A cash management account offers a highly convenient option to manage the flow of funds arising from your shares investment.
Your account is regularly updated as sales proceeds and purchase payments are automatically credited and debited from your account without the delays caused by cheque settlement.
There are more benefits of using a cash management account for your investment activities:
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Earn immediate interest from the first dollar of your cash balances
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Earn higher interest compared to bank deposits
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No minimum balance required or bank charges
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Draw down facility
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Prompt settlement for shares purchases, meeting the ASX requirement for settlement three business days after the day of transaction
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Avoidance of any penalties caused by late settlement
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Provision of a full investment record of dividends and interest income for year end reporting
