Cash Management & Interest Rates*

Credit balances in clients’ portfolios will be held in a deposit account paying a rate of interest as shown below:

Credit Balance GBP Rate (%) USD Rate (%)
Under 10,000 0.00% 0.00%
10,000 - 24,999 0.00% 0.00%
25,000 - 49,999 0.00% 0.33%
Thereafter 0.00% 0.83%

Credit interest is calculated from the date on which we receive the funds up to the date of withdrawal or the settlement of purchases. Interest payable is distributed gross, twice yearly in April and October.

Debit balances are charged with reference to our custodian’s client overdraft rate. Our primary custodian client overdraft rates per currency are:

Currency Rate (%)
GBP 3.75%
USD 5.85%

Credo currently charges 7% above our custodian’s client overdraft rate.

Applicable rates on other major currencies are available on request.

(*) Rates updated as at 1st December 2019