Investing in Cash
There are plenty of reasons why savers may wish to hold some of their savings in cash as an intentional part of their retirement planning strategy.
For savers looking for better returns than may be available from the default SIPP bank account, we offer access to a range of cash investment options including: fixed term, fixed rate, and notice accounts. Your clients can open accounts directly with Curtis Banks or through an investment firm from our panel of approved bank providers. You can also choose to use a ‘cash platform’ which offers easy access to compare various rates and manage multiple cash accounts without having to complete a new application each time.
We currently offer access to two independent cash platforms:
There are a number of ways you are able to invest in cash, some of these choices are deemed standard investments, some are classed as non-standard. Please see our Schedule of Allowable Investments for more information.
We pay interest on any cash held in the SIPP bank account. Find out more about how the interest on SIPP bank account balances is applied and how this will be of particular benefit to clients as interest rates increase.
Please note that some investment form may not require a paper application form to be sent to us due to our streamlined processes. Please call us, or email us to find out whether a paper application form is required.
To submit a new account application to an investment firm, the process is as follows:
- Obtain an application form from the investment firm
- Submit the completed form to us via secure message or post
- We will complete the form, and return this to the investment firm
- The investment firm will set up the account
- We will then arrange for the funds to be sent to the investment firm and notify you once this has happened
- You contact the investment firm to place deal unless you have instructed the investment firm to manage investments on your client’s behalf
It typically takes up to 10 days for the new account to be set up by the investment firm. However, this is dependent on the third party firm’s processing timeframes.
If you are looking to add gold to an existing investment account, please find the process here.
Insignis Cash Solutions is a cash savings platform. These can help clients achieve better returns on cash by offering easy access to a range of banks and cash accounts.
They may also give clients higher overall FSCS protection by spreading cash across multiple banking institutions.
Learn more about Insignis Cash Solutions here.
Flagstone is a cash savings platform. These can help clients achieve better returns on cash by offering easy access to a range of banks and cash accounts. They may also give clients higher overall FSCS protection by spreading cash across multiple banking institutions.
Flagstone offers clients the ability to place cash deposits from the best savings accounts from up to 50 selected banks, all online.
Learn more about Flagstone here.
Term deposit accounts are allowable where they:
- have a fixed term or notice period of 5 years or less
- are a sterling deposit held with a UK authorised credit institution which meets our due diligence requirements
- are able to accept pension monies by trustee application
- are able to be operated by post by Curtis Banks’ signatories.
Where the term or notice period is more than 12 months, additional criteria will apply.
Fixed term deposit accounts and notice accounts must either be held by us directly, or through a cash platform that is listed as an Investment Partner, that meets our due diligence requirements for holding these types of accounts. Accounts cannot be held through an investment firm or other Investment Partners.