from FCA regulated banks and building societies (referred to below as deposit takers). You can apply for these accounts through our online portal – once you’ve submitted your trade instruction, we’ll then pass it to Bondsmith who’ll in turn place the deposit with the relevant deposit taker.
 

Sometimes Bondsmith may require additional information and documentation from you to satisfy their own anti-money laundering procedures, and if they do require this, they’ll contact you before your investment can be placed.

The Bondsmith service is subject to separate Bondsmith terms and conditions which you need to be aware of. By placing an instruction for a deposit account your client will be regarded as having accepted these terms and conditions. Your client will become a client of Bondsmith once the instruction to invest in a deposit account has been received and accepted by Bondsmith.

You can view the latest list of available deposit accounts and interest rates below. Click on the rates of the deposit taker below for further information about their accounts.

 

Normally we’d expect your client to get the rate disclosed on the day you instruct the investment into a deposit account. However, the interest rates stated are indicative, and the actual rate will be that offered by the deposit taker at the time they receive the application from Bondsmith.

Click on the deposit taker rates for further information about their:

• accounts
• deposit protection status under the Financial Services Compensation Scheme, and
• summary terms

Deposit takers will usually only allow early termination of fixed term deposit accounts on death or divorce.
A proportion of the interest (up to 0.10%) that accrues on amounts placed in cash panel deposits will be paid directly by the deposit taker to Bondsmith. This is known as the “Bondsmith Interest” and Bondsmith receives this for providing their service as a deposit aggregator.

The Bondsmith Interest is deducted from interest rates before they’re displayed to you, so the rate you’ll see is the rate you will receive.