Cash held in accounts

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Interesting article relating to cash held in accounts with investing platforms.

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Barely surprising, investing platforms are for investing. There’s surely investing instruments that are highly correlated with interest rates in any event.

FT offers 3% and I have an account with Skipton that’s offering 4.02% just now. If it’s worth the effort (ISA allowances aside), easy to shift money back and forth and lose about 3 days interest presumably.

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I think its good FT give you any interest at all.

It’s an investment platform, not a savings account.

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You can always put uninvested cash into a money market fund. Freetrade have some available on their platform now.

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If I remember rightly from the latest accounts, the amount FT makes from uninvested cash is negligible compared with subscriptions and forex fees which make up most of its revenue.