Interest payable

In accordance with our terms and conditions, we currently pay interest on GBP & USD cash balances only. The rates applied are the rates that we receive, less the margins stated below. The rates that we receive depend on money market conditions and vary daily, which means that the rate that clients receive can also vary daily. If our margin is more than the rate that we receive, you will not receive any interest. This will not result in negative rates.

Where interest is payable it will be paid quarterly on GBP and USD balances over £1,000. Interest sums amounting to less than £5 in any quarter will not be credited or paid to you or carried forward. You will receive the rate of interest we receive when we place money on deposit less a margin which we retain.

The rates and conditions are current and subject to change.

Current margins are as follows:

Band	JM Finn Margin (%p.a.)
£1,000–£4,999	3.000
£5,000–£9,999	2.500
£10,000–£14,999	1.750
£15,000–£49,999	1.500
£50,000–£99,999	1.125
£100,000–£149,999	0.875
£150,000–£249,999	0.625
£250,000 +	0.375

For general deposit and income accounts interest owed will be credited on the first business day of February, May, August and November for the preceding 3 months.

For ISAs interest owed will be credited on the first business day of January, April, July and October for the preceding 3 months.

NEGATIVE INTEREST

Occasionally we are charged negative interest for holding some foreign currencies. Where this occurs we may pass on this charge to you. We will tell you if this happens.

The way in which we pay or charge interest on client accounts may alter from time to time. We will give you not less than 30 days’ written notice of any alteration.