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Interactive Brokers has announced it has raised interest rates on instantly available cash balances over USD 10,000, with clients expected to earn up to USD 4.83%. Interest is paid directly to client brokerage accounts making cash instantly available to trade or transact, the automated global electronic broker explained. IBKR's&nbsp;Cash Management service offers competitive rates for clients to earn interest and borrow while managing their money from one account. 
<h2 id="an-all-in-one-approach-for-trading-borrowing-and-earning">An all-in-one approach for trading, borrowing, and earning</h2> Steve Sanders, EVP of Marketing and Product Development, at Interactive Brokers, said: “Interactive Brokers offers a simple Cash Management solution so clients can oversee their finances from a single account. With our all-in-one approach, clients can earn and borrow at superior rates, make routine transactions and also trade across products and markets, without maintaining multiple accounts and services.” Interest rates on deposits/cash balances have been an issue as of late due to the rate hikes by central banks that are not being properly followed by commercial banks. Some regulators, including the <a href="https://financefeeds.com/uk-fca-wants-banks-to-raise-savings-rates-to-comply-with-upcoming-consumer-duty/" rel="noopener noreferrer nofollow">UK FCA</a>, are now pressuring financial services firms to be more competitive in that regard. While interest rates available at most other brokerages are negligible, the market interest paid by Interactive Brokers is calculated using the Fed Funds rate as the reference rate for USD minus 0.5%. When interest rates rise, clients of Interactive Brokers earn more. IBKR users can also use the account to invest globally in stocks, options, futures, currencies, bonds and funds from a single unified platform. IBKR's Cash Management solution includes the following features for US clients: Earn Interest &amp; Borrow: Clients are expected to earn interest up to USD 4.83% on instantly available cash balances or are expected to be able to borrow at USD 5.83 - 6.83% from a single brokerage account Pay Bills: Use Bill Pay to pay any company or individual in the United States via electronic check Purchase Everywhere: Use the IBKR Debit Mastercard® to make purchases or ATM withdrawals at millions of locations worldwide without late fees or foreign transaction charges Touchless Payment: Link the Debit Card with Apple Pay and Samsung Pay for contact-free purchases or with PayPal and Venmo Convenient Deposits: Use the mobile app to deposit checks anywhere or sign up for automatic payroll deposit Strength &amp; Security: IBKR's financial position and conservative business management protect IBKR and clients

Interactive Brokers raises rates to 4.83% on cash balances over $10,000

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