Cofunds increases interest rate on cash account

Cofunds is increasing the interest rate on its recently-launched cash account. The account was lau...

Cofunds is increasing the interest rate on its recently-launched cash account. The account was launched in January but Charlie Eppinger, chief executive of the platform, said client feedback told them that the rate offered was not competitive. Therefore, the rate offered has increased by 0.5% to 50bp below the current base rate. Eppinger also said the group was looking at ways to pay trail commission on cash but it currently has system limitations. Cofunds’ Kevin Sweet added: “The cash account enables the client to put all of their income in one place and get a consolidated payment. ...