CommSec launches integrated cash management solution
5 June 2008
CommSec has today announced the launch of an integrated cash management and online trading solution – the first of its kind in Australia. It will be available to clients from Sunday 8 June.
The new CommSec Cash Management Solution will enable self-directed investors to turn their everyday cash into an investment opportunity by managing their investments and their cash through one single online location.
Matt Comyn, Managing Director, CommSec said: "The Cash Management Solution forms part of CommSec’s strategy to expand its market leading online broking platform already servicing more than 1.5 million accounts."
According to Mr Comyn, CommSec’s new Cash Management Solution has been developed to help self-directed investors make money, save money and save time.
Some of the key features of CommSec’s Cash Management Solution include:
- CommSec Cash Account
- Everyday electronic transaction account with no monthly account fees
- Full online transactional capabilities and interest paid on balances over $5,000*
- Worldwide and online access to funds via the CommSec Debit MasterCard
- CommSec Investment Account
- High interest online savings account paying 7.5%** on every dollar
- AutoSweep facility from Cash Account to help maximise interest
- Integrated trading and cash management capabilities
- Single log-in, view and single statement online
- Discounted brokerage rates
- Cash can be used as collateral for margin loans
- A single online application form
Mr Comyn also believes that this initiative will help grow the self-directed investor market: "Aspiring investors are already managing their money online and using high interest savings accounts.
"As their wealth builds they will be looking for other investment opportunities. An integrated solution to manage their everyday cash and investments will support that transition.
"As Australia’s largest online broker, we are dedicated to providing clients with innovative online investment solutions and CommSec Cash Management is part of that commitment," Mr Comyn concluded.
For further information, clients should visit www.commsec.com.au or call CommSec on 131519.
For further information, please contact:
Phone: (02) 9378 2663
Mob: 0414 789 649
**7.5% pa paid on full balance includes 0.5% bonus rate until 30/06/09