Online Share Trading – Cash Management Accounts Guide
Many online share trading brokers offer services in addition to their normal trading and investment activities. One great service available is various kinds of bank accounts they can provide to help you manage your cash.ThisOnline Share Trading – Cash Management Accounts Guide will take you through the different types of accounts available from online share trading brokers.
Cash Account
A cash account is an everyday transactions account which is designed to conveniently meet day-to-day needs of customers trading shares online. Normally the interest rate is very low at around 1% and the account may include some of these features:
- A debit card so you can access your cash from anywhere in the world
- Fast and direct cash transfers
- Instant payment transfers between linked accounts
- Low brokerage fees when you make trade settlements from your cash account
- Use BPAY facilities to pay off bills
Investment Account
An investment account is simply a high-interest savings account. This account will often be linked to your cash account and can be used to invest money at a higher interest rate than your everyday-use cash account. Some features of this type of account may include:
- High interest rate
- Little or no fees
- Instant access to funds
- Instant transfer facilities
- Potential collateral for taking out a margin loan
Debit card account
The third type of account in thisonline share trading – cash management accounts guide is the debit card account. A debit card is a convenient way to pay for goods and services wherever you are in the world. Main features include:
- Free use of local ATMs
- Global acceptance of debit card for payments
- High level of security
- Transactions unlimited up to the balance of your account
Reading thisOnline Share Trading – Cash Management Accounts Guide should help you understand the different types of bank accounts offered by many online share trading brokers. These accounts are great to help you manage your cash when trading shares online and allow you to enjoy the benefits of conveniently managing your money online.
These additional services offered by online share trading brokers make your share trading much more efficient because you can easily transfer funds from one account to another and execute trades with ease. The benefits of these additional banking services often include reduced brokerage fees when making share trade settlements and can help reduce your share trading costs online. Taking advantage of your online broker’s banking services could not only save you time, but also money, making your online share trading and cash management easier than ever.
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Top High Interest Savings Accounts
All of these accounts are FREE to open and require no minimum deposit. They all have easy internet banking access with no transaction fees.
| Savings Account | Account Details | Maximum Variable Rate p.a. | Standard Variable Rate p.a. | Bonus Interest p.a. | Fees | Min Balance/Min Deposit | |
|---|---|---|---|---|---|---|---|
 UBank USaver | High ongoing rate of 5.41% p.a. Deposit $200 monthly to receive a bonus 0.60% p.a, taking this up to 6.01% p.a. Open online. | 6.01% | 5.41% | 0.60% | $0 | $0 / $0 |
 
|
 Virgin Saver Account | High introductory rate for 4 months to grow savings faster. | 5.85% | 4.65% | 1.20% | $0 | $0 / $0 |
|
 ANZ Online Saver | No min balance and earn up to 6.00% p.a. until 30 June 2012. Online exclusive offer. Apply online by 29 February 2012. | 6.00% | 4.25% | 1.75% | $0 | $0 / $0 |
|
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