How we manage your cash
Investment ISA, Junior ISA, Investment Account and Cash Management Account
Any cash you hold is spread across several banks for your security. The latest figures for how this money is allocated between the banks we use is shown below; these proportions will vary throughout the day.
|Bank||Percentage allocated to that bank*|
|Barclays Bank Plc||72%|
|Royal Bank of Scotland Plc||14%|
|Lloyds Bank Plc||14%|
*Allocations are correct as of January 2019 and will be updated every quarter.
Current rates of interest
In this low interest rate environment, we are not paying any interest on cash held in these accounts. If this changes, we’ll update this page to let you know.
We currently don’t charge a service fee for holding your cash. However, we reserve the right to retain an amount of up to 0.25% of the interest received from the bank(s) we deposit your money with to cover the cost of administering these cash balances.
The Fidelity SIPP
Cash in the Fidelity SIPP is currently held either in a ‘SIPP Cash Account’ or as ‘Cash Within Your Account’.
If you have NOT yet received a letter from us saying your Fidelity SIPP has moved to our new system, you will have a SIPP Cash Account.
If you have received a letter from us saying your Fidelity SIPP has moved to our new system, you will have ‘Cash Within Your Account’.
All the cash held in these services is currently deposited with Barclays Bank Plc.
Current rates of interest
|SIPP Cash Account||0.35%|
|Cash Within Your Account||0%|
SIPP Cash Account
In addition to our standard service fee, we reserve the right to retain part of the interest we receive from the bank(s) we deposit your money with to cover the cost of administering these cash balances. We are not currently retaining any interest and we will notify you if this changes in the future.
Cash Within Your Account
We currently don’t charge a service fee on Cash Within Your Account. However, we reserve the right to retain an amount of up to 0.30% of the interest received from the bank(s) we deposit your money with to cover the cost of administering these cash balances.
We plan to introduce interest payments later this year, across all account types as interest rates rise.
How is my money protected?
Fidelity has multiple levels of protection for your money in the event that something goes wrong. Fidelity is authorised and regulated by the Financial Conduct Authority, which means we always hold a significant amount of liquid capital. And because we are an investment firm, not a bank, we are required to separate client money from our own.
Find out more about how your money is protected