What is Wrap?
Wrap Terms and Conditions
This policy applies to all Wrap clients and provides you and (if applicable) your financial adviser with information about our Order Execution Policy and should be read together with the Wrap Services Client Terms and Conditions.
These Terms and Conditions are only applicable to clients that have opened a Wrap Personal Portfolio and/or Wrap ISA.
These Terms and Conditions are only applicable to clients that have opened a Self Invested Personal Pension for Wrap.
These policy provisions are only applicable to clients that have opened an Onshore Bond for Wrap.
These policy provisions are only applicable to clients that have opened an International Portfolio Bond for Wrap.
If you would like a paper copy of any of these terms and conditions please contact your adviser or call us at 0345 279 1001.
Comparing Platform Charges
Interest Rates
Each Wrap customer automatically has access to a Wrap cash account. In addition, the Wrap platform also operates cash accounts at 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 is 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
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.
Platform and product administration charges
| Value of your platform eligible assets |
Annual platform charge for Wrap products (deducted for each band) |
Annual additional product administration charge for international portfolio bond for Wrap (deducted for each band) |
Annual additional product administration charge for onshore bond for wrap (deducted for each band) |
|---|---|---|---|
| On the first £0 - £250,000 | 0.30% | 0.12% | 0.15% |
| On the next £250,000 - £500,000 | 0.20% | 0.12% | 0.15% |
| On the balance above £500,000 | 0.10% | 0.12% | 0.15% |
Important – Our interest rates and the cash management administration charges are regularly reviewed so you should visit this webpage regularly.