Glossary

Don't let jargon confuse you.  Our glossary has been designed to help you to understand terminology used across our website and online investment platform.

The Available Balance shows the cash value in your holding account. There are two important things to remember here:

  • Cash transactions will not show on here until funds have been cleared in the bank. Withdrawals will be deducted at 3.30pm Monday to Friday and funds added could take up to four working days to appear in your holding account for bank transfers and up to seven working days for cheques.
  • Subscriptions to bonds will only be deducted from this total when a bond is closed. Please click here for further information on this process.

You can view your available balance under the Holdings page of your account.

Similar to your Available Balance, Cleared Balance reflects your cash holding account. It may, for a short period, reflect a different figure to your Available Balance. This is because as it's calculated at different stages of transactions (such as withdrawal, adding funds or subscriptions) than the Available Balance.

If you are looking to understand what available funds you have in your account free to withdraw or invest, please refer to your Available Balance.

An account where funds are held. It’s the middle ground between a customer’s personal bank account and an investment product. When a customer adds funds to their account, it will show in their holding account, until it is moved into an investment product. All interest and full capital on maturity will be paid into this account, at which point it can be reinvested or withdrawn back to a customer’s bank account. Funds do not earn interest while in a holding account.
There are three types of holding accounts that a Wellesley customer could have access to:

  • Holding account – Every Wellesley customer will have access to a holding account linked to their general investment account which is held under the Wellesley New account.
  • Wellesley Classic holding account – This holding account only applies to customers with legacy peer-to-peer or mini-bond holdings. Customers cannot transfer funds in or out of this account. It is used to pull information from Wellesley Classic. Funds will only every pass by this account before automatically being transferred into the above holding account. For example, interest from an existing peer-to-peer product will appear in this account for a short period of time before it will be moved into the above holding account where clients can reinvest or withdraw as they wish.
  • Wellesley ISA holding account – Customers who have opened an ISA account will have access to this account which work in the same way as the holding account. If customers are wishing to take advantage of investing via an ISA, they must transfer funds into this account. There is a different reference number for this account versus the non-ISA holding account. This must be included as instructed when adding cash to your account so that we know which account to credit.

ISIN (or International Securities Identification Number) is a code that uniquely identifies a specific securities issue such as bonds or stocks. Each issue of a Wellesley listed bond will have a unique ISIN.

A portfolio refers to the type of account you hold with Wellesley. Every client will have a ‘Wellesley Customer Portfolio’ which is the name of the general investment account. Anyone who has opened as ISA account will also have a ‘Wellesley Customer ISA Portfolio’

Similar to your Available Balance, Posted Balance reflects your cash holding account. It may, for a short period, reflect a different figure to your Available Balance. This is because as it's calculated at different stages of transactions (such as withdrawal, adding funds or subscriptions) than the Available Balance.

If you are looking to understand what available funds you have in your account free to withdraw or invest, please refer to your Available Balance.

The term 'security' refers to an investment product. Therefore, each issue of a Wellesley listed bond will have a unique security name and corresponding ISIN.

This is the total of all transactions that have not yet cleared in the bank and are therefore in transit. The funds that are displayed here haven't yet been updated in the other balances on your account. Some important things to bear in mind about this figure:

  • It will reflect pending withdrawal requests but only after 3.30pm Monday to Friday. This will appear as a negative balance
  • It will not reflect funds that are subscribed to a bond until the closing date of the bond. For further information on this process, please click here.

You can view your available balance under the Holdings page of your account.

Please note that this is not the same as a ‘suspended balance' on Wellesley Classic.

You will see this under the Pending Orders tab on the Recent Activity page of the online investment platform. This is where any pending bond subscriptions will appear appear. Trade Type will display as ‘Buy’ while the order is pending (before the bond closes). Once a bond closes an additional entry will appear here with a trade type of  ‘Purchase'. This will display here until the bond is listed on the stock exchange which typically takes a few days.

Wellesley Classic is the name of Wellesley's original online investment platform that is only available to customers who have legacy peer-to-peer or mini-bond products. In July 2019, Wellesley launched a second investment platform designed to allow customer to invest into listed bonds.

Your capital is at risk and interest payments are not guaranteed. Investment in any Wellesley products are not covered by the Financial Services Compensation Scheme (FSCS).

Wellesley is the singular name for the following collective of companies, Wellesley Group Limited (09811856), Wellesley & Co Limited (07981279) and Wellesley Finance Limited (08331511). Wellesley Secured Finance Plc was established as a special purpose vehicle for the sole purpose of issuing asset backed securities and is not part of Wellesley Group.

Wellesley & Co Limited (FRN 631197) is authorised and regulated by the Financial Conduct Authority (FCA).  Wellesley Secured Finance Plc and Wellesley Finance Limited are not authorised or regulated by the FCA.

Wellesley & Co Limited and Wellesley Finance Limited are registered in England and Wales and their registered office and trading address is at St Albans House, 57/59 Haymarket, London SW1Y 4QX. The registered address for Wellesley Secured Finance Plc is at 1 Bartholomew Lane, London, EC2N 2AX

 

Require further information?
Please review our FAQs or contact the customer support service provided by Resolution Compliance Limited on [email protected]