Cash Park enables you to temporarily hold cash within an ISA or Junior ISA until you are ready to invest. This allows you to protect your tax efficient allowance.
Cash available
Any amount that shows as 'cash available' within your ISA can be withdrawn into your nominated bank account. Please note that cash cannot be withdrawn from a Junior ISA. For both an ISA and Junior ISA the amount shown as 'cash available' can be invested into M&G funds at a time that suits you.
Cash balance
Cash balance is the total amount of cash in your Cash Park. This includes a 'cash available' amount plus any money temporarily held in cash as part of the transaction process but already reserved for a specific transaction. For example, your cash balance could include an amount being switched between funds, or money you’ve paid in as part of buying funds. Although this is part of the cash balance, it is not available for any further transactions.
Interest
No interest is paid on any money held in the Cash Park.