This feature, which is also available through online IPS once you have registered, allows you to manage the flow of cash in to and out of your portfolio. You can think of it like a cash holding account. To take full advantage of all it’s features, for security reasons, you must first call our UK based Customer Services Team to nominate and verify a current account in your name that you wish to make your ‘nominated bank account’. This is the bank account from which IPS will accept payments into your IPS Cash Account, and pay any monies to you from your IPS Cash Account. The IPS Cash Account’s features include:
- The ability to transfer money into your IPS Cash Account from your nominated bank account and, when you’re ready, use this money to top up existing funds or buy new funds.
- When you sell online any of the investments you have in one of your funds, the proceeds are automatically moved into your IPS Cash Account. You can either leave the proceeds in this account until you are ready to invest again, or transfer the money from your IPS Cash Account to your nominated bank account.
- If you receive income from any of your investments, it'll be paid in your IPS Cash Account initially. Once a month we’ll send this income to your nominated bank account in one single payment.
- The IPS Cash Account currently pays interest at 0.25% below the Bank of England base rate. This interest rate may be subject to change.