MAKING THE MOST OF CASH SAVINGS In a low interest rate market, it can be difficult for savers to get excited about the prospect of managing cash savings. However, cash is a vitally important asset for both short term liquidity and meeting future liabilities. Ensuring your cash is working hard for you, often involves the management of multiple cash deposits and the constant review of the bank interest rates. This can be a time-consuming and painful process. Business owners, Charities and individuals often don’t have the time to manage their cash to gain a small advantage. Historically, the administration of multiple cash accounts has been very time-heavy and as such, not a reasonable return on investment. To help address these challenges, Albert Goodman Chartered Financial Planners have partnered with a leading cash management service provider, Insignis Cash Solutions. Insignis offers a single sign-up service that gives you access to up to 29 banks and building societies offering exclusive, market-leading savings rates. Insignis is available to Businesses, Charities, Trusts and Individuals so caters for all possibilities.
How Does It Work? For clients wanting to benefit from this service, they simply register through an online portal and create an account. The desired amount of savings is then transferred into a main bank account through the platform (also known as a hub account) before being spread across a number of different banks. This process is completed online, and clients can switch funds between accounts with ease. Insignis manages the complex administration on your behalf, providing you with a hassle-free service that enables you to access the best interest on your accounts through one place.
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The graphic below highlights how the process works in more detail:
