Transact cuts charges on mid-level portfolios

The platform is to extend its 33bps charging band, which currently applies to accounts between £300,000 and £600,000, to all accounts between £60,000 and £600,000. It will replace a 43bps tier on portfolios between £60,000 and £180,000, and a 38bps charge between £180,000 and £300,000. On the next £600,000 the rate will be 20bps, with 8bps on the remaining balance. A 50bps charge on investments below the £60,000 threshold will remain in place. Cash rates will also be cut: 45bps on amounts below £60,000; 29bps between £60,000 and £600,000; 18bps on the next £600,000; and 7bps on ...