- Vanguard has recently stopped charging customers for cash
- Best and worst platforms for holding cash
Various investment platforms still do not pay interest on cash balances held by customers, despite a new regulatory focus on getting them to pass on the higher interest rates that they earn.
In December 2023, the Financial Conduct Authority (FCA) told platforms and personal pension providers to ensure that the level of the interest rate they were retaining on cash balances represented “fair value” for the customers.