These cash deposits pay the same interest rate over a specified term. Once a client has invested into a fixed term deposit, they will be locked in until the maturity date and be unable to sell from it. Furthermore, you cannot pay a single or regular top-up into a fixed term deposit.
Please ensure potential future financial needs are considered before depositing money in these accounts as clients will be unable to access their money before the end of the fixed term.
Some banks may allow withdraws before the end of the term, but normally only in exceptional circumstances (such as severe illness), if you have any queries, please contact us.
These cash deposits allow more flexibility in comparison to fixed term deposits. It is possible to sell out of a notice day account but prior to monies being sold down a notice period must be served (this is product specific and can vary). The interest rates are not fixed meaning that they can fluctuate up and down. If the rate does drop, you will be notified in advance of at least 14 days plus the notice period for the account.
Specific details of each savings account can be found in by selecting the product in the fund research tool which opens the product information.
Interest is accrued daily and for notice day accounts, is applied monthly, as for fixed term deposits, you will not see the change in value until maturity.
This indicative rate is applied to all savings products in the UK, helping you compare interest rates across different products.
Yes, you will find investment within a cash solution included within reports that you can share with your clients.
Cash solutions are fully integrated into the existing Wrap journeys, so you can log in and get started today.
Sign up today or contact our business development team to discuss your needs and how we can help.
