The Cash Management Account
Important information: The value of investments can go down as well as up so you may get back less than you invest. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.
An easier way to manage your money
We give you a Cash Management Account if you hold an ISA, SIPP or Investment Account*. You can use it to pay for fees, transfer money between accounts, or just to hold cash in. We do not charge a service fee on money held in your Cash Management Account. Money held in the Cash Management Account is not invested on the stock market so will not go down as a result of market movements.
Keep your ISA and SIPP savings where they are
We collect fees from any cash held here, before we look to take money or sell from investments held in other accounts, for example your tax-wrapped ISA or SIPP.
Transfer money between accounts
Move money into or out of the Cash Management Account, for example to fund your ISA or SIPP from your Investment Account.
You can keep your money in the Cash Management Account temporarily, until you’re ready to move it into an account.
*Cash Management Accounts aren’t available for Investment Accounts that you hold jointly with someone else.
How does service fee collection work?
We deduct your service fee around the 1st of every month. This is calculated based on the total value of your investments held the previous month.
When you pay service fees, they are always taken from your Cash Management Account.
- If you have cash in there, we will take the fees from this cash rather than any tax-wrapped ISA and SIPP investments you may have.
- If you don't have enough cash in your Cash Management Account, we will sell from the account the fee has come from to make up the outstanding balance and transfer that to the Cash Management Account. When we do this, we have a hierarchy and start by selling from cash within your account, then your largest investment by value and by asset class. This means for example we would take the fee from the largest fund before we take it from an exchange-traded fund or investment trust.
- We take your ISA fees first, then SIPP, and finally any Investment Accounts from the Cash Management Account. This gives you the best chance of keeping your ISA and SIPP savings where they are.
- For joint accounts that you hold, we take the fee directly from those accounts, and not from the Cash Management Account.
In addition to our service fee, there may also be charges set by the company managing your funds, and there will be additional charges for any share dealing you engage in. For more details, please visit our main fees and charges page.
Frequently asked questions
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