Is it time for Pearler to start paying interest on our Cash Accounts?

Hi David, thanks for this question. I’m one of the cofounders of Pearler and wanted to jump in to add some info here.

Right now, the client trust account that your money is help in doesn’t earn interest. The reason is they type of account has a range of features built for speed (to get you invested / paid out quicker), but the banks offering more modern accounts don’t have the same access to money markets / interest to pass on. So just in case you were wondering, Pearler is not earning interest on your money. Some brokers do this… not us.

We are looking at how we could make some changes to the type of bank accounts we offer so that interest is able to be earned, but a change isn’t super imminent. Unfortunately, too, the rates that would be on offer from banks aren’t likely to compete with the range of retail high interest savers out there. It is something we are interested in though, because every cent counts.

Appreciate this isn’t an solution to your question, but hopefully provides some context to the current structure and that we are always working towards the best outcome for our investors. For now, we are keen to make sure people are investing as regularly, simply and cheaply as possible.

All the best
Nick