Wrap charges and interest rates

Learn more about how charges are applied to your account

Important information

The information on this page is an overview of charges only. Full details of all charges are included in your Terms and Conditions.

Read the Terms and Conditions (PDF)

Ongoing platform and product administration charges

Platform charge

The platform charge is the fee taken for the services provided to you on the Wrap platform. It is an annual charge deducted monthly from your Wrap account and is calculated based on the total value of your investments held on the Wrap platform.

Product administration charges - International Portfolio Bond

In addition to the platform charge, there is a product administration charge for the International Portfolio Bond. This is shown separately from the platform charge on your statement and is only deducted from your International Portfolio Bond, if applicable.

Who provides these products?

The Wrap platform, as well as the Personal Portfolio and Individual Savings Accounts (ISAs) are provided by Standard Life Savings Limited, member of the Aberdeen Group plc.

The SIPP and Onshore Bond are provided by Phoenix Life Limited, trading as Standard Life.

The Offshore Bond is provided by Standard Life International dac.

Complete flexibility and no hidden charges

There aren't any extra switching charges if you move your money between funds.
There aren't any additional charges for using model portfolio functionality or tools.
There aren't any withdrawal or transfer-out charges.

Comparing Platform Charges

Jargon in financial services can be confusing which makes it hard for you to compare services or to understand what you will pay. This document identifies the main components of platform charges and explains what these different charges might look like.

Read Comparing Platform Charges – Wrap (PDF)

How are my charges calculated?

Your platform charge is calculated based on the total value of your platform eligible assets (PEAs) – that is, the total value of certain investments you hold on the Wrap platform. The platform charge is applied in tiers and higher value tiers are charged at a lower rate. This means the greater the value of your PEAs, the lower your annual % platform charge will be. When you get your annual statement, you will see one % amount – this is the weighted average of your platform charge across the tiers.

A product administration charge applies if you have an International Portfolio Bond. It is a flat fee which is deducted in addition to your annual platform charge.

We deduct 1/12th of the annual platform and product administration charge on the 5th of each month, based on the value of your Wrap PEAs on the last working day of the previous month. The table below outlines the tiers and the % charge on an annual basis.

The following table shows the standard level of the platform charges. The charges that apply to your Wrap account will be shown in your personal illustration and charges information document. Please see the charging schedule in your Wrap terms and conditions for more information:

Value of Platform Eligible Assets*	Platform charge for ISAs, Personal Portfolio, SIPP and Bonds	Product administration charge - International Portfolio Bond
On the first £0 - £249,999.99	0.30%	0.12%
On the next £250,000 to £499,999.99	0.20%	0.12%
On the balance above £500,000	0.10%	0.12%

*Platform Eligible Assets are:

All investments in your Wrap account (with the exception of listed securities or off-platform investments in your Wrap SIPP) held and/or managed on the platform.
Cash held in cash deposits provided by Bondsmith

The charges that apply to your wrap account will be shown in your personal illustration and charges information document (where relevant) and may supersede the charges stated above. If you would like more information about your charges or how they impact your Wrap account, please call the customer centre on 0345 279 1001. Call charges will vary.

Drawdown price lock

Aberdeen Wrap offers a ‘Drawdown price lock’ which allows you to ‘lock in’ your platform charge at its current rate. The price lock takes into account the value of all platform eligible assets (PEAs), but only applies to the platform charge for your Wrap SIPP and can only be used when your SIPP is in drawdown. The platform charge for your other products will continue to change as the value of your PEAs changes, as illustrated in the table above.

You should seek financial advice before locking in your SIPP platform charge, as it might not be suitable at this time and may not be right for everyone. There may be a charge for this advice.

For more information or to discuss your options, please call the customer centre on 0800 027 4675. Call charges will vary.

How are my charges paid?

Personal Portfolio (PP), Individual Savings Account (ISA) and Onshore Bond

Personal Portfolio, ISA, and Onshore Bond charges are deducted from Cash account. If there is insufficient cash available to cover Personal Portfolio or ISA charges, the platform follows a process called auto-disinvestment. There is more information on this process below. If there in not enough cash available to cover Onshore Bond platform charges, cash will be made available through cancellation of units within the Bond.

SIPP

The platform charge for the SIPP is deducted from the cash available in the cash account within the product. This is due to tax rules for the products. If there is not enough cash available within the product, the platform will carry out an auto-disinvestment exercise. Please see below for information about auto-disinvestment.

