Helping make your 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 you hold large balances of cash for long periods of time, but if you do want your 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. Details of the options currently available are below.

We partner with Bondsmith, an FCA regulated third-party, to offer access to a diverse range of fixed term deposit and notice accounts with attractive interest rates from banks and building societies (referred to below as deposit takers).

You can apply for these accounts by completing the application form. James Hay will normally send your application to Bondsmith (as well as cash from your SIPP bank account) within four business days following the business day of receipt. Bondsmith will then make a payment into the new account(s) set up with each deposit taker.

You can also click on the rates of the deposit taker for further information about their accounts, including deposit protection status under the Financial Services Compensation Scheme.

Indicative rates of interest for any deposits you place with a cash panel provider are shown below, but the actual rate will be that offered by the deposit taker at the time they receive your application.

Please note: the cash panel is available for all SIPP products administered by James Hay Administration Company Limited. It’s not available through IPS SIPP products or the Modular ISA and Modular GIA.

*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 are displayed to you, so the rate you will see is the rate you will receive.