It is a common problem, ensuring your deposit account interest
rate is keeping pace with the market. As individual clients, most
of us will research the options, select an account and then trust
the banks to continue to keep their end of the bargain or at least
to tell their clients when they have changed their interest
offering. But all too often, this is not the case. Banks regularly
operate a business model based on the fact that their headline
interest rates are temporarily and will be cut, as accounts are
closed or downgraded. Keeping track of this ever changing
environment is virtually impossible for all but the most diligent
private clients, but on the other hand, optimising returns on cash
deposits within trusts and companies is one of the main
responsibilities of a fiduciary company, so it is reassuring to
know trust companies have recognised this problem and developed
solutions accordingly.