Offshore Bond

The platform charge and product administration charge for the Offshore Bond (or International Portfolio Bond (IPB)) are deducted from the cash available in the cash account within the product. This is due to tax rules for the product. If there is not enough cash available within the product, the platform will carry out an auto-disinvestment exercise. Please see below for information about auto-disinvestment.

FAQs

Charges help

For more information on how and when charges are paid from your account, see our charges help page.

What is auto-disinvestment?

Auto-disinvestment is what we call the automated process where the Wrap platform automatically uses existing product cash or sells investments in order to cover charges. This process is different depending on which product(s) you hold.

Personal Portfolio and ISA

When there isn’t enough money in Cash Account to cover the platform charge for either your Personal Portfolio or ISA (or both), the platform will follow this path in order to cover the charges:

Cash Account	Personal Portfolio	Stocks and shares ISA

1. The Wrap platform looks to take your charges from your Wrap Cash Account	2. If there isn't enough cash available in the Cash Account, the system automatically checks your Personal Portfolio Cash Account.	4. If there isn't enough cash available through your Personal Portfolio investments, the Wrap platform will check your ISA Cash Account.

	3. If there isn't enough cash within your Personal Portfolio Cash Account, the Wrap platform will automatically sell down Personal Portfolio investments.	5. If there isn't enough cash available in your ISA Cash Account, the Wrap will automatically sell down your ISA investments.

The Wrap platform looks to take the charge from the Personal Portfolio first so that it won’t impact your ISA contributions for the tax year. The value of your platform charge plus an £100 is sold as part of this process. Any remaining cash after the charges are paid will stay in the Cash Account for future charges – the idea here is to avoid selling investments every month. If you don't hold any cash or investments in your Personal Portfolio, the auto-disinvestment process will look to take the charge straight from your ISA.

SIPP and Offshore Bond

When there isn’t enough money in the Offshore Bond cash account to cover the platform charge and the product administration charge, and/or in the SIPP cash account to cover the platform charge, investments will be sold to top up the cash account in the relevant product.

In this case, 6 months’ worth of platform and administration charges are sold.

Onshore Bond

Like the ISA and Personal Portfolio, Onshore Bond charges are also deducted from Wrap Cash. The important difference with this product is that it does not hold its own cash account, so there can be no auto-disinvestment. In this case, it is our back office teams who will surrender bond segments in order to cover the platform charge and product administration charge.

Dealing charges

The Wrap platform does not apply fees for buying, selling, or switching insured or mutual funds available on the Wrap. If you hold listed securities (which includes equities, corporate bonds, and gilts) or any off-platform assets there will be a fee charged for the sale of these investment types. Depending on the specific investment you have chosen and what product your investments are held in, other charges may apply in line with regulations, such as Stamp Duty.

Listed securities fee structure

There is a charge of £10 per transaction when the total value of your transaction is less than £25,000.
There is a charge of £25 per transaction when the total value of the transaction is between £25,000 and £99,999.
When the total value of the transaction is £100,000 or more, a charge of 0.025% is applied per transaction.
If you are buying or selling listed securities within your SIPP, there is an additional £12 fee per transaction, capped at £394 annually

For example: You would like to sell all of the equities you hold in your Wrap personal portfolio. The fee calculation would look like:

Equity A – total sale value: £1,500 (transaction 1)
Equity B – total sale value: £27,000 (transaction 2)
Equity C – total sale value: £500 (transaction 3)
Total cash generated from sale of securities: £29,000.

As you are selling three types of equities, and the total value of the sale is between £25,000 and £99,999, your fee equates to £25 x 3. A fee of £75 will be applied. For more information please see the Wrap client Terms and Conditions (PDF).

Off-platform investments (OPIs)

Off-platform investments are those held within a Wrap product but not directly on the Wrap platform. These types of investments are not traded on the Wrap platform and are bought and sold directly with the provider. OPIs include physical property holdings, deposit accounts, structured investments, and external discretionary managed portfolios. OPIs can only be held within a SIPP or an Offshore Bond.

As OPIs are not considered platform eligible assets (PEAs), they are not included in the calculation of your annual platform charge or product administration charge. OPIs are charged separately, usually on an annual basis. If you’ve removed your financial adviser from your account and you currently hold OPIs, you may continue to do so. If you would like to add an OPI to your Wrap SIPP or Offshore Bond, you will need to assign a financial adviser to your Wrap account.

