Cash Management & Interest Rates*
Credit balances in clients’ portfolios with Credo’s primary custodian will be held in a deposit account paying a rate of interest as shown below. These rates are net of all applicable charges and fees from the custodian.
| Credit Balance | GBP Rate (%) | USD Rate (%) |
| Under 10,000 | 1.80 | 1.60 |
| 10,000 - 24,999 | 2.80 | 2.60 |
| 25,000 - 49,999 | 3.30 | 3.10 |
| Thereafter | 3.80 | 3.60 |
Credit interest is calculated from the date on which we receive the funds up to the date of withdrawal or the settlement of purchases. Interest payable is distributed gross, twice yearly in April and October.
Debit balances are charged with reference to our custodian’s client overdraft rate. Our primary custodian client overdraft rates per currency are:
| Currency | Rate (%) |
| GBP | 10.25 |
| USD | 13.42 |
Credo currently charges 5% above our custodian’s client overdraft rate.
Applicable rates on other major currencies at Credo’s primary custodian and all applicable rates at our non-primary custodians are available on request.
(*) Rates updated as at 11th August 2023 and applicable to clients whose Schedule of Charges refers to Cash Management information being available on the Credo website.