Multi-currency accounts
MyExpatSIPP provides a multi-currency platform, allowing you to buy and sell investments in a range of currencies. The platform reports in and lets you hold cash in Pound Sterling (GBP), US Dollars (USD), Euros (EUR) and Australian Dollars (AUD).
A cash account can be opened for each currency. These accounts provide liquidity, holding funds for investing, withdrawals and paying fees. Proceeds from investment sales, dividends and other income are paid into the relevant cash account. You can move funds between cash accounts using a foreign exchange (FX) transaction on the platform. Full FX costs are set out in our charges schedule.
We do not require you to hold a minimum cash balance. However, you must keep enough cash in the relevant account to pay any product charges and any withdrawals you request.
All cash is handled in accordance with the client money rules set by the Financial Conduct Authority.
Interest rates on cash
The cash accounts are designed to provide liquidity for investing, withdrawing and paying fees, rather than as a place to hold cash for an interest-bearing return. Interest is earned only on Pound Sterling (GBP) and US Dollar (USD) balances; no interest is earned on Euro (EUR) or Australian Dollar (AUD) balances.
As at 1 June 2026, the rate of interest received by our custodian on GBP balances is the Bank of England Base Rate minus 0.7% and on USD balances is the Federal Rate Upper Bound minus 0.75%. These rates moves with market interest rates and we will update this page each quarter to confirm the prevailing rate. The rate of interest clients receive on GBP and USD balances is 0.35%. MyExpatSIPP retains the remaining interest earned on cash held in these accounts.
Because the cash accounts are not intended for holding cash over the long term, you may wish to keep cash balances no higher than needed for fees and planned withdrawals.