Wrap SIPP

Charge type	Charge value	Charge applies to
Initial administration charge	£382	Any plan holder investing in OPIs for the first time
Yearly administration charge	£524 pa	Any plan holder investing in OPIs
Non-platform Investment Transaction Charge	£62/transaction, limited to a total maximum amount of £394 per year	Withdrawals and deposits into OPIs
Yearly charge for pension fund withdrawal (drawdown)	£158 pa	Any plan investing in off-platform assets where pension fund withdrawals (drawdown) have been set up, even if no income has been taken in the preceding 12 months

Depending on the type of OPI you hold, there may be additional transaction charges. These charges would be discussed with you when you call to give the instruction. If you are not sure whether you hold an off-platform investment or would like more information, please call the customer centre on 0345 279 1001. Call charges will vary.

International Portfolio Bond (Offshore Bond) for Wrap

Charges	Charge value		Charges apply to
Charge for deposit accounts and charge for Discretionary Investment Manager	Total bond value	Charge per year	These stepped charges are applied to all assets held in off-platform deposit accounts and with Discretionary Investment Managers, based on the total bond value
	Less than £150,000	0.55%
	£150,000 to £249,999	0.50%
	£250,000 to £499,999	0.35%
	£500,000 to 749,999	0.30%
	£750,000 to £999,999	0.25%
	£1 million and over	0.20%

OPI charges for the International Portfolio Bond are deducted monthly, in arrears, from the cash account with the product. If you would like more information about OPIs within your bond, please call the customer centre in Dublin on 0345 300 4273. Call charges will vary.

Discounts

The Wrap platform offers a family discount which allows family members to link their accounts and benefit from a reduced charge. When accounts are linked, the platform charge is calculated based on the total value of platform eligible assets in all linked Wrap accounts, and then applied to each account individually.

Wrap accounts are not automatically linked, so you will need to request that any qualifying accounts are linked.

How do I qualify for family terms?

If the account holders are married or in a civil partnership, their accounts need to have a combined total value of £500,000 in order to qualify for family terms.
Wrap accounts of close family members can also be linked for family terms, as long as one of the accounts has a value of at least £500,000.
For the purposes of family terms, a close family member is one of the following: parents, grandparents, children, siblings, spouse or civil partner.
A maximum of 10 relevant Wrap accounts can be linked for family terms.
Please note family linking can only be requested by your financial adviser.

Wrap interest rates

Each Wrap customer automatically has access to a Wrap cash account. In addition, the Wrap platform also operates cash accounts at a product level.

The annual gross interest rate we pay to customers on product level cash accounts is calculated with reference to the Bank of England base rate. This means that you can always work out what the interest rate paid will be, using the table below (paid rates are rounded up to the nearest 0.01%).

Base rate (per tier)	% of interest paid to customers
0.00% - 1.10%	0%
1.10% - 2.00%	50%
2.00% - 5.00%	70%
5.00% +	100%

For example, under the base rate announced on 7th August 2025 of 4.00%, the rate we pay to customers on product level cash accounts is 1.85% per annum. This is calculated as 0% of the first 1.10%, plus 50% of the next 0.90%, plus 70% of the next 2.00%; i.e., 0.00% + 0.45% + 1.40% = 1.85%.

Please note that the paid rates for the International Portfolio Bond (IPB) will also adopt the rates shown in the table above, but only up to a Bank of England base rate of 2.65%. Any increase above this rate will result in a paid rate of the Bank of England base rate less 1.75%. This will ensure the paid rate for the IPB will always be the same or better than illustrated in the rates shown in the above table. At the current Bank of England rate, this means that the interest paid on the IPB will be 2.25%.

Interest rates are calculated daily. If the base rate is negative this table will not apply, and paid rates may become negative. When the Bank of England base rate changes, the rate paid to customers will be updated within five working days. The interest rate on the Wrap cash account is 0.00% per annum.

Cash management administration charge (CMAC)

The rate we earn from our banking partner(s) may be higher or lower than base rate and may vary daily. We retain any additional interest earned as a margin to cover costs in managing cash and undertaking certain platform services in respect of cash holdings. We call this margin the Cash Management Administration Charge (CMAC). The CMAC is taken directly from the interest received from the bank(s), so will not appear as a separate charge.

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Risk warning

The value of your investments can go down as well as up and you may get back less than you paid in. Tax rules can always change in the future. Your own circumstances and where you live in the UK could have an impact on tax treatment.