It has always been said of business that turnover is for vanity, profit is for sanity, but cash is King! Well, cash may be King, but it doesn’t always get Royally treated. Cash Management Solutions could offer a solution.
Low interest rates offered by the banks and building societies leave us uninspired and chasing after better returns, although in reality, there is currently very little difference between the rates available from different savings accounts and institutions. There is also the problem of the Financial Services Compensation Scheme (FSCS) limit, currently capped at £85,000 per company, and the hassle of opening and closing accounts.
Recently we have helped two clients with this problem; Directors of a Limited Company that sold a Property and Trustees of a Charity that had an influx of donations. Both needed to retain the cash, but how could they improve returns easily, whilst retaining both liquidity and security?
The Cash Management Solution
Cash Management Solutions provide a useful option. They spread funds across the savings and deposit products of as many as 30 banks, with a single and simple sign-up process, maximising FSCS protection and optimising interest rates.
Most of the accounts offered are available to the public. You can open accounts directly yourself, but Cash Management Solutions negotiate exclusive rates with many institutions which will not be available elsewhere.
Having these accounts managed on your behalf, can save you considerable time. They also ensure you are getting the best rates, both when you set up the deposit portfolio and on an ongoing basis, along with dealing with the maturities as they arise.
How we can help
We can help in identifying whether or not this is a suitable option for you. If it is, we can undertake the due diligence in choosing the most suitable provider….making sure that cash is treated just that little more royally. To get in touch please click here to go to the contacts section of our website.