Bank Accounts

All products held with the James Hay Partnership are linked to a product bank account. All product bank accounts are held with either Barclays Bank PLC or Santander UK PLC.

The product cash accounts are in place to hold uninvested cash and are not designed to be a substitute for investment.

Barclays*

The Barclays account currently earns an interest rate of:

• 0.4% below Bank of England Base Rate for balances of over £50,000 currently paying 0.1%
• 0.6% below Bank of England Base Rate for balances of under £50,000 currently paying 0.1%.

Both subject to a minimum interest rate payable of 0.1%.

Santander**

The Santander account currently earns an interest rate of 0.00001% gross p.a (variable interest rate of 15/16th of 1% below Bank of England base rate; minimum rate 0.00001%).

* Applicable to Partnership SIPP, Family SIPP, SSAS, IPS Partnership SIPP and IPS 2008 SIPP
** Applicable to iSIPP, Wrap, Private Client SIPP, eSIPP and Select SIPP.