Within each of your accounts with us we offer a cash facility. We do this by providing access to a bank account operated by a banking partner.

This bank account is not unique to your account with us. It holds amounts of money for our HUB Financial Solutions Investment Service customers centrally. There are two separate accounts, one for the HUB Financial Solutions Personal Pension, and the other for the HUB Financial Solutions ISA and the HUB Financial Solutions GIA.

Interest paid

The interest paid on any money held in accounts in the HUB Financial Solutions Investment Service is determined by the current banking partner/s. We may retain a proportion of the interest we receive to cover our costs of administration.

From 12 May 2020 due to the decrease in the Bank of England rates our current banking partner (Metrobank) will reduce the amount of interest payable on these accounts to 0%.

For operational reasons this rate will be applied to any money held in accounts in the HUB Financial Solutions Investment Service from 24 April 2020.

Up to 23 April 2020, any money held in accounts in the HUB Financial Solutions Investment Service will receive interest payable at 0.55% pa.

From 24 April 2020, any money held in accounts in the HUB Financial Solutions Investment Service will not receive any interest.

Interest is accrued daily by the Service based on the rate that we define and calculated against the clients cash holdings that day. On the first of each month, the total of these accruals for all days in the prior month is applied to the clients account, increasing their cash balance. The corresponding cash balance is paid into the client bank account on the same day.

If a client transfers out of their scheme mid-month, the total of interest accrued up to that day is applied to the clients account, increasing their cash balance. The corresponding cash balance is paid into the client bank account on the same day.

If you have any questions regarding our banking partners or interest paid on HUB Financial Solutions accounts, please do not hesitate to contact us on 01737 233468 or email us at: platformservices@hubfs.co.uk